Oberoi Realty shares surge 5% on solid Q1 earnings show

Oberoi Realty shares have witnessed strong profit booking in the past month, plunging over 10 percent after it recorded stellar gains of over 50 percent in the past year.

Shares of Oberoi Realty soared as much as 5.4 percent on July 22 as investors cheered for the company's solid earnings performance for the April-June quarter of FY25.

At 09.16 am, shares of Oberoi Realty were trading at Rs 1,738.10 on the NSE. The scrip has witnessed strong profit booking in the past month, plunging over 10 percent after it recorded stellar gains of over 50 percent in the past year.

The real estate major's net profit surged close to 82 percent on year to Rs 584.50 crore in Q1 of FY25, up from Rs 321.60 crore recorded in the corresponding quarter of the preceding fiscal.

The sharp uptick in net profit was aided by robust revenue growth of 54.4 percent to Rs 1,405.20 crore in the quarter under review, as against Rs 910 crore in the year-ago period.

"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," said Vikas Oberoi, Chairman and Managing Director, of Oberoi Realty.

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Oberoi further added that the Indian real estate market witnessed strong demand across various segments, solidifying its position as the preferred investment avenue.

That aside, the real estate company's operational performance also improved drastically in Q1. Its EBITDA margin swelled up 300 basis points year-on-year to 58 percent in the June quarter as compared to 52 percent in the base period. Brokerage firm Motilal Oswal Financial Services believes the sharp margin expansion to be driven by higher revenue recognition from the company's luxury project, 360 West.

Shedding light on future growth plans, Oberoi also stated that the company is gearing up for new project and tower launches, scaling up its annuity assets and strategic land acquisitions.

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