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Hot Pursuit News

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(15 May 2024, 13:03)

Oberoi Realty gains as Q4 PAT climbs 64% YoY to Rs 788 cr

Oberoi Realty advanced 2.83% to 1,564.45 after the company’s consolidated net profit jumped 64.07% to Rs 788.03 crore on 36.75% increase in revenue from operations to Rs 1,314.77 crore in Q4 FY24 over Q4 FY23.

Profit before tax soared 148.61% year on year to Rs 971.28 crore in the quarter ended 31 March 2024.

The company’s revenue from real estate business stood at Rs 1,266.32 crore (up 38.34% YoY) while Hospitality income was at Rs 48.45 crore (up 5.07%) during the quarter.

On full year basis, the company’s consolidated net profit rose 1.15% to Rs 1,926.60 crore on 7.23% increase in revenue from operations to Rs 4,495.79 crore in FY24 over FY23.

Vikas Oberoi, chairman & managing director, Oberoi Realty, said, “Indian economy has been resilient amongst the global major economies and on course to become the fourth largest in the world. Within the Indian real estate sector, the residential and commercial segments are poised to play pivotal roles.

The residential sector continues t...

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