 "Oberoi Realty gains as Q3 more than doubles")
Oberoi Realty has surged 6% to Rs 265 on the BSE in early morning deals after the company reported 164% year-on-year (YoY) jump in consolidated net profit at Rs 209 crore for the quarter ended December 2015 driven by robust sales. The realty developer had profit of Rs 79 crore in a year ago quarter.
Total income for the quarter also grew 260% to 782 crore in December quarter against Rs 217 crore in the corresponding quarter of previous fiscal.
Commenting on the Q3FY16 results, Mr. Vikas Oberoi, Chairman & Managing Director, Oberoi Realty Limited said, “With a robust project pipeline across key locations in Mumbai; Borivali, Goregaon, Mulund and Worli and a relentless focus on design, quality and execution, we are confident that the company will continue to create value for its stakeholders.”
At 09:21 a.m. the stock was up 3.8% at Rs 260 on the BSE. The S&P BSE Sensex down 0.30% at 24,382 points. A combined 106,554 shares changed hands on the counter on the BSE and NSE.
Total income for the quarter also grew 260% to 782 crore in December quarter against Rs 217 crore in the corresponding quarter of previous fiscal.
Commenting on the Q3FY16 results, Mr. Vikas Oberoi, Chairman & Managing Director, Oberoi Realty Limited said, “With a robust project pipeline across key locations in Mumbai; Borivali, Goregaon, Mulund and Worli and a relentless focus on design, quality and execution, we are confident that the company will continue to create value for its stakeholders.”
At 09:21 a.m. the stock was up 3.8% at Rs 260 on the BSE. The S&P BSE Sensex down 0.30% at 24,382 points. A combined 106,554 shares changed hands on the counter on the BSE and NSE.
