Buy Oberoi Realty; target Rs 310: ICICIdirect.com

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26 Aug, 2025 12:21

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ICICIdirect.com's research report on Oberoi Realty

Oberoi Realty's Q1FY14 results were largely in line with our estimates. The pre-sales volume of 48,960 square feet (sq ft) in Q1FY14 was, however, much lower than 1,24,054 sq ft in Q4FY13 clearly reflecting the subdued realty demand in Mumbai at higher price points.

Q1FY14 Earning Summary

• Oberoi Realty reported consolidated net sales of Rs 218.4 crore (higher by 9.3 percent YoY) in line with our expectation of Rs 218 crore
• The EBITDA margin at 61.1 percent was ahead our estimate of 58.8 percent given the higher margins in the residential segment
• The PAT at Rs 101.8 crore (up 1 percent YoY), was higher than our estimates of Rs 96.6 crore led by the superior margins
• The pre-sales volume of 48,960 sq ft in Q1FY14 was, however, much lower than 1,24,054 sq ft in Q4FY13 clearly reflecting the subdued realty demand in Mumbai at higher price points

"We will revisit our estimates and come out with a detailed update post the conference call today evening. Buy the stock with a target price of Rs 310," says ICICIdirect.com research report.

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