Mumbai, October 18, 2024: Oberoi Realty Ltd, a prominent real estate company, has reported strong financial performance for the second quarter (Q2) ending on September 30, 2024. The company posted a 28% year-on-year (YoY) increase in net profit, which surged to ₹589.4 crore, up from ₹456.8 crore in the corresponding quarter of the previous fiscal.
The board of directors has declared a second interim dividend for FY24-25 at the rate of ₹2 per equity share, which equates to 20% of the face value of ₹10 per share.
Oberoi Realty's shares closed at ₹1,927.05 on Friday, reflecting an increase of ₹23.50 or 1.23% on the BSE. The results were announced after market hours, with the company's strong performance boosting investor confidence.
| Metric | Q2 FY24-25 | Q2 FY23-24 | YoY Growth |
|---|---|---|---|
| Net Profit | ₹589.4 crore | ₹456.8 crore | 28% |
| Revenue from Operations | ₹1,320 crore | ₹1,217.4 crore | 8.4% |
| EBITDA | ₹813.8 crore | ₹638.2 crore | 27.5% |
| EBITDA Margin | 61.7% | 52.4% | — |
Oberoi Realty’s consistent financial performance highlights its strong position in the real estate sector. The company's ability to grow profit margins and declare dividends reflects its stable operations and confidence in future prospects.
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