From Mint: 2024-05-16 07:02:11

1. Oberoi Realty shares surged for the fourth day, closing at ₹1,711 with a new high of ₹1,727.95. Strong Q4 and FY24 performance drove investor confidence.
2. Q4FY24 revenue rose to ₹1,558.56 crore, and FY24 revenue reached ₹4,818.77 crore. Profits surged in Q4FY24 to ₹787.71 crore and in FY24 to ₹1,925.17 crore.
3. Bookings in FY24 totaled ₹39.4 billion, with a 22% YoY increase. Collections reached ₹10.8 billion, and net debt decreased to ₹12 billion.
4. Motilal Oswal projects a 41% CAGR in bookings from FY24 to FY26, estimating ₹79 billion. Completed projects could generate over ₹15 billion annually in surplus cash.
5. Brokerage values Oberoi Realty’s residential business at ₹360–370 billion. Analysts maintain a ‘Neutral’ to ‘Reduce’ rating with target prices ranging from ₹1,375 to ₹1,435.
6. Demand for residential properties in India is increasing, driven by economic growth and investments from HNIs and UHNIs.
7. Disclaimer: Views and recommendations are personal opinions. Investors should consult experts before making investment decisions.



Read more at Mint: Oberoi Realty stock gains for 4th day in a row, touches new all-time high – here’s why