Oberoi Realty Q4 Review - All-Time High Sales Volume Driven By New Launches: ICICI Direct
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ICICI Direct Report
Oberoi Realty Ltd.’s Q4 FY21 sales volume at 1.06 million square feet, was an all-time high, up a staggering ~7.3 times YoY on a depressed base of Q4 FY20 and strong 103% QoQ growth, driven by new launches.
On the financials front, reported revenue grew 28.4% YoY to Rs 790.1 crore.
The reported growth was led by residential segment revenue recognition, which was at Rs 682 crore, up ~41% YoY, owing to healthy sale of complete/near complete projects like Esquire, Enigma and Sky City that translated to high revenue recognition.
Ebitda at Rs 373.5 crore was only up 0.8% YoY as the base quarter had lower cost recognition.
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