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
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