OBEROI REALTY ANNOUNCES H1FY17 and Q2FY17 RESULTS

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HIGHLIGHTS of Consolidated Financials for H1FY17 and Q2FY17

· Revenue for H1FY17 at Rs. 594.93 crore and for Q2FY17 at Rs. 264.67 crore

· Profit Before Tax (PBT) for H1FY17 at Rs. 287.88 crore and Q2FY17 at Rs. 124.76 crore

· Profit After Tax (PAT) for H1FY17 at Rs. 192.59 crore and for Q2FY17 at Rs. 83.72 crore

Mumbai, October 21, 2016: Oberoi Realty Limited, headquartered in Mumbai, today announced its results for the first half of FY17 and second quarter of FY17. The Company has recorded Consolidated Revenue of Rs.594.93 crore for H1FY17 as against Rs. 423.03 crore for H1FY16 and Rs.264.67 crore for Q2FY17 as against Rs. 203.68 crore for Q2FY16.

The Consolidated Profit Before Tax for H1FY17 was Rs. 287.88 crore as against Rs. 232.62 crore for H1FY16 and Rs. 124.76 crore for Q2FY17 as against Rs. 109.72 crore for Q2FY16.

The Consolidated Profit After Tax for H1FY17 was Rs. 192.59 crore as against Rs. 156.38 crore for H1FY16 and Rs. 83.72 crore for Q2FY17 as against Rs. 74.45 crore for Q2FY16.

The aggregate area booked for Q2FY17 was 1.77 lakh sq. ft. as against 0.63 lakh sq. ft. booked in Q2FY16.

The order book stands at Rs. 4,043 crore as against Rs. 2,723 crore at the end of H1FY16.

Commenting on the results, Mr. Vikas Oberoi, Chairman & Managing Director, Oberoi Realty Limited said, “The real estate sector has been influenced by some significant policy changes, recent being the monetary policy announced by RBI, which will bring the cost of money down and encourage sales. Additionally, the various initiatives announced by the government have improved market sentiments thus accelerating sales volumes. The Maharashtra government’s sustained focus on infrastructure in Mumbai is helping bridge the infrastructure divide, acting as an added incentive for the sector here. The North-South Corridor Metro line work is already underway and the announcement of the new Metro line in the eastern suburb will connect all our projects with the arterial network of the city, offering superior connectivity to our customers. Our iconic development, ‘Three Sixty West’ continues to receive a remarkable response. We are also pleased to announce that the show apartments of ‘Sky City’, Borivali and ‘Esquire’, Oberoi Garden City – Goregaon are ready for viewing and are again receiving an unprecedented response. With encouraging initiatives from the government and a robust pipeline across key locations in Mumbai, we continue to focus on creating sustainable value for all our stakeholders”.

AWARDS & RECOGNITION:

· Oberoi Realty received “Most Aspiring Real Estate Brand – India” and “Best Residential High-Rise Architecture Brand – India” at the Global Brands Magazine Awards-UK

· Oberoi Realty was adjudged as the “Times Realty Icon” in the commercial segment for COMMERZ II at the Times Realty Icon 2016

· Oberoi Realty received “Residential Property of the Year – Sky City” and “Developer of the Year -Residential” at the Realty Plus Excellence Awards (West) 2016

About the Author

Sachin Murdeshwar
Sachin Murdeshwar is a Sr.Journalist and Columnist in several Mainline Newspapers and Portals.He is an ardent traveller and likes to explore destinations to the core.

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