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OBEROI REALTY LIMITED Earnings Release 2021
59434_rns_2021-01-22_ee493d3f-5a4f-4434-a56d-371de7857536.pdf
Earnings Release
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January 22, 2021
Department of Corporate Services BSE Limited, Mumbai 400001
The Listing Department National Stock Exchange of India Limited, Mumbai 400051
Through: BSE Listing Centre
Through: NEAPS
Scrip code: 533273
Scrip Symbol.' OBEROIRL TY
Sub: Press release on financial results for the quarter ended on ended December 31, 2020
Dear Sirs,
Please find attached herewith the Press Release on financial results for the quarter ended on December 31, 2020.
Request you to kindly take note of the above and oblige.
Thanking you.
For Oberoi Realty Limited
Encl: As above.
OBEROI REALTY ANNOUNCES Q3FY21 and 9MFY21 RESULTS
HIGHLIGHTS of Consolidated Financials for Q3FY21 and 9MFY21
- Revenue for Q3FY21 at Rs. 837.57 crore and 9MFY21 at Rs. 1,289.71 crore
- Profit Before Tax (PBT) for Q3FY21 at Rs. 360.99 crore and 9MFY21 at Rs. 569.56 crore
- Profit After Tax (PAT) for Q3FY21 at Rs. 286.43 crore and 9MFY21 at Rs. 454.07 crore
Mumbai, January 22nd, 2021: Oberoi Realty Limited, headquartered in Mumbai, today announced its results for the third quarter of FY21 and nine months of FY21. The Company has recorded Consolidated Revenues of Rs. 837.57 crore for Q3FY21 as against Rs. 536.53 crore for Q3FY20 and Rs. 1,289.71 crore for 9MFY21 as against Rs. 1,659.72 crore for 9MFY20.
The Consolidated Profit Before Tax was Rs. 360.99 crore for Q3FY21 as against Rs. 209.70 crore for Q3FY20 and Rs. 569.56 crore for 9MFY21 as against Rs. 618.09 crore for 9MFY20.
The Consolidated Profit After Tax was Rs. 286.43 crore for Q3FY21 as against Rs. 148.08 crore for Q3FY20 and Rs. 454.07 crore for 9MFY21 as against Rs. 438.43 crore for 9MFY20 .
Commenting on the Q3FY21 results, Mr. Vikas Oberoi, Chairman & Managing Director, Oberoi Realty Limited said, "Q3FY21 saw a convergence of multiple positive factors for resulting in our 9-month FY21 booking values surpassing the entire FY20 numbers. This assumes special significance considering that the beginning of FY21 has been severely impacted by the pandemic. Changing consumer behaviour towards buying living spaces for end use requirements of today instead of perennially waiting for better deals, statutory benefits provided by the state government, economic stimulus provided by the central government, low interest rates etc. have all contributed towards our performance. The volumes during the quarter shows a clear shift of home buyers towards developers with financial stability and a proven track record. The consolidation trend in the real estate sector has now truly begun.
Even the commercial segment is expected to see a turnaround in the near term driven by shortage of Grade A office spaces as developing them requires a high level of financial discipline and strong brand equity. Since few developers are able to achieve this today, we at Oberoi Realty Limited, are backing ourselves to build quality commercial assets."
About Oberoi Realty Limited
Oberoi Realty Ltd. is India's leading real estate development company, headquartered in Mumbai. It is focused on premium developments in the residential, office space, retail, hospitality, and social infrastructure verticals. In the real estate space, Oberoi Realty is an established brand with an impeccable track record. Its primary aim is to build aspirational developments for its customers with distinctive designs, functional aesthetics and quality finishes that translate into landmark projects through its mixed-use and single-segment developments. This mix of innovative design, planning initiatives and use of cutting-edge technologies has enabled the company to successfully deliver 42 completed projects across Mumbai, the financial capital of India. More information about the company is available on https://www.oberoirealty.com.
Forward Looking Statement
Certain statements in this document may be forward-looking statements. Such forwardlooking statements are subject to certain risks and uncertainties like regulatory changes, local political or economic developments, technological risks, and many other factors that could cause our actual results to differ materially from those contemplated by the relevant forwardlooking statements. Oberoi Realty Limited will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.
For further details, please contact:
Mr. Siddharth Setia, Vice President - Marketing & Corporate Communication, Oberoi Realty Ltd.
Ms. Vidya Morajkar, Manager, Corporate Communications, Oberoi Realty Ltd. [email protected]