Oberoi Realty Q1 Results Review - Sustained Performance In The Residential Segment: Motilal Oswal

NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Motilal Oswal Report.Oberoi Realty Ltd.’s pre-sales more than doubled YoY (12% above estimate) to Rs 10.7 billion, driven by strong bookings at the ‘360-West’, Worli project, which contributed Rs 4.8 billion to pre-sales across bookings of six units.  The sales traction across other projects at Borivali (Rs 1.9 billion) and Mulund (Rs 1.3 billion) sustained on a YoY basis but was weak sequentially. Elysian Goregaon’s pre-sales grew 64% YoY to Rs 2 billion, after the successful launch of the third tower in Q4 FY24. Forestville, Thane (launched in Q3) clocked bookings of Rs 0.6 billion across 32 units. Collections dipped 9% YoY to Rs 10 billion. Oberoi generated an operating cash flow (post-WC) of Rs 6.6 billion, which was partially utilized to reduce debt. Net debt stood at Rs 8.4 billion versus Rs 12.5 billion as of March 2024, with a debt/equity ratio of 0.06 times. P&L performance: Revenue rose 54% YoY to Rs 14.0 billion (41% above estimate) led by higher recognition in 360-West. Ebitda stood at Rs 8.2 billion, up 72% YoY, led by 600 bp margin expansion to 58% due to product mix. Profit after tax, at Rs 5.8 billion, rose 82% YoY and was 46% above our estimate; the margin stood at 42%..Click on the attachment to read the full report:.Oberoi Realty Q1 Results: Profit Rises 82%, Beats Estimates.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Oberoi Realty Q1 Results Review - Sustained Performance In The Residential Segment: Motilal Oswal

A major part of the re-rating depends on re-investment of strong cash flow generation as the company monetises its completed and near-completion inventories, says the brokerage.

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Oberoi Realty Q1 Results Review - Sustained Performance In The Residential Segment: Motilal Oswal

A major part of the re-rating depends on re-investment of strong cash flow generation as the company monetises its completed and near-completion inventories, says the brokerage.

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