Oberoi Realty - Festive Fervour Drives Strong Sales Performance: ICICI Securities
BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Securities Report
As per its Q3 FY22 operations update, Oberoi Realty Ltd. has clocked Q3 FY22 sales bookings of Rs 19.7 billion (up 137% QoQ) which is significantly ahead of our estimate of Rs 13.3 billion.
The QoQ uptick in sales is along expected lines as the company had launched Elysian Tower B in Goregaon in the last week of October 2021 and had sold inventory worth Rs 7.9 billion within a week of the launch.
In Q2 FY22, Oberoi Realty had clocked sustenance sales of Rs 8.3 billion without any new launches and it appears that a similar performance has been repeated in Q3 FY22.
In Q4 FY22, the expected Thane launch and receipt of Occupation Certificate at 360 West, Worli are key factors for driving sales.
Click on the attachment to read the full report:
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.