Oberoi Realty Limited, headquartered in Mumbai, today announced its results for the first quarter of FY18. The company has recorded Consolidated Revenues of Rs. 270.32 crore for Q1FY18 as against Rs. 302.03 crore for Q4FY17 and Rs. 329.97 crore for Q1FY17.
The Consolidated Profit Before Tax for Q1FY18 was Rs. 131.18 crore as against Rs. 150.24 crore for Q4FY17 and Rs.162.83 crore for Q1FY17.
The Consolidated Profit After Tax for Q1FY18 was Rs. 91.37 crore as against Rs. 101.82 crore for Q4FY17 and Rs.108.54 crore for Q1FY17.
Commenting on the Q1FY18 results, Mr. Vikas Oberoi, Chairman & Managing Director, Oberoi Realty Limited said, “At Oberoi Realty, we welcome the recently introduced unified tax structure, GST and are confident that it will truly strengthen the country’s economy. As a company, we believe GST is a huge positive and have already started passing on the benefits to our existing and new customers. We also believe that implementation of RERA is an advantage for both developers and customers as it will bring in the much needed transparency and clarify the rights and obligations of the developers and buyers. We believe that we are well positioned to capitalise on the opportunities that will arise.
We view all compliances as necessary milestones for evolution and growth and are well-equipped to adapt to the new regulatory requirements. With the onset of RERA and GST, we are already witnessing an increase in customer confidence and an improved market sentiment. Our under-construction projects are proceeding as planned. Keeping in mind the positive market sentiment, consistent growth
in the economy and an optimistic stock market we expect this trend to stay.
About Oberoi Realty Limited
Oberoi Realty Ltd. is India’s leading real estate development company, headquartered in Mumbai. It is focused on premium developments in the residential, office space, retail, hospitality and social infrastructure verticals. In the real estate space, Oberoi Realty is an established brand with an impeccable track record. Its primary aim is to build aspirational developments for its customers with distinctive designs, functional aesthetics and quality finishes that translate into landmark projects through its mixed-use and single-segment developments. This mix of innovative design, planning initiatives and use of cutting-edge technologies has enabled the company to successfully deliver 39 completed projects across Mumbai, the financial capital of India. More information about the company is available on www.oberoirealty.com
Forward Looking Statement
Certain statements in this document may be forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties like regulatory changes, local political or economic developments, technological risks, and many other factors that could cause our actual results to differ materially from those contemplated by the relevant forward looking statements. Oberoi Realty Limited will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.
For further details, please contact:
Ms. Reema Kundnani
Vice President, Head – Marketing, Corporate Communications and Luxury Residential Sales, Oberoi Realty