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Yes Securities Report
Oberoi Realty Ltd. reported the weak pre-sales of 0.15 million square feet translating to Rs 4,763 million of which 47% was contributed by the Sky City, while remaining was contributed equally by Eternia, Enigma and Elysian.
Oberoi Mall reported revenue/Ebitda of Rs 378/Rs 358 up by 3.7%/9.1% QoQ wherein rental rates per/square feet/month was up by 3.5% QoQ to Rs 273.
Office assets cumulatively reported revenue of Rs 348 million, declined by 6% QoQ with Ebitda of Rs 321 million.
The Westin recorded average room rate/revenue per available room of Rs 11,602 (-15.5% QoQ)/ Rs 9,525 (-17.6% QoQ) resulted in revenue of Rs 394 million with operating margin of 37% declined by 800 bps QoQ.
Oberoi Realty plans to launch three of five towers of Pokhran-II, Thane in second /third week of October 2023 and similarly five towers of Kolshet in subsequent quarters which will help the company to improve their sales bookings.
Additionally, plans to launch another tower of Elysian in Q2/Q3 FY24. Management to hand over Borivali Mall (1.1 million square feet leasable area) for fit outs in Feb/March 2024 and will be fully operational by next year festive season.
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