Oberoi Realty stock gains for 4th day in a row, touches new all-time high – here's why
Oberoi Realty shares extended their winning streak for the fourth consecutive day on Thursday, posting a surge of 8.70% to close at ₹1,711 per share. The stock also registered a new record high of ₹1,727.95 during the session. Investor confidence remained high following the company's strong performance in Q4 and FY24, which was released during Wednesday's trading hours.
The company reported record quarterly and annual profit driven by robust sales and operational excellence. In Q4FY24, the company reported a consolidated revenue of ₹1,558.56 crore, up from ₹1,082.85 crore in Q3FY24, while FY24 revenue reached ₹4,818.77 crore, compared to ₹4,293.20 crore in FY23. Its consolidated profit after tax for Q4FY24 surged to ₹787.71 crore from ₹360.02 crore in Q3FY24, with FY24 profits reaching ₹1,925.17 crore compared to ₹1,903.93 crore in FY23.
Also Read Investors 'most bullish' on equities in almost 3 years: BofA Fund Manager Survey In FY24, bookings totaled ₹39.4 billion, a 22% YoY increase. The performance was bolstered by the launch of the new tower at Elysian, generating ₹8 billion in bookings in January '24. Additionally, three units at the ultra-luxury project 360 West were booked, totaling ₹2.2 billion.
Collections surged by 26% YoY to reach ₹10.8 billion, while net debt decreased by ₹9 billion to ₹12 billion, resulting in a debt-to-equity ratio of 0.09x. The company's near-term launch pipeline remains robust, with domestic brokerage firm Motilal Oswal projecting a 41% CAGR in bookings from FY24 to FY26, amounting to ₹79 billion. Also Read: DLF’s spot cemented by robust launch pipeline, premium demand OBER's completed projects, including Sky City Phase 1, 360-West, and Eternia Enigma, have the potential to collectively
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