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ICICI Direct Report
Oberoi Realty Ltd. reported a strong operating performance.
The company sold ~1.04 million square feet, up 104% YoY, with sales value of Rs 1965 crore, up 102% YoY driven by newly launched Elysian Tower B in Goregaon in the last week of October 2021.
On the financial front, reported revenues were muted YoY at Rs 832 crore with residential segment revenue recognition, which was at Rs 709.1 crore, up ~0.8% YoY.
Oberoi Realty's profit after tax was at Rs 467.5 crore, (up 63% YoY), with beat due to recognition of Worli projects (under profit from associates).
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