Oberoi Realty (OBEROIRLTY) Q1 25/26 earnings summary

Executive summary

• Elysian Tower D at Oberoi Garden City, Goregaon, saw a strong launch response and significant sales momentum, with bookings commencing in Q1FY26.

• INR 1,250 crore was received from a private equity transaction in I-Ven Realty, strengthening the joint venture's financial position.

• Unaudited consolidated net profit for Q1 FY26 was ₹42,125 lakh, down from ₹58,451 lakh year-over-year and ₹43,317 lakh sequentially.

• Revenue from operations for Q1FY26 was ₹98,755 lakh, a decrease from ₹1,40,516 lakh in Q1FY25 and ₹1,15,014 lakh in Q4FY25.

• Multiple awards received, including Best Companies to Work For and Best Construction Project for Sky City Mall.

Financial highlights

• Total assets increased to ₹23,40,710 lakh as of Q1FY26 from ₹19,93,268 lakh in Q1FY25.

• Closing cash and liquid investments at Q1FY26 were ₹2,95,015 lakh, up from ₹1,35,841 lakh in Q1FY25.

• Basic and diluted EPS for Q1FY26 was ₹11.59, versus ₹16.08 in Q1FY25 and ₹11.91 in Q4FY25.

• Net profit margin for Q1FY26 was 39.22%, compared to 40.54% in Q1FY25.

• Interim dividend of ₹2 per equity share (20% of face value) declared for FY26.

Outlook and guidance

• 100% occupancy is expected in Borivali and Commerz III within the current year, with Commerz III already at 85%+ occupancy.

• Upcoming launches include Borivali in Q3 and NCR (Gurgaon) in Q4, with Pedder Road and other projects also likely in Q4.

• Management notes that revenues may not accrue evenly across quarters due to project-based business cycles.

• Future launches in Thane will be timed with the development of social infrastructure like schools, malls, and hotels to drive premium pricing.

• From Q1FY26, gross booking value includes subvention amounts and stamp duty where applicable.