Oberoi Realty recorded a significant increase in net consolidated profit for the quarter ended March 31, 2023, with a growth of 106.71%. The company's profit after tax rose to Rs. 480.29 crore compared to Rs. 232.35 crore in the same period of the previous fiscal year. Net consolidated total income also witnessed a notable increase of 18.05% to Rs. 995.11 crore. The company's board of directors has proposed a dividend of Rs. 4 per share for the fiscal year 2022- 2023. Additionally, the board approved the issuance of non-convertible debentures for a maximum total of Rs. 1,500 crores.
The net consolidated profit for the quarter ended March 31,2023, at Oberoi Realty increased by 106.71%. The
company witnessed a profit after tax of Rs. 480.29 crore in Q4 FY23 compared to Rs. 232.35 crore it had in the same
period of the previous fiscal year. Net consolidated total income for the company increased by 18.05% to Rs. 995.11
crore from Rs. 842.94 crore in the same quarter last year.
The company's board of directors has suggested a dividend of Rs 4 per share for the fiscal year 2022–2023. The board
also approved a resolution permitting the issuance of non-convertible debentures in one or more offerings for a
maximum total of Rs.1,500 crores.
Oberoi Constructions, a wholly owned subsidiary of Oberoi Realty, has announced that it will exit one of its joint
ventures with Oasis Realty (AOP) on March 3, 2023. The group has recognised a deferred tax asset of Rs 176.36 crore
as a result of eliminating its share of profit which totalled Rs 700.76 crore on the unsold inventories the company
acquired from the former joint venture. This asset will be reversed depending on the subsequent sale of the purchased
units. The company had Rs 2,951.29 crore in outstanding debt as of March 31, 2023.
Oberoi Realty is a renowned real estate development company based in Mumbai, India. With a focus on creating
luxurious residential, commercial and mixed-use properties, Oberoi Realty has established itself as a prominent player
in the Indian real estate market. The company is known for its commitment to quality construction, attention to detail,
and adherence to timelines. They have successfully delivered several landmark projects that embody sophistication,
innovation, and sustainability.
Advertisement
Facebook
Whatsapp
