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Oberoi Realty Q3 net profit rises 7% at Rs 148 crore

Total income, however, fell to Rs 536.53 crore in the third quarter of 2019-20 from Rs 548.79 crore in the same period a year ago.

SNS Web | New Delhi |

Net profit of Oberoi Realty jumped 7 per cent to Rs 148.24 crore for the quarter ended December despite a fall in total income. Its net profit in the year-ago period stood at Rs 137.93 crore, company said in a regulatory filing.

Total income, however, fell to Rs 536.53 crore in the third quarter of 2019-20 from Rs 548.79 crore in the same period a year ago, the statement added.

“The Union Budget and the new RBI policy have paved the path to growth and liquidity. Reputed corporates thrive in challenging times due to their ability to adapt and deliver value to their stakeholders,” CMD Vikas Oberoi said.

“We have also seen a marked improvement in buyer interest across all our projects; our diversified businesses also continue to perform well,” he added.

Similar to the total income, company’s sales also witnessed a slip 0.23 per cent to Rs 527.43 crore in the quarter ended December 2019 as against Rs 528.62 crore during the previous quarter ended December 2018.

Mumbai-based Oberoi Realty is one of the leading real estate developers in the country.

(With input from agencies)