Oberoi Realty-A simple real estate story


(AM648) #44

I believe sales are expected to pick up at a brisk pace in Oberoi once OC comes. Further, apartments at higher floors are much easier to sell. The Ritz carlton tower where apartments go at 120 cr a pop (last deal of Nirav Bajaj) are likely to take a lot longer. In general though, I believe as compared to all other inventory in that area, Oberoi’s inventory is likely to sell out before the others.

The good thing is that no new projects of similar ticket size is being launched in the area. Even existing players are converting to commercial.

On the same note, after speaking to a few brokers in the area, I was informed that Omkar’s towers which are right next door have almost 60-70 apartments unsold even though OC has been received which makes me question my own GST/OC hypothesis.


(Atom) #45

As on 31-3-2018 the Investment in Non Current unquoted Investment is Rs.2406.55 cr. Out of this
Rs.1906.35 cr is invested in one Oasis Realty and no further details are given. This being a huge amount it is definitely a Red flag.


(ajay81) #46

to the best of my knolwledge Oasis Realty is the worli residential project that is in JV with oberoi responsible for bringing all the funding and will take back also first its investments. They have mentioned a few times in the concall.


(saumya) #48

(saumya) #49

(RadheyShyam Aggarwal) #50

FY 19 Q3 Results

Revenues up 48.4% at Rs 528.6 cr vs Rs 356.2 cr
Net profit up 14.7% at Rs 137.9 cr vs Rs 120.2 cr
EBITDA down 2.3% at Rs 188.1 cr vs Rs 192.6 cr
Margins at 35.6% vs 54.1 %
Operating Costs up 26% at Rs 353.7cr

Any reasons for margins being down ? Affordable housing entry?


(smehta) #51

Oberoi Realty Ltd

Highlights of Q3FY19 and Nine Month FY19 Results

Financials

  • Q3FY19
    • Revenue stood at 548 Cr compare to 619 Cr Q2FY19 and 360 Cr for Q3FY18
    • PBT stood at 195 Cr compare to 307 Cr for Q2FY19 and 183 Cr for Q3FY18.
    • PAT stood at 137 Cr compare to 213 Cr for Q2FY19 and 120 Cr for Q3FY18.
    • EBITDA margin for Q3FY19 was 42 % for the quarter.
    • PAT margins were 25 % for the quarter.

Key Highlights

  • Commenced bookings for the fifth tower at Sky City, Borivali
  • Crossed 1,000 units of bookings in Sky City
  • Investment properties continues steady and strong performance.
    • Oberoi mall contributed 38 Cr to the operating revenue against 37 Cr for Q2FY19 and 27 Cr for Q3FY18. EBITDA margin in this project is excess of 95 %.
    • In commerz company office space asset contributed Rs 10 Cr to the operating revenue for the quarter compare to 10 Cr for Q2FY19 and 11 Cr for Q3FY19. EBITDA margin in this project was in excess of 95%.
    • In commerz phase-1 contributed about 22 Cr for the quarter compare to 18 Cr in Q2 FY19 and 11 Cr for Q3FY18.
    • Western Mumbai contributed about 36 Cr of the operating revenue for this quarter compare to 36 Cr for Q2FY19 and 35 Cr for Q3FY18. EBITDA margin in this project continuous in excess of 33 %.
  • Development Properties
    • For Aspire which is project of 21.21 lakh sqft in that company have booked nearly 30,000 Sqft in the quarter till date about 15.45 lakh sqft which is about 72 % of the inventory. Total booking value for the quarter is Rs 66 Cr compare to 110 Cr in Q2FY19 and 48 Cr for Q3FY18. Cumulative booking date till date is about 2456 Cr and total revenue recognize in this project was 66 Cr and cumulative revenue recognition till date is 2456 Cr on account of 100 % of project completion.
    • For Exquisite which total size is 15.47 lakh sq ft out of which company have booked 14.2 lakh sqft which is 90 % of the project. Total booking value in this quarter was Rs 4 Cr compare to 39 Cr in Q2FY19 and 41 Cr for Q3FY18 and cumulative booking value till date is about 2351 Cr. Total revenue recognize for this project is 4 Cr and cumulative revenue recognition till date stands at 2351 Cr on account of 100 % of project completion.
    • For Prisma which total size is 2.68 lakh sq ft till date company have booked 2.31 lakh sqft which is about 86 % of inventory in this project. Cumulative booking value till date is 407 Cr and cumulative revenue recognition till date is also 407 Cr on account of 100 % project completion.
    • For Eternia which is 21.48 lakh sqft project in which company booked about 22,000 sq ft in quarter and till date booked about 5.86 lakh sq ft. Total booking vale for the quarter was 32 Cr compare to 34 Cr last quarter and 10 Cr for same quarter last year and cumulative booking value till date is about 856 Cr. Total revenue recognize in this project is 57 Cr and cumulative recognition till date is about 292 Cr.
    • For Enigma this quarter company book about 28000 sq ft and 3.96 lakh sqft till date. Total booking value for the project was 36 Cr as against 27 Cr on Q2FY19 and cumulative booking value till date is about 584 Cr. Total revenue recognize for this project is 18 Cr and cumulative revenue recognition till date is about 104 Cr.
    • For Skycity company booked over 75,000 sq ft in this quarter and till date about 15.47 lakh sqft. Total booking value for this quarter was 119 Cr compare to 130 Cr for Q2FY19 and 76 Cr for Q3FY18 and till date the booking value is about 2476 Cr. Total revenue recognize for this project is 246 Cr and cumulative revenue recognition till date is about 988 Cr.
    • For OSS 360 west booking value is 2235 Cr till date .