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Informist, Monday, Apr. 28, 2025

 

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--Oberoi Realty Jan-Mar consol PAT INR 4.33 bln 
--Analysts saw Oberoi Realty Jan-Mar consol net profit INR 6.59 bln 
--Oberoi Realty Jan-Mar consol PAT INR 4.33 bln vs INR 7.88 bln year ago 
--Oberoi Realty Jan-Mar consol sales INR 11.50 bln vs INR 13.15 bln year ago 
--Oberoi Realty FY25 consol PAT INR 22.26 bln vs INR 19.27 bln year ago 
--Oberoi Realty FY25 consol sales INR 52.86 bln vs INR 44.96 bln year ago 
--Oberoi Realty Jan-Mar consol real estate segment revenue INR 10.97 bln 
--Oberoi Realty Jan-Mar consol hospitality segment revenue INR 533.1 mln 
--Oberoi Realty to pay INR 2 per share interim dividend, record date May 5

 

By Anjana Therese Antony

 

MUMBAI – Oberoi Realty Ltd.'s Jan-Mar top line and bottom line not only missed the Street's expectations but also fell on year for the first time in five quarters. The realty player's overall financial performance was axed by the fall in core revenue, a sharp decline in other income, and surge in costs. Analysts had expected the company to benefit from stable demand from its residential segment, revenue from which declined. 

 

The company's consolidated net profit in the reporting quarter fell 45% on year to INR 4.33 billion, failing to meet analysts' expectation of INR 6.59 billion. Its revenue declined nearly 13% on year to INR 11.50 billion, also falling short of the Street's anticipation of INR 16.13 billion. The sequential growth picture was also similar, with the bottom line falling 30% and the top line decreasing over 18%. The real estate developer's other income also nosedived sharply by 74% from the previous year to INR 631.9 million from INR 2.44 billion. 

 

Oberoi Realty's consolidated revenue from core segment, real estate, declined to INR 10.97 billion in the reporting quarter from INR 12.66 billion a year ago. On other hand, its hospitality segment's sales increased to INR 533.1 million from INR 484.5 million. 

 

Adding to the pressure in the fall in bottom line figures were the surge in most cash outflow figures. The company's costs on land, development rights, construction, and related factors jumped 207% from a year ago to INR 5.87 billion. Its other expenses such as finance costs, depreciation and amortisation, and other expenses also increased 60-80% during the March quarter. The pressure in financial performance was also evident from the fall in the opearting margin, which shrunk to 53.74% in the March quarter from 59.98 in the year-ago period and from 60.67% a quarter ago. 

 

For the financial year ended March, the company's consolidated bottom line increased nearly 16% on year to INR 22.26 billion and the top line rose 18% to INR 52.86 billion. It also announced an interim dividend of INR 2 per share and the record date for the same is May 5. The realty company released its quarterly results after market hours Monday and its shares closed 3.2% higher at INR 1,656.80 on the National Stock Exchange. 

 

During the December quarter results, the company had said that it has enough ready apartments to sell. "..we will continue to sell. There's really no issue," Vikas Oberoi, chairman and managing director, had said in the call with analysts during the previous quarter results. The March quarter earnings call of the company with analysts is scheduled at 1600 IST Tuesday and investors will closely watch for management comments on demand, business outlook, and margins.  End

 

Edited by Akul Nishant Akhoury

 

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