Key Financials Snapshot

TTM · Consolidated · ₹ in Cr
Market Cap
₹63798 Cr.
Stock P/E
25.4
P/B
3.5
Current Price
₹1754.6
Book Value
₹ 507.7
Face Value
10
52W High
₹1985
52W Low
₹ 1390.2
Dividend Yield
0.46%

Oberoi Realty Overview

Business

Oberoi Realty Ltd. is a leading real estate developer based in India, primarily focused on the Mumbai Metropolitan Region (MMR). The company is involved in the development of various property types including premium residential apartments, commercial spaces (offices), retail destinations (malls), and hospitality projects (hotels). Its core business model involves acquiring land, designing and developing integrated master-planned communities or standalone projects, and then selling residential units or leasing out commercial and retail spaces. It makes money primarily through the outright sale of residential properties, followed by rental income from its commercial, retail, and hospitality assets.

Revenue Mix

Oberoi Realty operates primarily across three main segments:

Residential Development: This is the largest revenue contributor, involving the construction and sale of high-end and luxury apartments.

Commercial Development & Leasing: This includes Grade A office spaces and retail malls (e.g., Oberoi Mall), generating significant rental income.

Hospitality: The company owns and operates luxury hotels (e.g., The Westin Mumbai Garden City), contributing to rental/service income.

While specific percentage breakdowns can vary annually, residential sales typically constitute the majority of the company's revenue, followed by stable rental income from its commercial and retail assets.

Industry

The Indian real estate sector, particularly in major urban centers like Mumbai, is highly fragmented but is experiencing a shift towards consolidation, favoring large, well-capitalized, and reputed developers. The industry is cyclical, capital-intensive, and heavily influenced by economic growth, interest rates, and regulatory policies.

Oberoi Realty is positioned as a premium developer with a strong brand image, known for its focus on quality, design, and timely delivery of projects, particularly in the luxury and semi-luxury segments. It commands a strong presence in Mumbai and competes with other organized and established players such as Macrotech Developers (Lodha), Godrej Properties, and Kalpataru.

MOAT

Brand Reputation: Strong brand equity built on a track record of quality construction, premium designs, and timely project delivery, enabling premium pricing.

Strategic Land Bank: Ownership of large, strategically located land parcels within the land-scarce Mumbai Metropolitan Region, providing a significant competitive edge and future development pipeline.

Integrated Business Model: Control over the entire development cycle, from land acquisition, design, construction, marketing, and sales to property management.

Financial Prudence: Historically maintained a relatively conservative debt profile compared to some peers, providing financial flexibility and resilience.

Execution Capabilities: Proven ability to execute and deliver large-scale, complex, and integrated developments.

Growth Drivers

Urbanization & Affluence: Continued migration to Mumbai and rising disposable incomes are driving demand for quality housing and commercial spaces.

MMR Infrastructure Development: Ongoing large-scale infrastructure projects (e.g., Mumbai Coastal Road, Trans-Harbour Sea Link, Metro Network) are improving connectivity and unlocking new growth corridors.

Favorable Policy Environment: Government focus on affordable housing, ease of doing business, and infrastructure spending indirectly supports the real estate sector.

Commercial & Retail Demand: Growing demand for Grade A office spaces driven by corporate expansion and increasing organized retail penetration.

Project Pipeline Execution: Launch and monetization of projects from its substantial land bank in prime locations.

Risks

Real Estate Cyclicality: High sensitivity to economic downturns, interest rate hikes, and changes in consumer sentiment.

Regulatory & Approval Delays: Protracted processes for obtaining multiple government approvals can lead to project delays and cost overruns.

Input Cost Volatility: Fluctuations in the prices of raw materials (cement, steel) and labor can impact project profitability.

Geographical Concentration: High dependence on the Mumbai Metropolitan Region market exposes the company to local economic and regulatory risks.

High Capital Intensity: Real estate development requires significant upfront capital, making the company susceptible to funding costs and availability.

Competition: Intense competition from other established developers and new entrants can impact pricing power and market share.

Management & Ownership

Oberoi Realty is promoted and led by Vikas Oberoi, who serves as the Chairman and Managing Director. The Oberoi family, as the promoter group, holds a substantial majority stake in the company. Management is generally perceived to be strong, focusing on quality development, prudent financial management, and a long-term vision. The significant promoter holding ensures strong alignment between management interests and shareholder value creation.

Outlook

Oberoi Realty is well-positioned in the premium segment of the high-value Mumbai real estate market, benefiting from its strong brand, robust land bank, and proven execution capabilities. The improving demand dynamics in MMR, coupled with ongoing infrastructure development, provide a favorable backdrop for its residential and commercial projects. Its conservative financial approach also offers resilience in a capital-intensive industry. However, the cyclical nature of the real estate sector remains a key risk. Potential headwinds include significant interest rate increases, unforeseen regulatory changes, or a broader economic slowdown that could impact sales velocity and profitability. Its concentration in Mumbai, while a strength, also exposes it to local market-specific risks.

