Oberoi Realty Limited, headquartered in Mumbai, announced its results for the first half of FY24 and the second quarter of FY24. The Company has recorded Consolidated Revenue of Rs. 2,177.36 crores for H1FY24 as against Rs. 1,646.60 crores for H1FY23. Further, the Consolidated Revenue for Q2FY24 is Rs. 1,243.80 crores as against Rs. 933.56 crores for Q1FY24.
The Consolidated Profit Before Tax for H1FY24 is Rs. 1,025.12 crores as against Rs. 904.64 crores for H1FY23. Further, the Consolidated Profit Before Tax for Q2FY24 is Rs. 598.89 crores as against Rs. 426.22 crores for Q1FY24.
The Consolidated Profit After Tax is Rs. 777.45 crores for H1FY24 as against Rs. 722.01 crores for H1FY23. Further, the Consolidated Profit After Tax for Q2FY24 is Rs. 456.06 crores as against Rs. 321.36 crores for Q1FY24.
Commenting on the Q2FY24 results, Vikas Oberoi, Chairman & Managing Director, Oberoi Realty, said, “India has sustained its growth momentum and emerged as the fastest growing major economy in this fiscal year. Despite the headwinds from renewed geo-political tensions and sluggish global demand, India’s macroeconomic outlook is optimistic and firmly bolstered by strong domestic fundamentals. We believe the real estate market will continue its upward trajectory through consistently surging demand for established brands, spacious apartments and a desire for home ownership. We expect a strong demand in retail, driven by the festive season and increased consumer confidence. As one of India’s largest real estate brands, we are excited about our much-awaited foray into Thane as we launch our first residential project that follows the tenets of New Urbanism and offers aesthetically designed homes and a positive lifestyle upgrade."
