Shares of this large-cap company jumped around 5 percent in Wednesday’s trading session after reporting an increase in net profits by 119 percent QoQ. In one year, the shares have delivered around 60 percent returns to its shareholders.
With a market capitalization of Rs. 57,021 crores, the shares of Oberoi Realty Ltd started Wednesday’s trading session on a higher note at Rs. 1,585 compared to its previous close of Rs. 1,519.25. During the trading session, the shares hit a high of Rs. 1,629.05, gaining around 5 percent and closed the day at Rs. 1,574 apiece.
Such a positive movement in the share price was observed after the company announced quarterly and financial year ended 31st March 2024 results. Quarterly, the revenue increased by 25 percent from Rs. 1,053.64 crores during the December quarter to Rs. 1,314.77 crores in the March quarter. In addition, the net profits magnified by 119 percent from Rs. 360.15 crores to Rs. 788.03 crores during the same timeframe.
Comparing these metrics on a YoY basis, the revenue zoomed by 38 percent from Rs. 961.43 crores during Q4FY23 to Rs. 1,341.77 crores in Q4FY24. On the other hand, the net profits surged by 64 percent from Rs. 480.29 crores to Rs. 788.03 crores during the same period.
Furthermore, the board has declared a third interim dividend of Rs 2 per equity share i.e. 20 percent of the face value of equity shares of Rs 10 each in respect of the fourth quarter of the financial year ended March 31, 2024.
Additionally, the company’s board of directors also recommended a final dividend of Rs. 2 per equity share i.e. 20 percent of the face value of equity share of Rs.10 each for the financial year ended March 31, 2024. The said dividend is subject to the approval of the company’s members.
Due to increasing operating revenue and profits on a YoY basis, the profitability metrics of the company improved with the return on equity (RoE) increasing from 10.58 percent during FY 21-22 to 16.83 percent in FY 22-23, and, the return on capital employed (RoCE) zoomed from 11.69 percent to 16 percent during the same timeframe. Further, the net profit margin increased from 38.87 percent during FY21-22 to 45.43 percent during FY22-23.
According to the latest shareholding pattern, the Promoters maintain a 67.71 percent stake, Foreign Institutional Investors (FIIs) possess 16.96 percent of shares, Domestic Institutional Investors (DIIs) hold a 12.83 percent stake, and the residual 2.49 percent is owned by Retail investors.
Headquartered in Mumbai, Oberoi Realty was incorporated in 1988. It is a part of Oberoi Realty Group, focused on developments in the residential, office space, retail, hospitality, and social infrastructure verticals.
Written By Vaibhav Patil
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