Oberoi Realty Q2 FY25 Financial Results: 29% Profit Growth
In an impressive financial performance, Oberoi Realty has announced a 29.05% increase in its net consolidated profit for the second quarter of the financial year 2024-25. The company’s profit after tax surged to ₹589.44 crore, compared to ₹456.76 crore in the same quarter of the previous fiscal year, according to a recent filing with the Bombay Stock Exchange (BSE).
The Oberoi Realty Q2 FY25 financial results also reported a 9.23% rise in its net consolidated total income, which reached ₹1,358.62 crore in Q2 FY25, up from ₹1,243.80 crore in the corresponding period last year.
In a move to reward shareholders, the board of directors declared a second interim dividend of ₹2 per equity share for the financial year 2024-25. Additionally, during the quarter ending September 30, 2024, Oberoi Realty redeemed ₹70 crore of its Series III Non-Convertible Debentures (NCDs) through a face value reduction, demonstrating prudent financial management.
The board has approved a strategy to raise up to ₹6,000 crore by issuing equity and/or equity-linked instruments through private placement, including a qualified institutional placement, to enhance the company’s financial foundation.
As of September 30, 2024, Oberoi Realty reported a robust net worth of ₹14,799.98 crore, with a favorable debt-equity ratio of 0.14. The company’s current liability ratio stood at 0.56, while the total debts to total assets ratio was an impressive 0.10. With an operating margin of 61.66% and a net profit margin of 43.39%, Oberoi Realty continues to demonstrate strong operational efficiency, as highlighted in the Oberoi Realty Q2 FY25 financial results.
In related news, the National Company Law Tribunal (NCLT) in Mumbai has approved the resolution plan submitted by Oberoi Realty regarding the corporate insolvency resolution process (CIRP) of Nirmal Lifestyle (NLRPL). This plan includes payments to various creditors amounting to ₹273 crore and a commitment to subscribe to 100% equity shares of NLRPL valued at ₹100 lakh within 90 days of the NCLT’s approval.
Overall, the Oberoi Realty Q2 FY25 financial results underline the company’s strategic financial decisions and robust performance, solidifying its position as a leader in the real estate sector, with promising prospects for the future.
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