Oberoi Realty Share Price

Live · BSE / NSE · Inception: 1998
₹ | |
Volume
Price

Key Financials — Profit & Loss

₹ in Cr · Consolidated · annual

Oberoi Realty Quarterly Results

#(Fig in Cr.) Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026
Net Sales 1315 1405 1320 1411 1150 988 1779 1493 1750 1301
Other Income 244 37 39 49 63 86 66 69 74 61
Total Income 1559 1442 1359 1460 1213 1074 1845 1562 1824 1362
Total Expenditure 526 590 506 555 532 467 759 635 790 567
Operating Profit 1032 852 853 905 681 607 1086 926 1034 795
Interest 50 59 52 75 80 75 71 67 27 52
Depreciation 14 20 21 23 24 32 33 33 33 35
Exceptional Income / Expenses 0 0 0 0 0 0 0 -23 0 0
Profit Before Tax 968 773 780 808 577 500 981 803 974 708
Provision for Tax 183 191 193 192 144 86 233 190 260 168
Profit After Tax 785 582 587 616 433 414 749 613 714 539
Adjustments 3 2 2 3 0 7 12 9 -11 4
Profit After Adjustments 788 585 589 618 433 421 760 623 703 544
Adjusted Earnings Per Share 21.7 16.1 16.2 17 11.9 11.6 20.9 17.1 19.3 14.9

Oberoi Realty Profit & Loss

#(Fig in Cr.) Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 TTM
Net Sales 1416 1114 1265 2582 2238 2053 2694 4193 4496 5286 6009 6323
Other Income 76 58 27 79 48 38 58 101 323 188 295 270
Total Income 1492 1171 1292 2661 2286 2091 2752 4293 4819 5474 6304 6593
Total Expenditure 773 554 590 1427 1190 1052 1513 2081 2086 2183 2651 2751
Operating Profit 719 617 702 1234 1096 1038 1240 2212 2733 3291 3653 3841
Interest 7 6 7 19 88 76 86 169 218 265 241 217
Depreciation 49 49 49 44 45 41 40 40 48 88 131 134
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0 -23 -23
Profit Before Tax 663 565 650 1178 963 924 1354 2224 2476 2945 3276 3466
Provision for Tax 229 187 191 361 280 185 306 319 549 719 768 851
Profit After Tax 434 379 459 817 683 739 1047 1905 1927 2226 2507 2615
Adjustments 2 0 0 0 6 0 0 0 0 0 0 14
Profit After Adjustments 436 379 459 817 689 739 1047 1905 1927 2226 2507 2630
Adjusted Earnings Per Share 12.8 11.2 13.5 22.5 19 20.3 28.8 52.4 53 61.2 69 72.2

Oberoi Realty Balance Sheet

#(Fig in Cr.) Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Shareholder's Funds 5341 5726 6092 8029 8629 9369 10416 12210 13844 15705 17922
Minority's Interest 0 0 0 0 0 0 0 0 0 0 0
Borrowings 349 749 679 589 0 359 2165 2881 2192 2895 2364
Other Non-Current Liabilities -48 -20 7 70 116 154 238 54 151 499 575
Total Current Liabilities 1738 1904 3301 2306 2383 2084 2844 3288 3273 3507 4323
Total Liabilities 7381 8360 10079 10994 11128 11966 15663 18433 19461 22606 25183
Fixed Assets 247 230 209 197 1046 209 200 197 219 245 268
Other Non-Current Assets 2296 2576 3437 3811 3236 4992 6555 5779 6495 7145 7666
Total Current Assets 4838 5554 6433 6986 6846 6765 8909 12456 12746 15217 17250
Total Assets 7381 8360 10079 10994 11128 11966 15663 18433 19461 22606 25183

Oberoi Realty Cash Flow

#(Fig in Cr.) Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Opening Cash & Cash Equivalents 158 286 236 93 431 198 187 124 159 297 268
Cash Flow from Operating Activities 453 174 -202 146 -282 696 1069 -2383 2816 2163 1380
Cash Flow from Investing Activities -121 -559 -592 -646 358 -591 -1390 1739 -644 -2392 -463
Cash Flow from Financing Activities -204 335 651 839 -309 -116 1142 709 -2034 200 -1009
Net Cash Inflow / Outflow 128 -50 -143 339 -233 -11 821 64 138 -29 -92
Closing Cash & Cash Equivalent 286 236 93 431 198 187 1008 188 297 268 176

