Oberoi Realty (OBEROIRLTY) Q2 24/25 earnings summary

Executive summary

• Revenue from operations for H1FY25 rose to Rs 272,505 lakh, up from Rs 212,738 lakh year-over-year, with net profit for H1FY25 at Rs 117,395 lakh compared to Rs 77,842 lakh in H1FY24.

• Operating margin improved to 59.77% in H1FY25 from 52.27% in H1FY24, reflecting strong profitability across segments.

• Achieved strong residential sales momentum, including a major Thane launch with sales of nearly INR 1,350 crores, and received full occupation certificates for Enigma, Mulund, and Sky City Mall, Borivali.

• Oberoi Realty achieved top ESG ratings, including 4th in Asia (GRESB) and recognition among India's Top 3 Most Sustainable Companies in real estate.

• The Board declared a second interim dividend of ₹2 per equity share for FY25.

Financial highlights

• Total income for H1FY25 reached Rs 280,057 lakh, up from Rs 217,736 lakh year-over-year.

• Net profit margin increased to 41.92% in H1FY25 from 35.75% in H1FY24.

• Diluted EPS for H1FY25 was Rs 32.29, up from Rs 21.41 in H1FY24.

• Operating cash flows for H1FY25 were Rs 150,652 lakh, compared to Rs 147,171 lakh in H1FY24.

• Cash and cash equivalents rose to ₹71,647 lakh at September 30, 2024, from ₹31,923 lakh at March 31, 2024.

Outlook and guidance

• Aggressive deployment of INR 6,000 crores fundraise planned within the next four to five months to acquire new land and fuel growth.

• Multiple new launches possible in Goregaon, Borivali, and Thane, with work already underway at several sites.

• Gurgaon project expected to launch in the first or second quarter of the next financial year.

• Glaxo Worli and Adarsh Nagar projects expected to start in the next financial year, pending design and approvals.

• Management highlights robust project pipeline and continued focus on sustainability and operational excellence.