Oberoi Realty lost 1.38% to Rs 204.15 at 11:26 IST on BSE, after consolidated net profit dropped 46.93% to Rs 77.03 crore on 29.9% fall in total income to Rs 228.49 crore in Q4 March 2014 over Q4 March 2013.
The result was announced on Saturday, 10 May 2014.
Meanwhile, the S&P BSE Sensex was up 336.15 points or 1.46% at 23,330.38
On BSE, so far 18,933 shares were traded in the counter as against average daily volume of 21,472 shares in the past one quarter.
The stock hit a high of Rs 206 and a low of Rs 200 so far during the day. The stock had hit a record low of Rs 154 on 4 September 2013. The stock had hit a 52-week high of Rs 282.50 on 20 May 2013.
The stock had underperformed the market over the past one month till 9 May 2014, falling 5.31% compared with 1.29% rise in the Sensex. The scrip also underperformed the market in past one quarter, rising 12.23% as against Sensex's 12.85% rise.
The mid-cap company has equity capital of Rs 328.23 crore. Face value per share is Rs 10.
On a consolidated basis, Oberoi Realty's net profit fell 38.37% to Rs 311.06 crore on 25.44% decline in total income to Rs 855.51 crore in the year ended 31 March 2014 (FY 2014) over the year ended 31 March 2013 (FY 2013).
Total area booked declined to 0.48 lakh sq ft in Q4 March 2014 as against 1.18 lakh sqft sold in Q4 March 2013 and the total value was Rs 112.17 crore in Q4 March 2014 as against Rs 222.66 crore in Q4 March 2013.
Oberoi Realty said total area booked declined to 2.88 lakh sqft in FY14 as against 4.96 lakh sqft sold in FY13 while total value also declined to Rs 693 crore for FY14 as against Rs 868.69 crore for FY13.
Commenting on the results, Mr. Vikas Oberoi, Chairman & Managing Director, Oberoi Realty said, Our financial prudence has enabled us to use economic cycles to our advantage. Three key developments in the last few months clearance by the Hon'ble Supreme Court of the land in Mulund, the appointment of The Ritz-Carlton as the hospitality partner for the Worli development and the acquisition of the land in Borivali - has placed us in a unique position to capitalise on the changing market sentiments due to expected political stability in the center.
Oberoi Realty is a real estate developer headquartered in Mumbai.
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