Oberoi Realty advanced 5.4% to Rs 314 at 10:38 IST on BSE after consolidated net profit rose 32.89% to Rs 108.88 crore on 50.56% growth in total income to Rs 330.26 crore in Q1 June 2016 over Q1 June 2015.
The company announced Q1 June 2016 result on Saturday, 20 August 2016.Meanwhile, the S&P BSE Sensex was down 134.41 points or 0.48% at 27,942.59
On BSE, so far 62,000 shares were traded in the counter as against average daily volume of 16,778 shares in the past one quarter. The stock hit a high of Rs 322.40 in intraday trade so far, which is 52-week high for the counter. The stock hit a low of Rs 311 so far during the day. The stock had hit a 52-week low of Rs 209.05 on 2 September 2015. The stock had underperformed the market over the past one month till 19 August 2016, rising 0.12% compared with 1.32% rise in the Sensex. The scrip, however, outperformed the market in past one quarter, gaining 11.59% as against Sensex's 10.97% rise.
The large-cap company has equity capital of Rs 339.36 crore. Face value per share is Rs 10.
Oberoi Realty said that total area booked was 1.47 lakh square feet in Q1 June 2016 as against 0.81 lakh square feet in Q1 June 2015. The order book stands at Rs 3993 crore at the end of Q1 June 2016 as against Rs 2705 crore at the end of Q1 June 2015.
Commenting on the results, Vikas Oberoi, Chairman & Managing Director, Oberoi Realty said that major policy and process changes along with the government's Ease-of-Doing-Business initiative and focus on fast-tracking of the approval process, have brought in fresh optimism to the markets and have been major enablers for the realty sector.
Oberoi Realty is India's leading real estate development company, headquartered in Mumbai, focused on premium developments in the residential, office space, retail, hospitality and social infrastructure verticals.
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