Oberoi Realty Sees 82% Surge in Q1 Net Profit

Oberoi Realty Ltd reported an 82% increase in consolidated net profit to Rs 584.51 crore for the first quarter of the current fiscal, driven by higher income and robust demand in the luxury real estate market. The total income rose to Rs 1,441.95 crore, with net profit at Rs 1,926.60 crore last fiscal year.

Oberoi Realty Ltd has reported an impressive 82 percent increase in its consolidated net profit, reaching Rs 584.51 crore for the first quarter of the current fiscal year, buoyed by higher income figures.

The company's net profit stood at Rs 321.64 crore during the same period last year, highlighting significant financial growth.

Total income for the April-June quarter of 2024-25 also saw a rise, climbing to Rs 1,441.95 crore from Rs 933.56 crore in the previous year's corresponding period, as per a regulatory filing on Friday.

Vikas Oberoi, Chairman and Managing Director, attributed this success to India's status as the fastest-growing major economy, its solid economic foundations, and proactive policymaking.

'The Indian real estate market continues to attract strong demand across various segments, affirming its position as a prime investment choice,' Oberoi said.

Oberoi Realty plans new project and tower launches, aims to scale up annuity assets, and focus on strategic land acquisitions.

'We are committed to sustainable growth, aiming to create lasting value for all stakeholders,' Oberoi added.

Headquartered in Mumbai, Oberoi Realty is a leading developer in residential, office, retail, and hospitality projects. Last fiscal year, the company posted a net profit of Rs 1,926.60 crore on a total income of Rs 4,818.77 crore.

(With inputs from agencies.)