Oberoi Realty posts strong set of numbers in Q2FY19

Mumbai based real estate firm, Oberoi Realty’s consolidated revenue for the second quarter of FY19 came in at Rs. 592.11 crore, registering 95.1 per cent yoy increase. This was primarily driven by strong growth in real estate (94 per cent of total revenue) which recorded 104 per cent yoy growth.

EBITDA for the quarter rose by 80.7 per cent yoy to Rs. 295.84 crore with a corresponding margin contraction of 399 bps. EBITDA margin for the quarter stood at 50 per cent. This margin contraction was led by increase in operating cost in proportion to revenue.

The PAT for the quarter came in at Rs. 213.83 crore, yoy increase of 105 per cent. This was partly due to higher other income (Rs. 27.67 crore in Q2FY19 vs Rs. 4.97 crore in Q2FY18).

Ahead of its quarterly result, the stock of Oberoi Realty in Monday’s trading session remained flat and closed at Rs. 378.6 apiece, up by almost 1.6 per cent from previous close.