Oberoi Realty plans to raise ₹6,000 Crore via equity issue

11 Oct 2024 , 11:52 AM

Oberoi Realty announced on Thursday (October 10) that its board of directors has authorised a proposal to raise up to ₹6,000 Crore using various financial instruments.

In a meeting on Thursday, the board approved this fundraising initiative, which will include the issuing of equity shares, qualifying securities, or other instruments in one or more tranches. Capital can be raised through private placements, including qualified institutional placements (QIPs).

Oberoi Realty reported an 81.8% YoY increase in net profit to ₹584.5 Crore for the first quarter ended June 30, 2024. Oberoi Realty reported a quarterly net profit of ₹321.6 Crore in a regulatory filing.

Revenue from operations climbed by 54.4% to ₹1,405.2 Crore, up from ₹910 Crore in the previous fiscal year. In the first quarter of this fiscal year, EBITDA increased by 72% to ₹815.1 Crore, up from ₹473.7 Crore in the same period last year.

The EBITDA margin was 58% in the reporting quarter, up from 52% in the same period last fiscal year.

At around 11.35 AM, Oberoi Realty was trading 0.67% higher at ₹1,891.80 per piece, against the previous close of ₹1,879.25 on NSE. The counter touched an intraday high and low of ₹1,912, and ₹1,848, respectively.

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