On Monday, July 22, the stock of the real estate developer Oberoi Realty surged as much as 6.50% to an intraday high of Rs.1, 780 per share.
The Mumbai-based company's profit in the June quarter of the financial year 2025 (Q1FY25) increased by nearly 82% year-over-year (Y-o-Y) to Rs.584.5 crore, up from Rs.321.6 crore in the same quarter a year earlier (Q1FY24).
Revenue from operations increased by 54.4 percent year-over-year to Rs.1, 405.2 crore, up from Rs.910 crore in the previous fiscal quarter. Oberoi Realty's income before interest, charges, deterioration and amortization (Ebitda), also called as operating profit, zoomed 72% to Rs.815 crore in Q1FY25, rather than Rs.473.7 in Q1FY24.
Subsequently, Ebitda edge came in at 58% for the June quarter of FY25, rather than 52% in the June quarter of FY24.
Oberoi Realty, a real estate development organization, is located in Mumbai. It is a subsidiary of Oberoi Realty Group, which focuses on residential, office, retail, hospitality, and social infrastructure developments. According to Bombay Stock Exchange (BSE), the company has a market capitalization of Rs.63, 812.19 crore. The organization falls under BSE 200 classification.
Expressing to this profit surge, Vikas Oberoi, Chairman & Managing Director of Oberoi Realty says, “We are pleased to announce another successful quarter, driven by healthy demand in the luxury real estate market with homeowners constantly looking to elevate their lifestyles. Oberoi Realty will continue to stand true to providing customers with aesthetically designed luxurious homes and a sustainable lifestyle complete with world class amenities. We are gearing up for new project and tower launches, scaling up our annuity assets and strategic land acquisitions. We are committed to achieving sustainable growth, with a focus on creating lasting value for all our stakeholders.”
“Further, August 1, 2024 is the record date for the purpose of payment of the said interim dividend, and the said interim dividend shall be paid starting from August 12, 2024”, he added.
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