Oberoi Realty’s net profit increases by 81.73% in Q1 FY25, Real Estate News, ET RealEstate
NEW DELHI: Oberoi Realty has reported a growth of 81.73 per cent in its net consolidated profit during the quarter ended June 30, 2024. Its profit after tax stood at Rs 584.51 crore in Q1 FY25 as against Rs 321.64 crore it registered in the corresponding quarter of the previous fiscal, the company said in a BSE filing.
The company’s net consolidated total income stood at Rs 1,441.95 crore in Q1 FY25, a growth of 54.46 per cent from Rs 933.56 crore it recorded in the similar quarter last year.
Vikas Oberoi, chairman and managing director of the company said, “We are gearing up for new project and tower launches, scaling up our annuity assets and strategic land acquisitions.”
As on June 30, 2024, its net worth stood at Rs 14,283.38 crore, debt-equity ratio was 0.15, current liability ratio was 0.59, total debts to total assets ratio was 0.11, operating margin was 58% and net profit margin was 40.54%.
During the quarter ended June 30, 2024, the company, in exercise of the option available to it under the terms of the Issue, had redeemed (i) the entire outstanding amount of Rs 14 crore from series II NCDs resulting in full redemption of the said debentures, and (ii) an amount of Rs 100 crore series III NCDs by way of face value reduction.
