Oberoi Realty stock surges after Q3FY22 earnings, PAT rises to Rs468cr aided by strong sales

31 Jan 2022 , 09:19 AM

Oberoi Realty recorded Consolidated Revenues of Rs846.19cr for the quarter ending December 2021 (Q3FY22) as against Rs768.52cr for Q2FY22. The company’s revenue was at Rs1,909.48cr for 9MFY22 as against Rs1,289.71cr for 9MFY21.

The Consolidated Profit After Tax was Rs467.73cr for Q3FY22 as against Rs266.55cr for Q2FY22 and Rs815.08cr for 9MFY22 as against Rs454.07cr for 9MFY21.

Vikas Oberoi, Chairman & Managing Director, Oberoi Realty Limited said, “The real estate sector has witnessed a very strong sales momentum in the last few quarters. This is primarily due to supply-side consolidation and a shift in consumer preference towards established players. Historically low-interest rates are also supporting a spur in the volumes. In the commercial segment, we see that the leasing activity is gradually picking up and with the pandemic easing out, the retail business is also set to make a comeback.”

Oberoi added, “At Oberoi Realty, all our projects received an overwhelming response and continue to perform exceedingly well. We remain committed to creating developments that cater to all the needs of the homebuyer across segments and offer them an enhanced, sustainable and healthy lifestyle.”

At around 09.16 am, Oberoi Realty was trading at Rs904.90 per piece up 1.2% on Sensex.