Stock hits fresh 52-week high mark on stellar Q4FY24 results: Know more here!
Top line for FY24 amounted to Rs 4,818.77 crore, up from Rs 4,293.20 crore in FY23.
Today, the shares of Oberoi Realty Limited zoomed 3.53 per cent. Additionally, the stock hits fresh 52-week high mark of Rs 1629.15 apiece on BSE. Furthermore, the scrip witnessed a spurt in volume by more than 9.75 times. The company's current market capitalization standing at Rs 57,272.81 crore.
Stock performance:
On Wednesday, the stock opened at Rs 1584.95, with the previous closing being Rs 1521.45. The 52-week high and low are Rs 1,629.15 and Rs 883.60, respectively as per BSE.
Recent Development – Financial Highlights:
In the latest financial quarter (Q4FY24), the company reported significant growth in various key metrics. Revenue surged to Rs 1,558.56 crore from Rs 1,082.85 crore in the previous quarter (Q3FY24), while EBITDA reached Rs 1,032.36 crore, up from Rs 538.57 crore in Q3FY24. Similarly, net profit witnessed a notable increase, reaching Rs 787.71 crore compared to Rs 360.02 crore in the previous quarter.
Looking at the consolidated financials for the full fiscal year (FY24), the company displayed strong performance. Top line for FY24 amounted to Rs 4,818.77 crore, up from Rs 4,293.20 crore in FY23, with operating profit at Rs 2,732.85 crore compared to Rs 2,212.27 crore in the previous fiscal year. Similarly, bottom line for FY24 reached Rs 1,925.17 crore, slightly higher than Rs 1,903.93 crore in FY23. These financial highlights indicate a robust performance and growth trajectory for the company in both the quarterly and annual periods.
Other developments:
Oberoi Realty's board of directors has given the green light to raise funds amounting to Rs 4,000 crore through the issuance of non-convertible debentures (NCDs) and a qualified institutional placement (QIP) of equity shares. Under this plan, the company intends to issue NCDs totaling up to Rs 2,000 crore via private placement, with the remaining funds to be raised through the QIP route. This strategy enables Oberoi Realty to secure capital in stages, ensuring flexibility in its fundraising efforts.
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About the Company:
Based in Mumbai, Oberoi Realty Ltd is a prominent player in the real estate sector, specializing in various segments including residential, office spaces, retail, hospitality, and social infrastructure. As a key entity within the Oberoi Realty Group, the company is dedicated to delivering high-quality developments and projects across diverse verticals.
The product-wise breakdown indicates that the majority of the company's focus lies in the real estate sector, accounting for 95.33% of its operations, followed by hospitality at 4.67%. In terms of geographical presence, the company's operations are entirely concentrated within India, with no significant presence in the rest of the world.
Furthermore, the stock has experienced significant buying activity, yielding returns of more than 59 per cent in the last one year.
Disclaimer: The article is for informational purposes only and not investment advice.