Oberoi Realty announces financial results

Mumbai, January 28, 2022: Oberoi Realty Limited, on Friday announced its results for the third quarter of FY22 and nine months of FY22. The company has recorded Consolidated Revenue of Rs. 846.19 crore for Q3FY22 as against Rs. 768.52 crore for Q2FY22 and Rs. 1,909.48 crore for 9MFY22 as against Rs. 1,289.71 crore for 9MFY21.

The Consolidated Profit Before Tax was Rs. 551.22 crore for Q3FY22 as against Rs. 361.94 crore for Q2FY22 and Rs. 1,022.78 crore for 9MFY22 as against Rs. 569.56 crore for 9MFY21.

The Consolidated Profit After Tax was Rs. 467.73 crore for Q3FY22 as against Rs. 266.55 crore for Q2FY22 and Rs. 815.08 crore for 9MFY22 as against Rs. 454.07 crore for 9MFY21.

Commenting on the Q3FY22 results, Vikas Oberoi, Chairman & Managing Director, Oberoi Realty Limited said, “The real estate sector has witnessed a very strong sales momentum in the last few quarters. This is primarily due to supply side consolidation and a shift in consumer preference towards established players. Historically low interest rates are also supporting a spur in the volumes. In the commercial segment, we see that the leasing activity is gradually picking up and with the pandemic easing out, the retail business is also set to make a comeback”.