The consolidated revenue for H1FY25 stood at ₹2,800.57 crores, up from ₹2,177.36 crores in H1FY24. Revenue for Q2FY25 also saw an increase, totaling ₹1,358.62 crores versus ₹1,243.80 crores in Q2FY24.

Profit Before Tax (PBT) for H1FY25 was reported at ₹1,557.50 crores, compared to ₹1,025.12 crores for H1FY24. The PBT for Q2FY25 reached ₹782.47 crores, up from ₹598.89 crores in the previous year. Profit After Tax (PAT) followed suit, with H1FY25 PAT at ₹1,173.71 crores, a rise from ₹777.45 crores in H1FY24, and Q2FY25 PAT at ₹589.31 crores compared to ₹456.06 crores in Q2FY24.

Mr. Vikas Oberoi, Chairman & Managing Director of Oberoi Realty, commented on the results, stating, “India’s economic growth story continues to captivate the world, and the real estate sector has been a key beneficiary of this positive momentum. We are pleased to report another strong quarter driven by healthy residential sales momentum and robust operating performance across our annuity assets.”

Highlighting recent developments, Oberoi Realty launched the first phase of ‘Jardin’ at its integrated development, Oberoi Garden City, Thane. This phase includes five residential towers, with bookings now open for two of them. The project aims to set a new benchmark in luxury living, featuring world-class amenities and facilities such as a 5-star JW Marriott Hotel and an Oberoi International School.

The company also received accolades, being recognized by BW Businessworld as one of India’s Top 3 Most Sustainable Companies in the real estate sector for 2024. Additionally, The Westin Mumbai Garden City won four awards at the IHC-IIHM International Hospitality Day Awards.

With a robust launch pipeline and a commitment to delivering exceptional living experiences, Oberoi Realty is well-positioned to capitalize on the growing demand for premium residential properties.

Also Read: Oberoi Realty Conferred as ‘ESG Champions of India 2024’ by Dun & Bradstreet

The post Oberoi Realty Reports Strong H1FY25 and Q2FY25 Results: Booking Value at ₹2,509.45 Crores; PBT Rises to ₹1,557.50 Crores appeared first on Square Feat India.

By Varun Singh

Godrej Properties Ltd. released its consolidated financials for Q1 FY21 Results. The company says that its total booking value for Q1 FY21 increased by 71% to Rs 1.531 crore.

The company says that by using digital sales tools they achieved strong sales thereby delivering highest ever market share in a quarter.

In Q1 FY20 the total booking value stood at Rs 897 crore. The booking volume for Q1 FY21 is 2.51 million sq. ft. It was 1.35 million sq. ft. in Q1 FY20.

Godrej even raised Rs 1,000 crore in July through the allotment of unsecured, redeemable, non-convertible debentures on a private placement basis for a term of 3 years at 7.5%, the lowest NCD rate achieved in the real estate industry.

The company even leased ~ 2 lakh sq. ft. of office space to A.P. Moller – Maersk’s business units at Godrej Two.

Construction activity has resumed on almost all the sites post the lockdown and the labor strength at the end of July was at approximately 60% of pre-COVID levels.

Commenting on the performance of Q1 FY2021, Pirojsha Godrej, Executive Chairman, Godrej Properties Limited, said, “With the lockdown in place for most of the quarter, construction activities during the period were extremely limited leading to almost no revenue recognition and to poor operating cash flows.  At the same time, our teams demonstrated agility by relying on digital sales tools to achieve strong sales thereby delivering our highest ever market share in a quarter.”

He further said, “While we expect poor reported earnings and cash flows this financial year due to the lockdown and the major impact this has had on our annual construction plan, we expect strong momentum in both portfolio project additions and new project launches during the rest of the financial year.  The current crisis will add further momentum to the process of consolidation that is underway in the sector and we will continue to focus on rapidly growing our market share.”

Financial Overview (Consolidated)

Q1 FY2021 performance overview compared with Q1 FY2020

·         Total Income stood at INR 165 crore as compared to INR 708 crore

·         EBITDA stood at INR 40 crore as compared to INR 195 crore

·         Net Profit stood at INR (20) crore as compared to INR 90 crore

·         EPS^# amounted to INR (0.80) as compared to INR 3.91

Also Read: Godrej leases office to Maersk for Rs 13.09 crore rent

The post Godrej via digital sales delivers highest ever market share in a quarter appeared first on Square Feat India.