Oberoi Realty (OBEROIRLTY) Q2 24/25 earnings summary

Executive summary

• Achieved strong revenue and net profit growth in H1FY25, with revenue from operations rising to Rs 272,505 lakh and net profit reaching Rs 117,395 lakh year-over-year.

• Operating margin improved to 59.77% in H1FY25, reflecting robust profitability across segments.

• Major project milestones included full Occupation Certificate for Enigma, Mulund, and Sky City Mall, Borivali, and successful NCLT bid for Nirmal Lifestyle Realty acquisition.

• Launched Oberoi Garden City Thane, recording sales of nearly INR 1,350 crores, about 50% of launch inventory.

• Oberoi Realty achieved top ESG ratings, including 4th in Asia (GRESB) and recognition among India's Top 3 Most Sustainable Companies in real estate.

Financial highlights

• Total income for H1FY25 reached Rs 280,057 lakh, up from Rs 217,736 lakh year-over-year.

• Diluted EPS for H1FY25 was Rs 32.29, up from Rs 21.41 in H1FY24.

• Operating cash flows for H1FY25 were Rs 150,652 lakh, with closing cash and bank balance at Rs 183,669 lakh.

• Thane project launch generated close to INR 1,350 crores in sales, reflecting strong demand.

• 360 West project saw significant sales and collections, though revenue recognition lags due to documentation timing.

Outlook and guidance

• Aggressive deployment of INR 6,000 crores fundraise planned within the next 4-5 months to acquire new land and fuel growth.

• Multiple launches possible in Goregaon, Borivali, and Thane, with readiness to trigger launches based on market conditions.

• Gurgaon project expected to launch in Q1 or Q2 of next financial year; long-term expansion in NCR planned.

• Management highlights robust project pipeline and continued focus on sustainability and operational excellence.

• Integration of climate risk and ESG criteria into enterprise risk management and supplier onboarding.