Oberoi Realty

The market was disappointed with the very flat Q2FY16 performance of Oberoi Realty. Net sales rose just 2% (YoY) at Rs.186 crore and net profit was at Rs.72 crore, up 3%.

The other internals of the performance – costs were up 9.5%. EBITDA for the quarter came in at Rs.105 crore, up 13% while margins were up from 50.54% to 55.85%. There was a three times surge in other income from Rs.4 crore to Rs.12 crore.

The good news in this realty company is that it is reducing debt. Debt (YoY) has come down from Rs.838 crore to Rs.576 crore, down 31% and cash balance has risen 75% to Rs.514 crore.

The aggregate area booked for Q2FY16 was 0.63 lakh sq.feet v/s 0.41 lakh sq.ft (YoY). The order book stands at Rs.2723 crore v/s Rs.1528 crore at end of H1FY15.