$OBEROIRLTY

Oberoi Realty shares slipped 0.91% to Rs 1,877.60 on Monday after the company reported Q1 FY27 earnings that fell short of Street expectations. The company announced its Q1 FY27 results on July 17, posting a 32% year-on-year increase in revenue, a 41% rise in EBITDA, and a 29% growth in net profit, supported by a low base. Despite the strong annual growth, the quarterly performance missed consensus estimates due to the absence of revenue recognition from the 360 West project and slower sequential revenue recognition from projects such as Sky City, Eternia, and Elysian. Following the results, Pre-sales for the quarter came in at Rs 1,050 crore, broadly in line with estimate of Rs 1,100 crore. However, pre-sales declined 36% year-on-year due to a high base in the corresponding quarter last year, when the company had launched a new tower in the Elysian project. During the quarter, Oberoi Realty also sold two units in its newly launched ultra-luxury Oceanic project on Carter Road at Rs 1.6 lakh per sq ft (carpet area). No sales were recorded at the Fairview project in Malabar Hill. The hospitality business also delivered a healthy performance, with revenue and EBITDA increasing 10% and 12% year-on-year, respectively. The growth was driven by an 8% rise in RevPAR, supported by a 3% increase in average daily room rates (ADR) and improved occupancy levels.