Oberoi Realty Limited announced its results for the third quarter of FY23 and nine months of FY23. The company has recorded Consolidated Revenues of Rs. 1,651.50 crore for Q3FY23 as against Rs. 711.79 crore for Q2FY23 and Rs. 3,298.10 crore for 9MFY23 as against Rs. 1,909.48 crore for 9MFY22.
The Consolidated Profit before Tax was Rs. 928.58 crore for Q3FY23 as against Rs. 387.86 crore for Q2FY23 and Rs. 1,833.20 crore for 9MFY23 as against Rs 1,022.78 crore for 9MFY22. The Consolidated Profit After Tax was Rs. 701.77 crore for Q3FY23 as against Rs. 318.53 crore for Q2FY23 and Rs. 1,423.77 crore for 9MFY23 as against Rs. 815.08 crore for 9MFY22.
Commenting on the Q3FY23 results, Vikas Oberoi, Chairman & Managing Director, Oberoi Realty, said, “India continues to be one of the fastest growing economies in the world. The residential market continues to grow due to the increase in demand for larger homes due to incremental income and financial stability. Our newly launched Tower G in our project Sky City, witnessed robust sales upon launch. We are happy to announce the recent acquisition of approx. 8.5 acres of land located at Pokhran Road, Thane, from Blue Star Limited. This would give us an additional saleable area of approx. 22.5 lakh sq. ft. in our existing Pokhran project. I am also pleased to announce Oberoi Realty’s successful conclusion of the acquisition of residential premises in the project ‘Three Sixty West’. With new project launches planned for the fourth quarter, we expect to end the year on a strong note as we continue to look out for future growth opportunities.”