Oberoi Realty Sees 82% Jump in Net Profit to Rs 584.51 Cr in Q1
Mumbai-based Oberoi Realty's net profit surged 82% to Rs 584.51 crore in Q1, driven by strong demand in the luxury real estate market.
Real EstateOberoi RealtyMumbaiLuxury Real EstateIndia EconomyReal Estate MumbaiJul 20, 2024
Vikas Oberoi, Chairman and Managing Director, Oberoi Realty, expressed optimism about India's economic growth, saying that the country continues to be the fastest-growing major economy. He added that the Indian real estate market has witnessed strong demand across various segments, solidifying its position as a preferred investment avenue.
The company's healthy demand in the luxury real estate market has driven its growth, with homeowners looking to elevate their lifestyles. Oberoi Realty is gearing up for new project and tower launches, scaling up its annuity assets, and strategic land acquisitions. The company aims to achieve sustainable growth while creating lasting value for all its stakeholders.
As one of the leading real estate developers in the country, Oberoi Realty is known for its expertise in developing residential, office, retail, and hospitality projects. In the last financial year, the company posted a net profit of Rs 1,926.60 crore over a total income of Rs 4,818.77 crore.
Frequently Asked Questions
What is the net profit of Oberoi Realty in Q1 of the current fiscal?
Rs 584.51 crore, an 82% increase from the previous year.
What is the total income of Oberoi Realty in Q1 of the current fiscal?
Rs 1,441.95 crore, up from Rs 933.56 crore in the corresponding period of the previous year.
What is driving the growth of Oberoi Realty?
Healthy demand in the luxury real estate market, with homeowners looking to elevate their lifestyles.
What are Oberoi Realty's plans for the future?
New project and tower launches, scaling up annuity assets, and strategic land acquisitions.
What is the focus of Oberoi Realty's growth strategy?
Achieving sustainable growth while creating lasting value for all stakeholders.
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