Strong prospects fully priced in for real estate firm Oberoi Realty stock

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

Mumbai-based real estate developer Oberoi Realty is seeing strong investor interest. The company achieved pre-sales of Rs 1,760 crore in the January-March quarter of the last financial year (Q4FY24), up 160 per cent year-on-year (Y-o-Y), which was in line with optimistic consensus.

In FY24, bookings reached Rs 3,940 crore, up 22 per cent Y-o-Y. The Q4FY24 performance was driven by the new tower at Elysian (at Goregaon in Mumbai), which generated Rs 800 crore of bookings at the launch in January 2024. The company has also got bookings for three units at its ultra-luxury project 360 West (Worli, in Mumbai),