Oberoi Realty Q2 PAT up 12%

oberoi_logoOberoi Realty Limited has reported 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 forH1FY16 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 forH1FY16 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.

Vikas Oberoi, Chairman & Managing Director, Oberoi Realty Limited said, “The real estate sector has been influenced by some significant policy changes, recent being themonetary 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’ continuesto 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”.

 





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