Oberoi Realty Ltd shares surged 1.44% today following the announcement of its Q2 FY25 financial results and a second interim dividend. The stock’s last trading price on the BSE was ₹1,931.00 per share. Key highlights from the company’s financials for the quarter ended September 30, 2024, include:
- Net Profit: ₹589.4 crore, marking a 28% year-on-year (YoY) growth compared to ₹456.8 crore in Q2 FY24.
- Revenue from Operations: ₹1,320 crore, an 8.4% YoY increase from ₹1,217.4 crore in the corresponding quarter last year.
- EBITDA: ₹813.8 crore, up from ₹638.2 crore YoY, with an EBITDA margin of 61.7%, compared to 52.4% in the previous year.
The company declared an interim dividend of ₹2 per share (20% of the face value of ₹10). The record date for this dividend is November 4, 2024, and payment will commence on November 14, 2024.
Oberoi Realty’s stock has delivered impressive returns, gaining 33% in 2024, 72% in the last year, and 123% over the last two years. The brokerage Hem Securities has a “Buy” rating on the stock, with a target price of ₹2,197 per share, citing the company’s robust project pipeline and potential land deals that could drive future growth.
Oberoi Realty is a prominent Mumbai-based real estate developer, focusing on premium projects across various sectors including residential, office, retail, and hospitality.
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