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Business EconomyPosted at: Apr 25 2018 3:45PM


Oberoi Realty Q4 net surges 40.37 percent

Mumbai, Apr 25 (UNI) Realty major, Oberoi Realty has reported a rise of 40.37 percent in its consolidated net profit at Rs 142.92 crore for the quarter ended March compared with net profit of Rs 101.82 crore in the year-ago period.
Total income for the quarter under review rose 16.71 percent to Rs 352.84 crore in compared with Rs 302.33 crore in the corresponding period of the previous year.
For the year ended March the net profit rose by 21.19 percent to Rs 458.80 crore from 378.59 crore in the previous fiscal.
Its total income for the year ended March 31, 2018 was at Rs 1,292.01 crore, up 11.25 percent as against Rs 1,161.34 crore in the previous fiscal.
Vikas Oberoi, Chairman & Managing Director, Oberoi Realty, said, ''FY 2017-18 was a year of consolidation for the Indian economy, with many key reforms being successfully implemented. In Maharashtra, the state government, in addition to being at the forefront of RERA adoption, has retained its focus on key infrastructure and connectivity projects, especially in Mumbai. At Oberoi Realty we have always welcomed and embraced policy reforms positively and are poised to capitalise on these changes as well.
The real estate sector has gone through a very disruptive period during the last few years and only those who are agile and can adapt to the market sentiments will be able to thrive.
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