Oberoi Realty rose 3.46% to Rs 277.95 at 10:22 IST on BSE after consolidated net profit rose 16.4% to Rs 79.23 crore on 18.09% growth in revenue to Rs 219.60 crore in Q3 December 2014 over Q3 December 2013.
The Q3 result was announced after market hours on Friday, 16 January 2015.
Meanwhile, the S&P BSE Sensex was up 174.96 points or 0.62% at 28,296.85.
On BSE, so far 38,000 shares were traded in the counter as against average daily volume of 51,649 shares in the past one quarter.
The stock hit a high of Rs 281.80 and a low of Rs 275.15 so far during the day. The stock had hit a 52-week high of Rs 298.10 on 24 December 2014. The stock had hit a 52-week low of Rs 181.55 on 14 February 2014.
The stock had outperformed the market over the past one month till 16 January 2015, advancing 10.46% compared with Sensex's 5.01% rise. The scrip had also outperformed the market in past one quarter, jumping 30% as against Sensex's 8.16% rise.
The mid-cap real estate firm has equity capital of Rs 328.23 crore. Face value per share is Rs 10.
Commenting on the company's Q3 results, Mr. Vikas Oberoi, Chairman & Managing Director, Oberoi Realty said, "Our Prime Minister Mr Modi's endeavour to put India's economy back on track is now yielding results. The increase in sales volume during this quarter also clearly establishes that the economy is back on the growth path. The recent announcement by the RBI to decrease the interest rates will give a further impetus to the real estate sector. We hope to announce the launch of our Borivali project between March and June. On the back of these developments, we will continue to channelize our efforts to bring greater value to our shareholders".
Oberoi Realy, headquartered in Mumbai, focuses on premium developments in the residential, office space, retail, hospitality and social infrastructure verticals.
Powered by Capital Market - Live News
