Mumbai-based leading real estate company, Oberoi Realty recently reported a 17% increase in its consolidated net profit to Rs 111.44 crore for the quarter ended September 30, 2011. The reason for increase is on the back of higher sales. The company had posted a net profit of Rs 95.51 crore for the year-ago period.
According to company's statement, The firm registered 45% growth in consolidated revenue to Rs 257 crore in the second quarter this financial year, as against Rs 177.11 crore in the corresponding period of the financial year 2010-11,
Mr. Oberoi Realty, CMD (Chairman and Managing Director) Vikas Oberoi said: “ Our company has witnessed consistent momentum in sales in the past 6 months despite the tough market conditions. Going forward, we expect the momentum to continue and grow. The company is sitting on surplus cash, which will be utilised to buy land.
We are confident that with cash on hand, we will continue to be well-placed to acquire more land parcels.
For the half year ended September 30, the Oberoi Realty's consolidated net profit increased by 24% to Rs 217 crore from Rs 175 crore in the year ago period.
Its consolidated revenue grew by 38% to Rs 472 crore in the first half of this financial year from Rs 343 crore in the corresponding period of the financial year 2010-11.
According to company's statement, The firm registered 45% growth in consolidated revenue to Rs 257 crore in the second quarter this financial year, as against Rs 177.11 crore in the corresponding period of the financial year 2010-11,
Mr. Oberoi Realty, CMD (Chairman and Managing Director) Vikas Oberoi said: “ Our company has witnessed consistent momentum in sales in the past 6 months despite the tough market conditions. Going forward, we expect the momentum to continue and grow. The company is sitting on surplus cash, which will be utilised to buy land.
We are confident that with cash on hand, we will continue to be well-placed to acquire more land parcels.
For the half year ended September 30, the Oberoi Realty's consolidated net profit increased by 24% to Rs 217 crore from Rs 175 crore in the year ago period.
Its consolidated revenue grew by 38% to Rs 472 crore in the first half of this financial year from Rs 343 crore in the corresponding period of the financial year 2010-11.
No comments:
Post a Comment