Oberoi Group

Company net rises 20% in Q3, revenue up 8%

The company posted a net profit of Rs 618.38 crore

The company also outlined a robust expansion plan, with a pipeline of 20 properties to be completed by 2029. This includes 17 hotels, two luxury boats, and a Nile cruiser

The high court had earlier temporarily restrained the transfer of shares in EIH Ltd and EIH's holding companies, Oberoi Hotels Private Limited and Oberoi Properties Private

The management contract between EIH Holdings Ltd, a subsidiary of EIH Ltd, and Al Zorah Development Private Co Ltd will officially end on February 28, 2025

An FIR was registered against nine people, including IREO Group Managing Director Lalit Goyal and Oberoi Realty Limited Chairman and Managing Director Vikas Oberoi, under various sections of cheating, criminal breach of trust and forgery, police said on Sunday. The FIR was filed on the orders of the Chief Judicial Magistrate at the DLF phase 2 police station on Friday following a complaint lodged by Advance India Projects Limited (AIPL), citing allegations of cheating, criminal breach of trust and forgery against the accused, the police said. According to the FIR, IREO and Oberoi -- both realty groups -- are accused of conspiring to defraud allottees who had invested funds since 2013, thus not only deceiving investors but also defrauding the AIPL Group. In its complaint, AIPL claimed that IREO Group embezzled approximately Rs 1,777 crore and sent it out of the country, adding that about Rs 1,376 crore was recovered as advances from the allottees. AIPL alleged that IREO collected Rs

The group plans to open two new hotels - The Oberoi Rajgarh with 65 keys and The Oberoi Vindyavilas wildlife resort in the Bandhavgarh region of Madhya Pradesh - in the ongoing financial year

The revenue increased 37 per cent Y-o-Y to Rs 1,310 crore in Q4FY24 and Ebitda was at Rs 790 crore, up 114 per cent Y-o-Y with the margin increasing sharply to 60 per cent

Designed by Architectural Discipline, the new suites combine residential ambience with contemporary aesthetics

While this was up 25 per cent as compared to the year-ago quarter, it was down 18 per cent on a sequential basis despite a new launch

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Analysts expect the company to maintain its growth momentum and continue to deliver strong earnings growth with new project launches

Chairman Emeritus of The Oberoi Group Prithvi Raj Singh Oberoi, widely known as the doyen of Indian hospitality, passed away on Tuesday, leaving behind a rich legacy. "It is with deep sadness that we inform the peaceful passing of PRS Oberoi, Chairman Emeritus of The Oberoi Group, earlier today," a statement said. A luminary in the hospitality industry, Oberoi's legacy transcends borders, leaving an indelible mark on the global landscape, it added. PRS Oberoi received numerous awards and accolades, amongst the most noteworthy the Padma Vibhushan, in recognition of his exceptional contribution to the country in tourism and hospitality. He was also honoured with the Lifetime Achievement Award at ILTM ( International Luxury Travel Market), recognizing his exceptional leadership and vision. PRS Oberoi was presented with the 'Corporate Hotelier of the World' award by HOTELS magazine USA. The 6th International Hotels Investment Forum in Berlin honoured him with the prestigious Lifetime

To convert these concepts into practice, Biki introduced a 'transformation programme' into the existing hotels in the Group

Born in 1929, Biki Oberoi was the executive chairman of EIH Limited, the flagship company of the Oberoi Group, from 2002 to 2022

In 2008, Oberoi was awarded the Padma Vibhushan, India's second-highest civilian honour for his contributions to the hospitality industry

Reliance Industries and The Oberoi Hotels and Resorts will jointly manage three properties across India and the UK

Hospitality firm EIH Ltd, a part of the Oberoi group, on Friday reported an over three-fold rise in consolidated net profit at Rs 151.08 crore in the December quarter, on the back of higher revenue. The company had posted a consolidated net profit of Rs 41.85 crore in the same quarter a year ago, EIH Ltd said in a regulatory filing. Consolidated revenue from operations during the period under review stood at Rs 586.41 crore as compared to Rs 360.12 crore in the corresponding period last fiscal. Total expenses were higher at Rs 415.99 crore, up from Rs 313.87 crore in the third quarter last fiscal, the company said.