In Short:
Oberoi Realty Ltd. reported a 82% increase in consolidated net profit to Rs 584.51 crore for the first quarter, driven by higher income. The total income rose to Rs 1,441.95 crore. Chairman Vikas Oberoi highlighted India’s economic growth and strong real estate demand. The company is focusing on new projects and sustainable growth to create lasting value for stakeholders. Oberoi Realty is a leading developer in residential, office, retail, and hospitality projects in India.
Oberoi Realty Shines with 82% Increase in Net Profit
Exciting news from Oberoi Realty Ltd! The company has reported a phenomenal 82% increase in its consolidated net profit to Rs 584.51 crore for the first quarter of the current fiscal. This is a significant rise from the net profit of ₹321.64 crore in the same period last year.
Impressive Growth in Total Income
Not just that, but the total income of Oberoi Realty has also seen a remarkable growth, reaching ₹1,441.95 crore in the April-June period of 2024-25 from ₹933.56 crore in the corresponding period of the previous year. This surge in income showcases the company’s strong performance and market position.
Positive Outlook by Vikas Oberoi
Vikas Oberoi, Chairman and Managing Director of Oberoi Realty, expressed optimism about the Indian economy and real estate market. He stated, “India continues to be the fastest growing major economy, effectively managing global challenges by leveraging its solid economic foundations and proactive policymaking for growth”.
Oberoi highlighted the strong demand in the real estate market and how it has become a preferred investment avenue for many. He also mentioned the success of the company’s latest quarter, driven by healthy demand in the luxury real estate market.
Future Plans and Commitment to Growth
Oberoi Realty is not resting on its laurels, as they are gearing up for new project and tower launches, scaling up their annuity assets, and strategic land acquisitions. Vikas Oberoi reiterated the company’s commitment to achieving sustainable growth and creating value for all stakeholders.
About Oberoi Realty
Oberoi Realty, based in Mumbai, is a leading real estate developer in the country, specializing in the development of residential, office, retail, and hospitality projects. In the previous fiscal year 2023-24, the company posted a net profit of ₹1,926.60 crore over a total income of ₹4,818.77 crore.
Exciting times ahead for Oberoi Realty as they continue to thrive in the real estate market!
