Oberoi Realty Ltd.'s profit rose in the fourth quarter of fiscal 2024, and surpassed analysts' estimates.
The real-estate player's consolidated net profit increased 64.1% year-on-year to Rs 788 crore in the quarter-ended March 2024, according to an exchange filing on Tuesday. Analysts tracked by Bloomberg had estimated a net profit of Rs 461.3 crore.
Revenue rose by 36.8% to Rs 1,315 crore, beating analysts' estimates of Rs 1,301 crore, as per Bloomberg.
Oberoi Realty Q4 FY24 Highlights (YoY)
Revenue up 36.8% to Rs 1,315 crore (Bloomberg estimate: Rs 1,301 crore).
Ebitda up 113.8% to Rs 789 crore (Bloomberg Estimate: Rs 592.3 crore).
Margin expands to 60% versus 38.3% (Bloomberg Estimate: 45.5%).
Net profit up 64.1% to Rs 788 crore (Bloomberg Estimate: Rs 461.3 crore).
The company declared a final dividend of Rs 2 per equity share.
It also passed a resolution for the issue of non-convertible debentures, up to an aggregate amount of Rs 2,000 crore, on a private placement basis.
Shares of Oberoi Realty closed 2.54% higher ahead of the results, as compared with a 0.45% rise in the benchmark Sensex.
Correction: Copy updated with correct Ebitda and Ebitda margin numbers.
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