Oberoi Realty Q3 PAT up 72%, on higher delivery of houses
Real estate developer Oberoi Realty reported a 72 per cent increase in consolidated net profit in the third quarter of FY25, with revenue rising 34 per cent as the company completed and delivered more houses in the quarter. The company reported a net profit of ₹618.4 crore on revenue of ₹1,411 crore.
The major portion of its revenues came from its residential and office segment at ₹1,357.4 crore, with the hospitality segment accounting for ₹54 crore, the segmental break-up showed.
Its operating margin surged to 60.67 per cent from 48.34 per cent year ago, while the net profit margin was 42.35 per cent (33.36 per cent).
Other income up
Its net profit was aided by a rise in other income to ₹49 crore (₹29 crore).
Oberoi Realty has a dominant position in Mumbai’s luxury market, one of its landmark projects being Three Sixty West in Worli, where apartments are sold at rates over ₹1 lakh per sq ft.
Total expenses during Q3 was 7.8 per cent higher at ₹652.7 crore, with finance costs going up quite a bit, though expenditure on land and development rights saw a fall to ₹600 crore (₹1,730 crore).
In the quarter, it raised ₹1,500 crore through debentures, which was used to acquire land, related assets and payments for joint development agreements.