Oberoi Realty Q3 profit up 7% at Rs 148 cr despite decline in net income

Oberoi Realty has reported 7 per cent increase in consolidated net profit at Rs 148.24 crore for the quarter ended December despite fall in total income.

Its net profit in the year-ago period stood at Rs 137.93 crore.

Total income, however, fell to Rs 536.53 crore in the third quarter of 2019-20 from Rs 548.79 crore in the same period a year ago, according to a regulatory filing.

"The Union Budget and the new RBI policy have paved the path to growth and liquidity. Reputed corporates thrive in challenging times due to their ability to adapt and deliver value to their stakeholders," CMD Vikas Oberoi said.

"We have also seen a marked improvement in buyer interest across all our projects; our diversified businesses also continue to perform well," he added.

Mumbai-based Oberoi Realty is one of the leading real estate developers in the country.