May 15, 2024: Real estate developer Oberoi Realty today announced its results for the fourth quarter (Q4 FY24) and financial year 2023-24 (FY24) ended March 31, 2024. The company has recorded consolidated revenue of Rs1,558.56 crore for Q4 FY24 as against Rs 1,082.85 crore for Q3 FY24. The consolidated revenue for FY24 stood at Rs 4,818.77 crore as against Rs 4,293.20 crore for FY23. The company’s EBITDA was at Rs 1,032.36 crore for Q4 FY24 as against Rs 538.57 crore for Q3 FY24. The EBITDA stood at Rs 2,732.85 crore in FY24 as against Rs 2,212.27 in FY23.
The company recorded consolidated profit before tax (PBT) of Rs 971.28 crore in Q4 FY24 as against Rs 479.33 crore for Q3 FY24. The consolidated PBT for FY24 stood at Rs 2,475.73 crore as against Rs 2,223.88 crore for FY23. Oberoi Realty’s consolidated profit after tax (PAT) for Q4 FY24 was Rs 787.71 crore as against Rs 360.02 crore for Q3 FY24. The consolidated PAT for FY24 stood at Rs 1,925.17 crore as against Rs 1,903.93 crore for FY23.
Vikas Oberoi, CMD, Oberoi Realty, said, “Indian economy has been resilient amongst the global major economies and on course to become the fourth largest in the world. Within the Indian real estate sector, the residential and commercial segments are poised to play pivotal roles.
The residential sector continues to witness significant sales traction driven by end-user demand and a rising desire for homeownership. In the last quarter, we launched Elysian Tower-C at our flagship integrated development Oberoi Garden City and we also delivered over 1,100 homes to residents at Sky City in Borivali. We recorded the highest ever quarterly and annual profits driven by robust sales momentum and healthy operational performance.”
“Our integrated developments will redefine the landscape of urban living and hospitality in MMR as we extend our longstanding association with Marriott International to develop hotels in Thane and Borivali. Our Grade-A offices at International Business Park witnessed sustained demand as occupiers focus on quality workspaces. We remain committed to develop our existing land parcels and explore new growth opportunities, leading to enhanced value for our stakeholders,” Oberoi added.
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Dhwani is a content management expert with over five years of professional experience. She has authored articles spanning diverse domains, including real estate, finance, business, health, taxation, education and more. Holding a Bachelor’s degree in Journalism and Mass Communication, Dhwani’s interests encompass reading and travelling. She is dedicated to staying updated on the latest real estate advancements in India.
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