The share of this midcap company jumps 4 percent after acquiring land measuring approximately 14.816 Acres in Haryana. The stock has delivered more than 50 percent returns to its shareholders on a YTD basis. 

With a market capitalization of Rs. 48,755 crores, Oberoi Realty Ltd shares opened Monday’s trading session positively at Rs. 1,348.15 compared to its previous close at Rs. 1,340. The share hit a high of Rs. 1,406.55 making a gain of around 4 percent, which is also recorded as the company’s fresh 52-week high. 

Such a bullish movement was observed after the company in an exchange filing announced that they had executed an agreement for sale with Ireo Residences Company Private Limited and others for acquiring land measuring approximately 14.816 Acres equivalent to 59,956.20 square meters at Sector 58, Gurugram, Haryana. 

Looking at the Financials of the company, the revenue increased by 34 percent from Rs. 909 crores in Q1 FY24 to Rs. 1217 crores during Q2 FY24. In addition, the net profit magnified by 42 percent from Rs. 321 crores to Rs. 456 crores during the same timeframe. 

Coming onto the important financial ratios, the return on equity (RoE) increased from 10.58 percent during FY 21-22 to 16.83 percent in FY 22-23. Furthermore, the return on capital employed (RoCE) increased from 11.91 percent to 16.83 percent during the same period. 

According to the latest shareholding pattern, the Promoters have a 67.70 percent stake in the company, the company has a good FII and DII holding of 17.83 percent and 11.62 percent respectively, and the remaining 2.85 percent are with the Retail Investors. 

Oberoi Realty Ltd is a Mumbai-based Real Estate Development Company that was incorporated in 1998. The company is focused on premium developments in residential office space retail hospitality and social infrastructure projects. 

Written By Vaibhav Patil


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