Oberoi Realty shares climb nearly 7% as Q1 net profit surge 82% YoY to ₹584.5 crore

The Oberoi Realty stock climbed as much as 6.6% to hit an intraday high of ₹1,782 apiece on the NSE. By 1:00 pm, the real estate sector stock trimmed some of its gains to trade over 4% higher at ₹1,749 apiece.

In a stock exchange notification after the market hours on Friday, Oberoi Realty said that its consolidated revenue for Q1FY25 stood at ₹1,442 crore, up 54.4% from ₹933.5 crore a year ago. However, it was down 7.4% from a revenue of ₹1,558.5 crore seen in the previous quarter.

The consolidated profit after tax (PAT) was ₹584.4 crore for Q1FY25, up 82% compared with ₹321.4 crore for Q1FY24. Sequentially, PAT declined 25.8% from ₹787.7 crore in Q4FY24.

Commenting on the Q1 FY25 results, Oberoi Realty’s chairman and managing director Vikas Oberoi said, “We are pleased to announce another successful quarter, driven by healthy demand in the luxury real estate market with homeowners constantly looking to elevate their lifestyle.”

“We are gearing up for new project and tower launches, scaling up our annuity assets and strategic land acquisitions. We are committed to achieving sustainable growth, with a focus on creating lasting value for all our stakeholders,” he added.

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