Shares in Oberoi Realty surged to a hit 52-week high on Monday after the company reported a good set of numbers for the first quarter ending June 30, 2016.
Oberoi Realty reported 32.89 per cent rise in consolidated net profit at Rs 108.88 crore for the quarter ended June 30, 2016 against Rs 81.93 crore in the corresponding quarter a year ago.
The Company has reported a revenue of Rs 330 crores for this quarter as against Rs 219 crore for last year's first quarter.
The company's order book stood at Rs 3,993 crore as against Rs 2,705 crore at the end of Q1FY16.
Commenting on the results, Vikas Oberoi, Chairman & Managing Director, Oberoi Realty said that major policy and process changes along with the government's Ease-of-Doing-Business initiative and focus on fast-tracking of the approval process, have brought in fresh optimism to the markets and have been major enablers for the realty sector.
Oberoi Realty Ltd. is India's leading real estate development company, headquartered in Mumbai, focused on premium developments in the residential, office space, retail, hospitality and social infrastructure verticals.
Shares of Oberoi Realty were seen trading at Rs 314, higher by 5.64 per cent on BSE at 2.16 pm IST. It touched an intra-day high of Rs 322.40 during trade.