The shares of real estate companies dropped in trade on July 22 as weak results by Oberoi Realty dampened investor sentiment. The fall in the share prices pushed the Nifty Realty index down over 1 percent to hover around 996 in the morning.
Oberoi Realty on July 21 reported a net profit of Rs 421 crore for the first quarter of the financial year 2026. This marks a nearly 28 percent decline from the Rs 584 crore net profit reported in the corresponding quarter of the previous financial year.
Its revenue from operations declined around 30 percent on-year to Rs 987.55 crore, while net profit margin reduced to 39.22 percent during the quarter under review. EBITDA meanwhile stood at Rs 607 crore.
Along with the Q1 results, the company also announced an interim dividend of Rs 2 per equity share for its eligible shareholders. The record date to determine the eligibility of the shareholders set to receive the payment has been set on July 25, and if approved, the dividend will be paid on or before August 7.
Speaking about the company’s performance during the quarter, Chairman and Managing Director Vikas Oberoi said, “Demand for luxury homes remains strong, fuelled by rising aspirations and a growing desire for an enhanced lifestyle. We are pleased to report another healthy quarter, driven by successful tower launch at Elysian, Oberoi Garden City Goregaon. At Oberoi Realty, we remain focused on creating developments that foster vibrant communities — through thoughtfully designed homes, premium retail, world-class hotels, and sustainable living experiences.”
Oberoi Realty has started its preparations towards new project launches for the rest of the year, and it is pursing attractive land acquisitions, he added.
Vikas Oberoi further noted that the Indian economy continues to display remarkable resilience and sustainable growth despite a challenging global economic and geopolitical landscape. “With strong macroeconomic fundamentals, a growing aspirational population, robust domestic demand, and a stable external position, India is placed favourably for growth amongst the major global economies,” he said.
Oberoi Realty shares were down nearly 1 percent to hover around Rs 1,821 apiece. Earlier during the day, the stock has dropped nearly 3 percent to hit an intraday low of Rs 1,781 apiece. The stock has dropped nearly 6 percent in the past one month, but rose 3 percent in the past six months.
Raymond shares were the top loser on the realty index, dropping 2 percent to trade at Rs 723 apiece. Phoenix Mills and Anant Raj shares were down nearly 2 percent each. Godrej Properties, Brigade Enterprises and Macrotech Developers (Lodha) shares were down around 1 percent each.
DLF, Sobha and Prestige Estates shares were hovering in the red with marginal losses.
Also read: Our LIVE blog on stock market updates
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