Oberoi Realty zooms in flat markets

While the Sensex on Aug 22 opened at 28088 almost flat from the previous close, Oberoi Reality has seen an upward trend. The realty stock on Aug 22, opened at Rs 312, up by almost 5 per cent. While major stocks just managed to remain in green, Oberoi Realty has emerged as the D- stock of Aug 22 trade.

Shares in the last 3 months, have given a return of 18 per cent. 52-week High/Low stands at Rs 322.40/209.05.
On Aug 19, post market hours, company has declared its Q1FY17 results and good numbers are the only reason for such a uptick in the scrip of the company.

The company’s revenue has increased by 49.82 per cent to Rs 253 crore in Q1FY17 as compared to same period in previous fiscal. Its EBITDA too has risen by 31.29 per cent to Rs 136 crore in Q1FY17 on a yearly basis. Oberoi Realty’s consolidated net profit has increased by 33 per cent to Rs 108.88 crore in Q1FY17.
On the other hand, Realty index is marginally up with stocks like Phoenix, NBCC, Godrej Properties, Sobha, Prestige being in green as at 9.56 am.  

Oberoi Realty is engaged in real estate development. The company is focused on developments in the residential, office space, retail, hospitality and social infrastructure verticals. It operates in two segments viz. real estate and hospitality. Oberoi Realty has developed over 36 projects. Its projects include Oberoi Exquisite and Esquire.