The realty major's board has approved the proposal for raising of funds upto Rs 6,000 crore by way of issuance of equity shares, eligible securities, other securities or instruments or any combination of securities by way of private placement.
The company may raise funds including a qualified institutions placement, or through any other permissible mode or combination of modes as may be considered appropriate in one or more tranches, subject to approval of the shareholders and any regulatory and/or statutory authorities, if applicable.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 developers consolidated net profit surged 81.73% to Rs 584.51 crore on 54.42% increase in revenue from operations to Rs 1405.16 crore in Q1 FY25 over Q1 FY24.
The scrip jumped 2.78% to close at Rs 1,885.35 on Thursday, 10 October 2024.
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