Board Of Real Estate Stock To Meet For Results, Dividend; Should You Buy?

Board of directors of large cap realty sector stock Oberoi Realty Ltd will hold meeting today to consider and approve the unaudited financial results for the quarter ended September 30, 2023. The company will also consider declaration of interim dividend today for FY 2023-24 and declare the record date for the purpose of determining the eligibility of the members for receiving the said interim dividend (if declared by the Board of Directors). Current market price of Oberoi Realty share on BSE is Rs 1084.40 per share with intraday gain of 1.30%. Oberoi Realty shares fell 4.54% in last 1-month and offered return of 25% YTD. Check details below:

Oberoi Realty To Consider Financial Results, Interim Dividend: As per the BSE filing of the company dated October 23, "Board of Directors of the Company scheduled to be held on Friday, October 27, 2023, inter alia, to consider and approve the un-audited financial results of the Company for the quarter ended September 30, 2023. We now write to inform you that at the aforesaid meeting, the Board of Directors shall also consider:

(a) declaration of Interim Dividend for FY23-24 on the equity shares of the Company, and (b) deciding the record date for the purpose of determining the eligibility of the members for receiving the said interim dividend (if declared by the Board of Directors)."

Oberoi Realty Stock Outlook & Return: Current market price of Oberoi Realty share on BSE is Rs 1087.95 at 10: 46 am with intraday gain of 1.63%. Its 52-week high price is Rs 1206.00 per share and 52-week low price is Rs 790.05 per share, respectively. The company's market capitalisation is Rs 39,558.11 crore. Oberoi Realty shares surged 23% in last 1-year, gained 17% in last 2-years, and offered return of 146% in last 3-years.

Oberoi Realty Financials: The company for the quarter ended June 30, 2023 announced a fall of 20% in its consolidated net profit at Rs 321.64 crore amid increased expenses with stable revenue. It announced its net profit at Rs 403.08 core in the year ago period. The large cap company's total income witnessed marginal dip at Rs 933.56 crore during April-June quarter from Rs 934.81 crore an year ago.

Hem Securities Assigns Buy: Brokerage firm Hem has assigned buy call to Oberoi Realty with target price of Rs 1316 apiece. "We initiate BUY rating on stock and value the stock at 21.3x FY25 earnings to arrive at the target of Rs.1316," said the analyst.

About: Oberoi Realty Ltd is a large cap real estate developer that came into existence in 1998. It is engaged in the development of premium office, residential, commercial, hospitality, retail, and social infrastructure projects. Oberoi Realty provides project management services. Leading projects of the company include Oberoi Splendor, Prisma by Oberoi Realty, Oberoi Sky Heights, Esquire by Oberoi Realty, and Oberoi Seven, among others. is headquartered in Mumbai, Maharashtra, India.

Disclaimer

The stock has been picked from the brokerage report of Hem Securities. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.