Key takeaways of the conference call

Revenue for the quarter ended Dec 2014 was up by 18% to Rs 219.6 crore with operating revenue up by 29% to Rs 206.88 crore and non operating revenue down by 50% to Rs 12.72 crore. Strong growth in operating revenue was largely due to 49% jump in revenue from projects to Rs 132.55 crore and that of hospitality was up by 10% to Rs 32.75 crore. However the revenue from rentals was marginally down to Rs 41.61 crore compared to Rs 41.68 crore in the corresponding previous period. With EBITDA margin expand to 57.6% from 48.3% in corresponding previous period the EBITDA was up by 41% to Rs 126.55 crore and the PAT was up by 16% to Rs 79.23 crore.

The Esquire and Oasis Residential where the company has booked sales for a value of Rs 1444.05 crore and RS 357.37 crore respectively and both these projects are yet to reach the revenue recognition threshold.

Oberoi Exquisite – The project is completed to the extent of 99% and the company recognized revenue to the extent of Rs 1655.45 crore so far Dec 31, 2014 against a sales booking of Rs 1680.18 crore. Similarly in case of Privera, where the work is completed to the extent of 69%, the company has recognized revenue to the extent of 29.17 crore as against sales booking of Rs 29.17 crore. Inventory in Priviera is about 14100 sft as against total estimated area of 18800 sft.

Launched Prisma at JVLR in December 2014. As end of Dec 2014 the company has sold an area of 72711 sft (or Rs 126.42 crore) out of total saleable area of 268750 sft. Average sales price of prisma is about Rs 17386/sft.

On January 14, 2015, the company has launched two projects at Mulund – Eternia and Enigma.

Hope to announce the launch of our Borivali project between March and June.

Concluded the first transaction for leasing in Commerz II Phase I at Goregaon.

The recent announcement by the RBI to decrease the interest rates will give a further impetus to the Real Estate Sector.