Oberoi Realty - Strong Sustenance Sales Ahead Of Festive Season: ICICI Securities
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ICICI Securities Report
As per its maiden operations update, Oberoi Realty Ltd. has clocked Q2 FY22 sales bookings of Rs 8.3 billion with no new launches and this performance is close to Q4 FY21 sustenance sales which were at Rs 9.7 billion excluding Elysian Goregaon launch.
Oberoi Realty is targeting launches in H2 FY22 across Thane and Borivali/Goregaon and other ongoing projects to coincide with the festive season.
While exact timing and quantum of launches is awaited, we expect the company to clock at least Rs 35 billion of sales bookings in FY22E and over Rs 45 billion each in FY23-24E owing to new launches and inventory in Worli/Mulund/Borivali projects.
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