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Follow on Google News | Oberoi Realty Announces Q2FY12and H1FY12 ResultsOberoi Realty Limited, a premium real estate company, headquartered in Mumbai today announced its results for the second quarter of FY12 and first half of FY12.
By: Sapana Yengul HIGHLIGHTS of Consolidated Financials for Q2FY12 and H1FY12 • Revenue for Q2FY12 at Rs. 256.88 croreand EBITDA at Rs. 149.82 crore; an EBITDA margin of ~58% for Q2FY12 • Profit Before Tax (PBT)for Q2FY12 at Rs. 143.17 croreand Profit After Tax (PAT) at Rs. 111.44crore • Revenue for H1FY12 at Rs. 471.95 croreand EBITDA at Rs. 294.32 crore; an EBITDA margin of ~62% for H1FY12 • Profit Before Tax (PBT)for H1FY12 at Rs. 280.53 croreand Profit After Tax (PAT) at Rs. 217.21crore Mumbai, October15, 2011: Oberoi Realty Limited, a premium real estate company, headquartered in Mumbai today announced its results for the second quarter of FY12 and first half of FY12. The Companyhas recorded Consolidated Revenue of Rs. 256.88crore for Q2FY12 as against Rs. 177.11crore for Q2FY11, a growth of ~45% and Rs. 471.95crore for H1FY12 as against Rs. 342.90crore for H1FY11, a growth of ~38% The Consolidated Profit BeforeTax for Q2FY12 was Rs.143.17croreas against Rs.101.66crore for Q2FY11, a growth of ~41%and for H1FY12 was Rs. 280.53crore as against Rs.187.48crore for H1FY11, a growth of ~50%. The Consolidated Profit After Tax for Q2FY12 was Rs. 111.44crore as against Rs. 95.51crorefor Q2FY11, a growth of ~17% and for H1FY12 was Rs. 217.21crore as against Rs.175.30crore for H1FY11, a growth of ~24%. Commenting on the results, Mr. Vikas Oberoi, Chairman &Managing Director, Oberoi Realty Limited said,“The Company has witnessed consistent momentum in sales in the past six months despite the tough market conditions. We appreciate the transparency in the approval process being brought in by the authorities and strongly believe that this is in the long term interest for the sector, besides creating a level playing field for all the developers and stake holders. Going forward, we expect the momentum to continue and grow. We are confident that with cash on hand, we will continue to be well placed to acquire more land parcels.” BUSINESS HIGHLIGHTS Investment Properties (Retail, Office Space and Hospitality) • Oberoi Mall contributed Rs. 19.77 crore to the operating revenue for the Q2FY12 as against Rs. 15.21 crore in Q2FY11, a growth of ~30% and Rs. 38.89 crore for the H1FY12 as against Rs. 30.26 crore in H1FY11, a growth of ~29%. • Commerzcontributed Rs. 10.91crore to the operating revenue for the Q2FY12 as against Rs. 11.28 crore in Q2FY11, a marginal decline of ~3% and Rs. 21.79 crore for the H1FY12 as against Rs. 22.60 crore in H1FY11, a marginal decline of ~4%. • The Westin Mumbai Garden City contributed Rs. 19.05crore to the operating revenue for the Q2FY12as against Rs. 13.80 crore in Q2FY11, a growth of ~38% and Rs. 39.88 crore for the H1FY12 as against Rs. 20.72 crore in H1FY11, a growth of ~92%. Development Properties (Residential) • Oberoi Esquire: The Companyhas sold ~5.67 lakhsqft. till date which comprises ~29% of the project. The total sales value till date is Rs. 664.87 crore; but there has been no revenue recognition as it is yet to reach the threshold construction completion. • Oberoi Exquisite: The Companyhas sold ~7.92 lakhsqft. till date which comprises ~53% of the project and recognized revenue of Rs. 66.42crorefor Q2FY12 and Rs. 112.05 crore for H1FY12. • Oberoi Splendor Grande: The Companyhas sold ~1.40 lakhsqft. till date which comprises ~49% of the project and recognized revenue of Rs. 31.04crorefor Q2FY12 and Rs.52.53crore for H1FY12. • Oberoi Splendor: The Company hassold 11.95 lakhsqft.till date which comprises ~93% of the project and recognized revenue of Rs. 58.13crore for Q2FY12 and Rs. 92.34 crore for H1FY12. • Oasis Realty: Construction activity is currently going as planned; the construction contract has been awarded to Samsung C&T. AWARDS & RECOGNITION: • Oberoi Realty was awarded as India’s Top 10 Builder’s by Construction World Architect and Builder Awards 2011 held in August 2011 • Oberoi Commerz got the runner’s up award as the best commercial property by Construction Week India Awards 2011 held in August 2011 About Oberoi Realty Limited 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. Oberoi Realty has an established brand and a track record in the real estate industry of developing innovative projects through its emphasis on contemporary architecture, strong project execution and quality construction. Oberoi Realty seeks to create “destination developments” Forward Looking Statement Certain statements in this document may be forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties like regulatory changes, local political or economic developments, technological risks, and many other factors that could cause our actual results to differ materially from those contemplated by the relevant forward looking statements. Oberoi Realty Limited will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances. For further details, please contact: Gaurav Gupta Corporate Communications Oberoi Realty Ltd. gaurav.gupta@ Cell:+919833379952 Concept PR sapana@conceptpr.com End
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