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Oberoi Realty soars on bullish brokerage call

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Last Updated : Dec 04 2024 | 3:16 PM IST

Oberoi Realty jumped 4.53% to Rs 2,152 after a foreign brokerage firm initiated coverage on the stock with a "Buy" rating and a price target of Rs 2,500.

The brokerage highlighted the company's robust pre-sales performance and strong cash generation as key drivers of future growth. It expects Oberoi Realty to embark on an aggressive business development strategy, with pre-sales projected to grow at a CAGR of 40% between FY24 and FY27. The brokerage also forecasts an impressive EBITDA margin of over 50%.

Oberoi Realty is a Mumbai based real estate development company. It is focused on premium developments in the residential, office space, retail, hospitality and social infrastructure projects.

The real estate developer's consolidated net profit surged 29.05% to Rs 589.44 crore on 8.42% increase in revenue from operations to Rs 1319.89 crore in Q2 FY25 over Q2 FY24.

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First Published: Dec 04 2024 | 3:02 PM IST

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