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Informist, Thursday, May 7, 2026

MUMBAI – Oberoi Realty Ltd. is expected to report a sharp year-on-year jump in its consolidated net profit for the March quarter on the back of new tower launches and steady sales across existing projects, according to analysts. This marks the real estate developer's fastest year-on-year net profit growth in seven quarters and signals a sharp recovery.  The company's year-on-year revenue in Jan-Mar is also seen growing at the fastest pace in seven quarters.

For the March quarter, the real estate developer's net profit is expected to jump 62% year-on-year to INR 7.03 billion, according to the average of estimates from seven brokerages. In the December quarter, the company reported net profit growth of less than 1% year-on-year to INR 6.23 billion.

The highest estimate for net profit is INR 13.50 billion from Elara Securities (India) Ltd. and the lowest is INR 4.55 billion from JM Financial Institutional Securities Pvt. Ltd. Sequentially, the company's bottom line is expected to grow around 9%.

The company's top line for the March quarter is expected to jump over 44% year-on-year to INR 16.58 billion, according to the average of estimates. The highest revenue estimate is INR 18.24 billion from Kotak Securities Ltd. and the lowest is INR 13.11 billion from Nuvama Wealth Management Ltd.

Kotak Securities factors in INR 14.4 billion in revenue recognition from the residential segment, as well as pre-sales driven by the launch of a tower in Mumbai and ongoing sales in existing projects. The brokerage also expects the developer's investment properties to generate INR 3.6 billion in revenue, aided by rising rents at the commercial building Commerz III and higher earnings from the mall in Borivali, Mumbai. Sequentially, the consolidated revenue is seen rising 11%.

For the March quarter, the real estate developer reported a more than 96% year-on-year jump in its gross booking value to INR 16.73 billion. Sequentially, this represents a 100% increase. However, the company's gross booking value for 2025-26 (Apr-Mar) rose only 3% to INR 54.47 billion from INR 52.81 billion in FY25.

Further, while the company's units booked in the March quarter rose 194% year-on-year to 229, the number of units booked in FY26 fell 25% to 698 from 929 in FY25.

The company's consolidated earnings before interest, tax, depreciation, and amortisation are expected to jump 50% year-on-year to INR 10.24 billion for the March quarter, according to the average of estimates. Elara Securities has the highest EBITDA estimate at INR 16.60 billion, while Nuvama Wealth Management has the lowest at INR 7.36 billion. Sequentially, the company's EBITDA is seen rising over 10%.

Estimates for the real estate developer's EBITDA margin range from 52% by Prabhudas Lilladher Pvt. Ltd. to 59% by Motilal Oswal Financial Services Ltd., compared with 53.7% in the year-ago period and 57.4% in the December quarter.

Oberoi Realty has a diverse range of projects spanning residential, commercial, retail, and hospitality segments. The real estate developer will announce its earnings for the March quarter on May 8.

Of the eight brokerage reports on the company available with Informist, five have a 'buy' or equivalent recommendation on the stock, with an average target price of INR 1,898, about 13% higher than the current market price. Three brokerages have a 'hold' or equivalent recommendation, with an average target price of INR 1,689.

Thursday, Oberoi Realty's shares ended 0.1% higher at INR 1,675 on the National Stock Exchange. The stock is up 1% since the company reported its December quarter earnings in January.

The following are the Jan-Mar earnings estimates for Oberoi Realty from seven brokerages in descending order of the estimate of net profit in INR billion:

End

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

Edited by Saji George Titus

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