Oberoi Realty: Impressive 82% Growth in FY23

17 May 2023
2 mins read
Company's profits have surged, plans to raise Rs 1,500 crore and recommend dividend distribution.
Oberoi Realty: Impressive 82% Growth in FY23

As the season of financial results is on, Oberoi Realty Ltd has reported results for Q4FY23 and year ended on March 31 2023.   

In comparison to the same quarter last year, the company’s net profit for the fourth quarter that ended on March 31, 2023, increased by 106.71% to Rs 480.29 crore from Rs 232.35 crore on a consolidated basis. In Q4FY23, the company’s total revenue climbed by 18.05% to Rs 995.11 crore from Rs 842.94 crore in the similar quarter the year prior. Profits for quarter ended March FY23 were driven by strong operating margin performance as there was a fall in raw material cost and other expenses.    

The company reported an 81.89% increase in net profit for the year ended March 31, 2023, from Rs 1047.10 crore to Rs 1904.54 crore on a consolidated basis. When compared to the year ended March 31, 2022, the company’s total revenue climbed by 55.98%, reaching Rs 4293.20 crore as compared to Rs 2752.42 crore for the year ended March 31, 2022.   

The company’s board of directors has approved an enabling resolution that permits the issuance of non-convertible debentures in one or more offerings and/or tranches for up to a total of Rs 1,500 crore.   

A dividend of Rs 4 per equity share with a face value of Rs 10 was also recommended by the company’s board of directors for the fiscal year ending March 31, 2023. If approved by the company’s shareholders, this dividend will be paid beginning no later than the fifth day following the conclusion of the annual general meeting.  

In yesterday’s trading session it closed at Rs 975.50 and today it opened at Rs 971.05 and currently it is trading at Rs 917.65. As of now 69,592 shares were traded over the counter at BSE. The BSE group ‘A’ stock has a market cap of Rs around 33,400 crore.    

Oberoi Realty Ltd is a real estate development company, headquartered in Mumbai. It is a part of Oberoi Realty Group, focused on developments in the residential, office space, retail, hospitality and social infrastructure verticals.