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Oberoi Realty on Thursday reported a 19 per cent decline in consolidated net profit at Rs 232.65 crore for the March quarter due to higher expenses.

Its net profit stood at Rs 286.85 crore in the year-ago period.

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Total income rose to Rs 842.94 crore for the quarter under review as against Rs 800.87 crore in the corresponding period of the previous year, according to a regulatory filing.

Net profit increased to Rs 1,047.10 crore in FY22 over Rs 739.29 crore in the preceding year.

In the last fiscal, total income rose to Rs 2,752.42 crore as compared to Rs 2,090.59 crore in 2020-21, the Mumbai-based real estate developer said.

The company’s board has approved enabling resolutions to raise up to Rs 1,500 crore through the issuance of non-convertible debentures by way of private placement in one or more tranches.

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It also approved raising of up to Rs 2,000 crore through issue of equity shares or any other securities convertible into equity. PTI MJH SHW SHW

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