|
Net sales (including other operating income) of Oberoi Realty for the quarter ended Jun 2022 has increased 221.23% to Rs 913.11 crore. Sales of Real Estate segment has gone up 217.67% to Rs 878.30 crore (accounting for 96.19% of total sales). Sales of Hospitality segment has gone up 348.01% to Rs 34.81 crore (accounting for 3.81% of total sales). Profit before interest, tax and other unallocable items (PBIT) has jumped 315.83% to Rs 484.48 crore. PBIT of Real Estate segment rose 292.51% to Rs 471.96 crore (accounting for 97.42% of total PBIT). PBIT of Hospitality reported profit of Rs 12.52 crore compared to loss of Rs 3.73 crore. PBIT margin of Real Estate segment rose from 43.49% to 53.74%. PBIT margin of Hospitality segment rose from negative 48.01% to 35.97%. Overall PBIT margin rose from 40.99% to 53.06%. Operating profit margin has jumped from 43.93% to 53.90%, leading to 294.15% rise in operating profit to Rs 492.17 crore. Employee cost decreased from 5.58% to 2.28%. Other expenses fell from 49.76% to 36.12%. Other direct service cost fell from 45.56% to 33.44%. Other income rose 106.27% to Rs 21.7 crore. PBIDT rose 279.55% to Rs 513.87 crore. Provision for interest rose 88% to Rs 32.6 crore. PBDT rose 307.68% to Rs 481.27 crore. Provision for depreciation fell 3.07% to Rs 9.78 crore. Profit before tax grew 336.73% to Rs 471.49 crore. Share of profit/loss was 2,611.98% higher at Rs 45.29 crore. Provision for tax was expense of Rs 113.7 crore, compared to Rs 29 crore. Effective tax rate was 22.00% compared to 26.45%. Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 399.91% to Rs 403.08 crore. Promoters’ stake was 67.70% as of 30 June 2022 ,compared to 67.70% as of 30 June 2021 .
Management Comments :
Commenting on the Q1FY23 results, Mr. Vikas Oberoi, CMD, Oberoi Realty, said, “With the increased economic activity and a strong consumer sentiment towards home ownership, there is a consumption led momentum across all our residential projects. Our other business portfolios - commercial and retail - have also bounced back. With people coming back to office there is a strong impetus to the commercial segment. Our retail portfolio has also demonstrated a commendable performance with footfalls going back to and exceeding pre-Covid levels. At Oberoi Realty, we are committed to deliver value to all our stakeholders and believe in developing projects that strive to offer an enhanced, sustainable and healthy lifestyle. With a strong pipeline of new launches and a capability to design space that meets every need of the customer, Oberoi Realty is placed in a leading position in the real estate sector”.
| Oberoi Realty : Consolidated Results | | | Quarter ended | Year ended |
|---|
| Particulars | 202206 | 202106 | Var.(%) | 202203 | 202103 | Var.(%) |
|---|
| Net Sales (including other operating income) | 913.11 | 284.25 | 221.23 | 2,693.97 | 2,052.58 | 31.25 | | OPM (%) | 53.90 | 43.93 | 997 bps | 43.85 | 48.74 | -489 bps | | OP | 492.17 | 124.87 | 294.15 | 1,181.34 | 1,000.39 | 18.09 | | Other Inc. | 21.70 | 10.52 | 106.27 | 58.45 | 38.01 | 53.78 | | PBIDT | 513.87 | 135.39 | 279.55 | 1,239.79 | 1,038.40 | 19.39 | | Interest | 32.60 | 17.34 | 88.00 | 86.03 | 76.04 | 13.14 | | PBDT | 481.27 | 118.05 | 307.68 | 1,153.76 | 962.36 | 19.89 | | Depreciation | 9.78 | 10.09 | -3.07 | 39.78 | 41.19 | -3.42 | | PBT | 471.49 | 107.96 | 336.73 | 1113.98 | 921.17 | 20.93 | | Share of Profit/(Loss) from Associates | 45.29 | 1.67 | 2,611.98 | 239.6 | 3.25 | 7,272.31 | | PBT before EO | 516.78 | 109.63 | 371.39 | 1353.58 | 924.42 | 46.42 | | EO Income | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 516.78 | 109.63 | 371.39 | 1353.58 | 924.42 | 46.42 | | Taxation | 113.7 | 29 | 292.07 | 306.48 | 185.13 | 65.55 | | PAT | 403.08 | 80.63 | 399.91 | 1047.1 | 739.29 | 41.64 | | Minority Interest (MI) | 0 | 0 | - | 0 | 0 | - | | Net profit | 403.08 | 80.63 | 399.91 | 1047.1 | 739.29 | 41.64 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 403.08 | 80.63 | 399.91 | 1047.1 | 739.29 | 41.64 | | EPS (Rs)* | 11.09 | 2.22 | 399.91 | 28.80 | 20.33 | 41.64 | | | * EPS is on current equity of Rs 363.60 crore, Face value of Rs 10, Excluding extraordinary items. | | # EPS is not annualised | | bps : Basis points | | EO : Extraordinary items | | Figures in Rs crore | | Source: Capitaline Corporate Database |
|
| Oberoi Realty : Consolidated Segment Results | | | Quarter ended | Year ended |
|---|
| % of (Total) | 202206 | 202106 | Var.(%) | % of (Total) | 202203 | 202103 | Var.(%) |
|---|
| Sales | | Real Estate | 96.19 | 878.30 | 276.48 | 217.67 | 97.33 | 2,622.02 | 2,020.05 | 29.80 | | Hospitality | 3.81 | 34.81 | 7.77 | 348.01 | 2.67 | 71.95 | 32.53 | 121.18 | | Total Reported Sales | 100.00 | 913.11 | 284.25 | 221.23 | 100.00 | 2,693.97 | 2,052.58 | 31.25 | | Less: Inter segment revenues | | 0.00 | 0.00 | - | | 0.00 | 0.00 | - | | Net Sales | 100.00 | 913.11 | 284.25 | 221.23 | 100.00 | 2,693.97 | 2,052.58 | 31.25 | | PBIT | | Real Estate | 97.42 | 471.96 | 120.24 | 292.51 | 99.38 | 1,158.08 | 994.13 | 16.49 | | Hospitality | 2.58 | 12.52 | -3.73 | LP | 0.62 | 7.21 | -10.16 | LP | | Total PBIT | 100.00 | 484.48 | 116.51 | 315.83 | 100.00 | 1,165.29 | 983.97 | 18.43 | | Less : Interest | | 32.60 | 17.34 | 88.00 | | 86.03 | 76.04 | 13.14 | | Add: Other un-allcoable | | 64.90 | 10.46 | 520.46 | | 274.32 | 16.49 | 1,563.55 | | PBIT Margin(%) | | Real Estate | | 53.74 | 43.49 | 1,024.60 | | 44.17 | 49.21 | -504.57 | | Hospitality | | 35.97 | -48.01 | 8,397.18 | | 10.02 | -31.23 | 4,125.36 | | PBT | 100.00 | 516.78 | 109.63 | 371.39 | 100.00 | 1,353.58 | 924.42 | 46.42 |
|
|