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Oberoi Realty Reports Dip In Net Profit By 82% To Rs 28 Crore

The Company has recorded Consolidated Revenue of Rs. 625.73 crore for Q4FY20 as against Rs. 597.34 crore for Q4FY19.

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Oberoi Realty Limited has announced its results for the first quarter of FY21 and for the fourth quarter FY20 & full year FY20. The Company has recorded Consolidated Revenue of Rs. 625.73 crore for Q4FY20 as against Rs. 597.34 crore for Q4FY19.

The Company also reported Consolidated Revenue of Rs. 2,285.98 crore for FY20 as against Rs. 2,661.35 crore for FY19. Further the Company also recorded Consolidated Revenue of Rs. 126.86 crore for Q1FY21. The Consolidated Profit Before Tax for Q4FY20 is Rs. 350.80 crore as against Rs. 220.12 crore for Q4FY19. The Consolidated Profit Before Tax for FY20 is Rs. 968.89 crore as against Rs. 1,177.62 crore for FY19. 

Further, the Consolidated Profit Before Tax for Q1FY 21 is Rs. 28.07 crore. The Consolidated Profit After Tax for Q4FY20 is Rs. 250.96 crore as against Rs. 155.76 crore for Q4FY19. The Consolidated Profit After Tax for FY20 is Rs. 689.33 crore as against Rs. 816.93 crore for FY19. Further the Consolidated Profit After Tax for Q1FY 21 is Rs. 39.78 crore. 

Commenting on the performance of the quarters, Vikas Oberoi, Chairman & Managing Director, Oberoi Realty Limited said, “The impact of Covid-19 has been unprecedented across the globe, however, the relaxations offered by RBI and the regulatory authorities have been valuable to both developers and homebuyers. We are also humbled to be a part of the on-ground effort to manage this crisis with the local bodies and doing our bit to contribute to the society. On our annuity portfolio we are delighted to announce that Oberoi Realty and Morgan Stanley have concluded the deal of leasing 1.1 mn sq. ft. at our Commerz-III building, making it one of the largest office space transactions. All our residential projects continue to receive enquiries from across the globe, highlighting the faith of our customers. Our offices and sites are open with necessary safety measures and we have also seen an increase in customer visits post relaxations in lockdown. Our focus is to continue to progress forward to achieve construction milestones and honour our committed timelines. We believe that the real estate sector will continue to undergo consolidation across all segments, hence only strong and reputed brands like us with a strong track record will be able to outperform”.


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