Dividend Paying Stock: Oberoi Realty Declares Interim Dividend; Check Record Date

During Friday's closing session, Oberoi Realty, a large-cap company, registered a market cap of Rs 39,963.52 Cr. Together with an interim dividend, the firm has released its quarterly results for the quarter that ended on September 30, 2023. The specifics are briefly discussed below.

Oberoi Realty Dividend

"In compliance with Regulation 30, Schedule III, and other the relevant provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform you that the Board of Directors of the Company at their meeting held on October 27, 2023 has declared interim dividend for FY23-24 at the rate of Rs. 2/- (Rupees Two only) per equity share i.e. 20% of the face value of equity shares of Rs. 10/- each. Further, November 8, 2023 is the record date for the purpose of payment of the said interim dividend, and the said interim dividend shall be paid starting from November 20, 2023," said Oberoi Realty in a stock exchange filing on Friday.

Oberoi Realty has announced an equity dividend of 40.00% at a face value of Rs 10 (or Rs 4 per share) for the financial year ended in March 2023. The dividend yield at the current share price of Rs 1099.00 is 0.36%. For the past five years, the firm has regularly distributed dividends and has a strong dividend track record. Since June 16, 2011, Oberoi Realty Ltd. has issued 12 dividends, according to Trendlyne statistics.

Oberoi Realty Results

For the September quarter of 2023-24, Oberoi Realty Ltd. reported a 43% rise in consolidated net profit, or Rs. 456.76 crore. Its net profit for the same quarter of the previous year was Rs 318.62 crore. The company stated in a regulatory statement on Friday that total income climbed to Rs 1,243.80 crore in Q2FY24 from Rs 711.79 crore in Q2FY23.

In comparison to Rs. 1,646.60 crores in H1FY23, the company's consolidated revenue for H1FY24 was Rs. 2,177.36 crores. Furthermore, compared to Rs. 933.56 crores for Q1FY24, the consolidated revenue for Q2FY24 was Rs. 1,243.80 crores. Compared to Rs. 722.01 crores in H1FY23, the consolidated profit after tax for H1FY24 was Rs. 777.45 crores. Additionally, compared to Rs. 321.36 crores for Q1FY24, the consolidated net profit for Q2FY24 reached Rs. 456.06 crores.

Mr. Vikas Oberoi, Chairman & Managing Director, Oberoi Realty, said, "India has sustained its growth momentum and emerged as the fastest growing major economy in this fiscal year. Despite the headwinds from renewed geo-political tensions and sluggish global demand, India's macroeconomic outlook is optimistic and firmly bolstered by strong domestic fundamentals."

"We believe the real estate market will continue its upward trajectory through consistently surging demand for established brands, spacious apartments and a desire for home ownership. We expect a strong demand in retail, driven by the festive season and increased consumer confidence. As one of India's largest real estate brands, we are excited about our much-awaited foray into Thane as we launch our first residential project that follows the tenets of New Urbanism and offers aesthetically designed homes and a positive lifestyle upgrade," he further added.

Oberoi Realty Share Price History

On Friday, the shares of Oberoi Realty closed on the BSE at Rs 1099.10 apiece up by 2.68% from the previous close of Rs 1070.45. The scrip reached a 52-week-high of Rs 1,206.00 on (11/09/2023) and a 52-week-low of Rs 790.05 on (27/01/2023).