Oberoi Realty Ratios

# Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Earnings Per Share (Rs) 12.84 11.15 13.51 22.47 18.96 20.33 28.8 52.38 52.99 61.21 68.96
CEPS(Rs) 14.23 12.61 14.95 23.68 20.03 21.47 29.89 53.47 54.29 63.64 72.56
DPS(Rs) 2 2 2 2 0 0 3 4 8 8 8
Book NAV/Share(Rs) 157.41 168.64 179.4 220.82 237.33 257.68 286.47 335.81 380.76 431.92 492.89
Core EBITDA Margin(%) 45.39 50.24 53.36 44.74 46.83 48.74 43.85 50.37 53.6 58.7 55.88
EBIT Margin(%) 47.32 51.27 51.87 46.35 46.99 48.74 53.44 57.08 59.93 60.73 58.52
Pre Tax Margin(%) 46.83 50.77 51.33 45.6 43.04 45.04 50.24 53.04 55.07 55.71 54.51
PAT Margin (%) 30.64 33.99 36.26 31.63 30.54 36.02 38.87 45.43 42.85 42.1 41.73
Cash Profit Margin (%) 34.1 38.44 40.13 33.34 32.55 38.02 40.34 46.37 43.91 43.77 43.9
ROA(%) 5.99 4.81 4.98 7.75 6.18 6.4 7.58 11.17 10.17 10.58 10.49
ROE(%) 8.7 6.84 7.76 11.57 8.21 8.21 10.58 16.83 14.79 15.06 14.91
ROCE(%) 11.81 9.2 9.13 13.76 10.64 9.51 11.91 16.26 16.58 18.16 17.69
Receivable days 25.14 35.73 41.38 20.53 18.32 21.63 17.11 53.23 52.87 10.94 13.26
Inventory Days 879.03 1164.34 1155.65 594.47 773.41 887.34 657.03 591.09 722.74 645.85 596.17
Payable days 809.15 -51.6 -71.19 -491.38 -827.67 154.65 203.39 579.27 205.57 512.72 924.21
PER(x) 18.83 32.99 37.64 23.47 17.63 28.3 32.62 16.09 27.81 26.73 20.55
Price/Book(x) 1.54 2.18 2.83 2.39 1.41 2.23 3.28 2.51 3.87 3.79 2.88
Dividend Yield(%) 0.83 0.54 0.39 0.38 0 0 0.32 0.47 0.54 0.49 0.56
EV/Net Sales(x) 5.91 11.69 14.89 7.87 6.06 10.88 13.63 8.13 12.3 11.69 8.76
EV/Core EBITDA(x) 11.63 21.08 26.85 16.48 12.37 21.5 29.61 15.41 20.24 18.77 14.41
Net Sales Growth(%) 53.47 -21.36 13.63 104.09 -13.35 -8.27 31.25 55.63 7.23 17.58 13.67
EBIT Growth(%) 36.48 -14.78 14.95 83.37 -11.65 -4.85 43.89 66.22 12.59 19.15 9.54
PAT Growth(%) 36.84 -12.76 21.19 79.47 -15.63 8.18 41.64 81.89 1.16 15.51 12.67
EPS Growth(%) 32.87 -13.14 21.16 66.3 -15.62 7.25 41.64 81.89 1.16 15.51 12.67
Debt/Equity(x) 0.09 0.15 0.28 0.2 0.18 0.16 0.27 0.32 0.18 0.21 0.16
Current Ratio(x) 2.78 2.92 1.95 3.03 2.87 3.25 3.13 3.79 3.89 4.34 3.99
Quick Ratio(x) 0.86 0.94 0.66 1.22 0.64 1.01 1.36 1.19 1.06 1.65 1.63
Interest Cover(x) 98.07 102.47 95.62 61.82 11.88 13.16 16.73 14.15 12.33 12.1 14.61
Total Debt/Mcap(x) 0.06 0.07 0.1 0.08 0.12 0.07 0.08 0.13 0.05 0.06 0.05

Growth Rates

Compounded annual
# 1 Year 3 Year 5 Year 10 Year
Sales CAGR +14% +13% +24% +16%
Operating Profit CAGR +11% +18% +29% +18%
PAT CAGR +13% +10% +28% +19%
Share Price CAGR +10% +15% +14% +20%
ROE Average +15% +15% +14% +11%
ROCE Average +18% +17% +16% +13%

Oberoi Realty Shareholding Pattern

Latest · Jun 2026
100% held
Promoters 67.7 %
FII 15.11 %
DII (MF + Insurance) 14.83 %
Public (retail) 2.36 %
# Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026
Promoter 67.767.767.767.767.767.767.767.767.767.7
FII 16.9618.0518.420.2419.9719.3616.0616.5815.4215.11
DII 12.8412.2911.9610.0610.210.813.8513.4614.5814.83
Public 2.491.951.9422.132.142.392.252.292.36
Others 0000000000
Total 100100100100100100100100100100

Oberoi Realty Peer Comparison

Construction - Real Estate Edit Columns

Oberoi Realty Quarterly Price

10-year quarterly close · BSE
Show Value Show %

News & Updates

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Oberoi Realty Pros & Cons

Pros

  • Company has delivered good profit growth of 27% CAGR over last 5 years
  • Company has reduced debt.
  • Company is almost debt free.

Cons

  • Debtor days have increased from 512.72 to 924.21days.
  • Stock is trading at 3.5 times its book value.
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