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ICICI Securities Report
After a washout quarter in Q1 FY21 where Oberoi Realty Ltd. achieved just Rs 0.2 billion of new sales bookings, Q2 FY21 saw sales bookings of Rs 3.3 billion (flat YoY) bouncing back to pre-Covid-19 levels.
Oberoi Realty’s management highlighted in the results call that the company is in talks with strategic investors to dilute stake in its operational and under-construction/upcoming office and mall annuity assets.
The funds would be infused at the special purpose vehicle level which would be utilised for growth capital and may eventually lead to a Real Estate Investment Trust listing in the medium term.
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