Indian Real Estate Market Boom: Oberoi Realty Sees 82% Jump in Net Profit
Oberoi Realty's Q1 net profit surges 82% to Rs 584.51 crore, driven by strong demand in the luxury real estate market.
Indian Real EstateOberoi RealtyLuxury Real EstateNet ProfitQ1 ResultsReal EstateJul 20, 2024
Vikas Oberoi, Chairman and Managing Director of Oberoi Realty, said, 'India continues to be the fastest growing major economy, effectively managing global challenges by leveraging its solid economic foundations and proactive policymaking for growth.' He further added that the Indian real estate market has witnessed strong demand across various segments, solidifying its position as the preferred investment avenue.
Oberoi Realty is gearing up for new project and tower launches, scaling up its annuity assets and strategic land acquisitions. Vikas Oberoi expressed his commitment to achieving sustainable growth with a focus on creating lasting value for all stakeholders. '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,' he said.
Mumbai-based Oberoi Realty is into the development of residential, office, retail, and hospitality projects. The company has a strong presence in the Indian real estate market, with a proven track record of delivering high-quality projects.
In the last 2023-24 fiscal, Oberoi Realty posted a net profit of Rs 1,926.60 crore over a total income of Rs 4,818.77 crore. The company's commitment to quality and sustainability has earned it a reputation as a trusted real estate brand in India.
Oberoi Realty is a leading real estate developer in India, with a focus on delivering high-quality residential, office, retail, and hospitality projects. The company's portfolio includes some of the most iconic developments in Mumbai and other parts of the country.
Frequently Asked Questions
What is Oberoi Realty's net profit for Q1 of the current fiscal?
Oberoi Realty's net profit for Q1 of the current fiscal is Rs 584.51 crore, an 82% increase from the previous year.
What is driving the growth of Oberoi Realty's net profit?
The growth of Oberoi Realty's net profit is driven by strong demand in the luxury real estate market, leading to higher income.
What is Oberoi Realty's focus for the future?
Oberoi Realty is focused on achieving sustainable growth with a focus on creating lasting value for all stakeholders, and is gearing up for new project and tower launches, scaling up its annuity assets and strategic land acquisitions.
What is Oberoi Realty's presence in the Indian real estate market?
Oberoi Realty is one of the leading real estate developers in India, with a strong presence in the market and a proven track record of delivering high-quality projects.
What is the total income of Oberoi Realty for Q1 of the current fiscal?
The total income of Oberoi Realty for Q1 of the current fiscal is Rs 1,441.95 crore, an increase from Rs 933.56 crore in the previous year.
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