OBEROI REALTY ANNOUNCES Q4 FY17 and FY17 RESULTS
Author(s): City Air NewsMumbai, May 4, 2017: Oberoi Realty Limited, headquartered in Mumbai, today announced its results for the fourth quarter of FY17 and full year FY17. The Company has recorded Consolidated Revenue of Rs. 302.03 crore...
cityairnews
May 4, 2017 12:30
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Mumbai, May 4, 2017: Oberoi Realty Limited, headquartered in Mumbai, today announced its results for the fourth quarter of FY17 and full year FY17.
The Company has recorded Consolidated Revenue of Rs. 302.03 crore for Q4FY17 as against Rs. 242.15 crore for Q4FY16. The Consolidated Revenue is Rs. 1,161.04 crore for FY17 as against Rs. 1,458.92 crore for FY16.
The Consolidated Profit Before Tax for Q4FY17 is Rs. 150.24 crore as against Rs. 104.83 crore for Q4FY16. The Consolidated Profit Before Tax for FY17 is Rs. 562.30 crore as against Rs. 663.24 crore for FY16.
The Consolidated Profit After Tax for Q4FY17 is Rs. 101.82 crore as against Rs. 67.75 crore for Q4FY16. The Consolidated Profit After Tax for FY17 is Rs. 378.59 crore as against Rs. 435.56 crore for FY16.
The order book stands at Rs. 5,037.45 crore at the end of FY17 as against Rs. 4,247.69 crore at the end of FY16.
Commenting on the results, Mr. Vikas Oberoi, Chairman & Managing Director, Oberoi Realty Limited said, “The last year has been very dynamic, with a lot of significant policy changes for the real estate sector as well as the domestic economy. Key initiatives like the passing of the Real Estate Regulatory Act, clarity in REIT legislation and the GST roll out will eventually boost market sentiments and buoy the economy. Moreover, growth-centric initiatives of the state government and its sustained focus on key infrastructure projects in Mumbai will not only improve the quality of life for every Mumbaikar but will also have a favorable impact on the long-term health of the real estate sector in the state. The implementation of RERA will boost sentiments, encourage customer confidence and create a level playing field for credible players in the realty market, leading to a win-win scenario for all.
At Oberoi Realty, in the last year we have seen a steady growth in volume and we are beginning to see an increase in demand across segments. In the coming year, we intend to expand our retail portfolio and continue our emphasis on execution and project delivery. With a single-minded focus on customer-centricity, we aim to keep doing what we do best – continue to create sustainable value for all our stakeholders. “
