Real Estate Giant Declares Rs 2/Sh Dividend, 28% Surge In Q2 Net Profit; Analyst Has Buy

Large cap company Oberoi Realty shares today jumped 1.44% after the company declared 2nd interim dividend and a jump in its net profit for Q2. Last trading price of Oberoi Realty Ltd shares on BSE today is Rs 1931.00 per share. Oberoi Realty today declared a surge of 28% (YoY) in its net profit to Rs 589.4 crore for the quarter ended September 30, 2024 as against Rs 456.8 crore declared in the corresponding quarter of last year, as per the exchange filing. It announced its revenue from operations at Rs 1320 crore for September 2024 quarter, up 8.4% as against Rs 1217.4 crore announced in the similar quarter of last fiscal.

Oberoi Realty Declares Financial Results: The company at the operating level announced its EBITDA at Rs 813.8 crore for the quarter under review from Rs Rs 638.2 crore in the similar quarter of last year. Meanwhile, EBITDA margin stood at 61.7% for the quarter under consideration as compared to 52.4% in the same period of previous fiscal.

Oberoi Realty Dividend: As per the exchange filing of the company issued as on October 18, 2024, "this is to inform you that the Board of Directors of the Company at their meeting held on October 18, 2024 has declared 2 nd interim dividend for FY24-25 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 4, 2024 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 14, 2024.

Oberoi Realty Shares Performance: The 52-week high price of Oberoi Realty shares on BSE is Rs 2067.65 per share (as on 17/10/2024) and 52-week low price is Rs 1051.25 per share (as on 26/10/2023), respectively. Oberoi Realty shares gained 33% in 2024, soared 72% in last 1-year, and offered 123% returns in last 2-years.

Hem Securities Recommends Buy: The brokerage firm September 30, 2024 report recommended buy call with target price of Rs 2197 per share. The analyst said, "with a robust near term launch pipeline across, the sales run rate is expected to remain strong over the next three- to-four years. The company remains on track for a healthy launch pipeline going forward and company remains hopeful of closing a few land deals in the near future, which is expected to drive up pre-sales growth."

We initiate BUY rating on stock and value the stock at 32.5x FY26 earnings to arrive at the target of Rs.2197.

Oberoi Realty About: Oberoi Realty Ltd is a Mumbai based Real Estate Development firm. It focuses on premium developments in residential, office space, retail, hospitality, and social infrastructure projects, among others. Oberoi Realty emerged as an established brand in real estate space. It seeks to build aspirational developments for its customers with distinctive designs functional aesthetics and quality finishes that translate into landmark projects through its mixed-use and single-segment developments.

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