Oberoi Realty has disclosed a 12 per cent rise in consolidated net profit at Rs 83.72 crore for the September 30 quarter end owing to higher sales. Its net profit is seen at Rs 74.45 crore in the year-ago period. Income from operations rose to Rs 252.02 crore during July-September period of this financial year from Rs 190.77 crore in the same period of the last year. Total income grew to Rs 264.67 crore from Rs 203.69 crore in the year-ago period.
During the first six months of this financial year, the company has clocked consolidated revenue of Rs 594.93 crore versus Rs 423.03 crore in the same period of last fiscal. Net profit increased to Rs 192.59 crore in the first half of this fiscal as as compared to Rs 156.38 crore in the year-ago period. The aggregate area booked in the second quarter of 2016-17 fiscal was 1.77 lakh sq ft as against 0.63 lakh sq ft booked in the year-ago period.
Additionally, the different initiatives announced by the government have bettered market sentiment thus accelerating sales volumes. Maharashtra government's retained focus on infrastructure in Mumbai is helping bridge the infrastructure divide, acting as an added incentive for the sector here, Oberoi feels. The company has a total of 39 finished projects across Mumbai.
As seen on 21st Oct, Oberoi Realty share price settled below 3 per cent at Rs. 331.95. The stock touched the day’s high and low at Rs. 338.00 and Rs. 325.00.
The stock touched its yearly high value at Rs. 348.90 on 17th Oct ’16 whereas the 52 week low value is seen at Rs. 212.00 on 25th Feb ’16. Oberoi Realty is one of the top 500 performing stocks for this quarter, identified by Dynamic Levels.
For further details on the stock, please a pay a visit to Oberoi Realty share price history.
For further details on the stock, please a pay a visit to Oberoi Realty share price history.
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