Oberoi Realty Sees 82% Surge in Q1 Profit, Driven by Luxury Real Estate Demand
Mumbai-based Oberoi Realty, a leading real estate developer, reports an 82% increase in consolidated net profit to Rs 584.51 crore in Q1 FY25, driven by strong demand in the luxury real estate market.
Oberoi RealtyReal EstateLuxury Real EstateMumbaiQ1 ResultsReal Estate MumbaiJul 20, 2024
The company's total income also witnessed a substantial rise to Rs 1,441.95 crore in the April-June period of 2024-25, up from Rs 933.56 crore in the corresponding period of the previous year. According to a regulatory filing on Friday, Oberoi Realty's net profit stood at Rs 321.64 crore in the year-ago period.
The real estate market in India has been experiencing robust demand across various segments, solidifying its position as the preferred investment avenue. Vikas Oberoi, Chairman and Managing Director, Oberoi Realty, emphasized that India's solid economic foundations and proactive policymaking have enabled it to effectively manage global challenges and emerge as the fastest-growing major economy.
Oberoi Realty is geared up to launch new projects and towers, scale up its annuity assets, and make strategic land acquisitions. The company is committed to achieving sustainable growth while focusing on creating lasting value for all its stakeholders.
In the last fiscal year, Oberoi Realty posted a net profit of Rs 1,926.60 crore over a total income of Rs 4,818.77 crore. With its strong performance in Q1 FY25, the company is expected to continue its growth momentum in the coming quarters.
Frequently Asked Questions
What is the net profit of Oberoi Realty in Q1 FY25?
Rs 584.51 crore
What is the total income of Oberoi Realty in Q1 FY25?
Rs 1,441.95 crore
What is the growth rate of Oberoi Realty's net profit in Q1 FY25?
82%
What is driving the growth of Oberoi Realty's profit?
Strong demand in the luxury real estate market
What is the company's strategy for future growth?
Launching new projects and towers, scaling up annuity assets, and making strategic land acquisitions
Related News Articles
Unlocking Opportunities in the Real Estate Insurance Market: Trends, Insights, and Projections
Discover the latest trends, challenges, and opportunities in the real estate insurance market, featuring key players, regional analysis, and market segmentation.
Pune Real Estate Market Sees 50% Jump in Registered Transactions, Average Home Price Reaches Record High
The number of real estate transactions in Pune has increased significantly, with registered transactions surging by 50% in the April-June 2024 quarter.
Haryana and Jammu & Kashmir Assembly Election Dates Announced by EC; Results to be Declared on October 4
The Election Commission of India has announced the dates for the Haryana and Jammu & Kashmir assembly elections. The polls will be held in a single phase on October 21, and the results will be declared on October 4.
Century Textiles Acquires 10-Acre Land in Mumbai for ₹1100 Crore, Expects ₹14,000 Crore in Revenue
Century Textiles plans to develop the land through its real estate subsidiary Birla Estates, expecting ₹14,000 crore in revenue from the project.
Virgo Daily Horoscope for September 14, 2024: A Temporary Setback in Assets and Real Estate Deals
Be cautious with real estate deals today, as a temporary decline in assets may occur. However, this setback will be short-lived.
DLF Q2 Earnings Skyrocket: Net Profit Surges to ₹1381 Crore
DLF, India's leading real estate firm in terms of market capitalization, has reported a remarkable surge in its Q2 net profit, jumping over twofold to ₹1381 crore. The company, primarily engaged in the development and sale of residential and commercial pr