India's Oberoi Realty posts Q3 profit jump on strong luxury home demand

Oberoi Realty

20/01/2025 12:10

Jan 20 (Reuters) - India's Oberoi Realty  OEBO.NS  reported a higher third-quarter profit
on Monday, driven by rising demand for luxury homes and office spaces.
    The real-estate developer's consolidated net profit jumped 72% to 6.18 billion rupees ($71
million) for the three months ended Dec. 31.
    Revenue from operations increased 34% to 14.11 billion rupees.
    For further results highlights, click  urn:newsml:reuters.com:*:nFWN3OG0GP.
    
    KEY CONTEXT
    India's real estate sector continued to witness firm demand for home ownership, with focus on
premium properties.
    With an increasingly affluent middle class in tier-1 cities looking to upgrade to more premium
offerings - from branded apparel to smartphones - demand for premium properties has also gained
momentum.  
    Moreover, a return-to-office push by companies has further boosted rental demand for
developers such as Oberoi Realty.
    
    PEER COMPARISON
    
                                            Estimates (next       Analysts' sentiment       
                                               12 months)                                   
                 RIC        PE     EV/EBIT  Revenue   Profit  Mean    # of      Stock to    Div
                                   DA       growth    growth  rating  analysts  price       yield
                                            (%)       (%)     *                 target**    (%)
 Oberoi Realty    OEBO.NS   24.85    18.67   25.16    25.75   Hold          22     0.96       0.40
 Sobha            SOBH.NS   25.49    14.54   22.78    119.58  Buy           13     0.66       0.23
 DLF              DLF.NS    43.53    53.61   20.47    21.46   Buy           17     0.78       0.67
 Brigade          BRIG.NS   35.40    17.42   16.96    32.62   Strong        10     0.79       0.18
 Enterprises                                                  Buy                           
 * The mean of analysts' ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong
Sell
** The ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the
stock is trading above the PT

    OCTOBER TO DECEMBER STOCK PERFORMANCE
-- All data from LSEG
-- $1 = 86.5060 Indian rupees  

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OCTOBER TO DECEMBER STOCK PERFORMANCE    https://tmsnrt.rs/4hmWoTL
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 (Reporting by Kashish Tandon in Bengaluru; Editing by Eileen Soreng)
 ((Kashish.Tandon@thomsonreuters.com; 8800437922;))