Oberoi Realty's Q2 Sales Dip Amid Profit Spike

Oberoi Realty's sales bookings dipped by 10% to Rs 1,299.06 crore in Q2 due to lower volumes, marking a decline from Rs 1,442.46 crore last year. Despite this, the company reported a 29% increase in consolidated profit to Rs 760.26 crore, showcasing higher revenues and maintaining its real estate prominence.

Oberoi Realty has reported a decline of 10% in its sales bookings to Rs 1,299.06 crore for the second quarter of this fiscal year. The Mumbai-based developer, focused predominantly on the luxury housing sector, sold properties worth Rs 1,442.46 crore in the same period last year.

According to the latest investor presentation, the firm sold 158 units covering 2,50,701 square feet in Q2, compared to 2,75,780 square feet in the year-ago period. Despite this drop, Oberoi Realty collected Rs 1,352.82 crore in the current fiscal's July-September period.

Interestingly, the company reported a 29% rise in its consolidated profit to Rs 760.26 crore during the second quarter, riding on a surge in total income that reached Rs 1,844.84 crore, compared to Rs 1,358.62 crore the previous year, solidifying its leadership among country's real estate developers.

(With inputs from agencies.)