Fri, Jan 29, 2021
Oberoi Realty surprised positively as revenue jumped to 1.5x/2.6x YoY/QoQ. Booking value also jumped to Rs 9.7 bn during the quarter (vs 3.3 bn in Q3 FY20). We expect the momentum to continue for ORL, given the stamp duty cut, low- interest rate, strong brand recognition and market consolidation. Residential launches remain on track to hit the market from Q4 FY21 in Borivali, Goregaon and Thane. Platform deals for commercial assets are off-the table for the time being.
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Wed, Jan 27, 2021
Oberoi Realty Q3 Review: Jefferies has raised FY21/22/23 earnings by 17%/4%/6% on higher sales. Jefferies set their target at NAV of Rs 668 (Rs 682, remove platform upside). It has maintained BUY on Oberoi Realty with new launches and price increments as triggers. Oberoi Realty's multi-year-high sales and P&L performance in Q3 has boosted management's confidence in the residential business with pricing improvement and new launches likely over the next year.
Fri, Jan 27, 2017
Vikas Oberoi, Chairman & Managing Director, Oberoi Realty Limited said, "While initially demonetisation did its short-term consequences, we are confident that the sales volume will be more than restored in coming quarters of 2017."
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