Oberoi Realty Q2 net profit at Rs. 104 crore

Oberoi Realty Q2 net profit at Rs. 104 crore

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Oberoi Realty Ltd has posted results for the second quarter. The net profit for the quarter stood at Rs. 104 crore.

The consolidated revenue for the quarter was at Rs. 304 crore.

During the quarter, the company paid dividend of Rs. 2 per equity share for the financial year 2016-17.

The aggregate area booked for Q2FY18 was 1.73 lakh sq. ft. as against 1.77 lakh sq. ft. booked in Q2FY17.

The order book stands at Rs. 4,052 crore as against Rs. 4,043 crore at the end of H1FY17.

Vikas Oberoi, Chairman & Managing Director, Oberoi Realty Limited said, “This quarter has seen the implementation of the biggest tax reform in the country – GST. Additionally, RERA has been a huge game-changer for the real estate sector. With the onset of RERA and GST, we are already witnessing an increase in customer confidence and an improved market sentiment. We believe that credible players are likely to gain ground and unorganised players will be pushed out and we will witness consolidation in the sector.

As a company, we, at Oberoi Realty, have embraced GST with a positive and open mind and have already started passing on the benefits to our existing and new customers. We have always been ready and well-equipped to meet all regulatory changes and despite the external ripples, our projects have performed consistently well this quarter. With a robust pipeline and a sustained focus on customer-centricity, we aim to keep doing what we do best – continue to create value for all our stakeholders.”