Motilal Oswal's research report on Oberoi Realty
Oberoi Realty’s (OBER) pre-sales grew 49% YoY to INR14.4b (80% above estimate) in 2QFY25, driven by strong bookings at ‘360-West’ project in Worli, which contributed INR6.6b to pre-sales across bookings of six units. Elysian Goregaon’s pre-sales jumped 147% YoY to INR3.2b after the successful launch of the third tower in 4QFY24. Sales traction was weak at Borivali (INR1.3b), while at Mulund (INR2.7b), it was higher by 25% YoY and doubled sequentially. Forestville Thane (launched in 3Q) clocked bookings of INR0.6b across 29 units.
Outlook
which already accounts for prospective business development in the near term. Reiterate Neutral with a TP of INR2,056, indicating a 3% upside potential.
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