Oberoi Realty Limited, a leading real estate developer in India, has announced its first-quarter financial results for the fiscal year 2024-25 (Q1FY25). The company has recorded a significant increase in consolidated revenue to INR 1,441.95 crore, profit before tax to INR 775.03 crore, and profit after tax to INR 584.40 crore compared to the corresponding period in the previous year. The strong performance is attributed to the robust demand in the luxury real estate market, with homeowners continuously seeking to enhance their lifestyles. Oberoi Realty's Chairman and Managing Director, Vikas Oberoi, expressed the company's delight in the results and its commitment to providing customers with aesthetically designed, luxurious homes and a sustainable lifestyle, complete with world-class amenities.
Oberoi Realty Limited, headquartered in Mumbai, announced its results for the first quarter of FY25. The Company has recorded consolidated revenue of INR 1,441.95 crore for Q1FY25 as against INR 933.56 crore for Q1FY24 and INR 1,558.56 crore for Q4FY24.
The consolidated profit before tax for Q1FY25 is INR 775.03 crore as against INR 426.22 crore for Q1FY24 and INR 971.28 crore for Q4FY24.
The consolidated profit after tax (PAT) for Q1FY25 is INR 584.40 crore as against INR 321.36 crore for Q1FY24 and INR 787.71 crore for Q4FY24.
Oberoi Realty's Chairman and Managing Director, Vikas Oberoi, commented on the company's Q1FY25 results, stating that India remains the fastest-growing major economy, effectively navigating global challenges by leveraging its robust economic foundations and proactive policy decisions aimed at promoting growth. He further mentioned that the Indian real estate market has witnessed strong demand across various segments, solidifying its position as a preferred investment avenue.
Oberoi expressed the company's delight in announcing another successful quarter, driven by healthy demand in the luxury real estate market, with homeowners continuously seeking to enhance their lifestyles. He affirmed that Oberoi Realty will continue to stay true to providing customers with aesthetically designed, luxurious homes and a sustainable lifestyle, complete with world-class amenities.
Oberoi also mentioned that the company is gearing up for new project and tower launches, scaling up its annuity assets, and strategically acquiring land. He reiterated the company's commitment to achieving sustainable growth, with a focus on creating lasting value for all its stakeholders.
Oberoi Realty, one of the leading real estate developers in the country, is into the development of residential, office, retail and hospitality projects. During the last 2023-24 fiscal, the company posted a net profit of INR 1,926.60 crore over a total income of INR 4,818.77 crore.
Oberoi Realty's impressive Q1FY25 results showcase the company's ability to navigate the dynamic real estate market and deliver consistent growth. The company's focus on providing high-quality, luxury homes and its strategic initiatives, such as new project launches, scaling up annuity assets, and land acquisitions, position it well for continued success. Oberoi Realty's commitment to sustainable growth and creating lasting value for all its stakeholders further reinforces its position as a leading player in the Indian real estate industry.
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