Oberoi Realty's residential sales grew by 66% in the last fiscal (2018-19), but the average square feet price of the realtor's apartments have either increased marginally or fallen a few notches during the period. The company claims that lower floors were sold, resulting in a lesser average rate.

There are five residential projects up for sale. During FY19, the company's Esquire project's average per square price was almost stagnant at Rs 20,979, but for its Sky City project, the average rate increased by a couple of hundred rupees to Rs 16,143.

On the other hand, projects like Eternia, Enigma and Three Sixty West saw a dip in average per square feet rate.

"The prices are arrived at on the basis of a base rate and floor rise. When a project is launched, the lower floors having lesser price tag gets sold first. That is why the average is lower in some cases. Otherwise, our base rate has remained the same and there has been no change in our price," explained Saumil Daru, chief financial officer, Oberoi Realty.

Sales of all the projects improved, with the Mumbai-based developer clocking sale of 371 apartments in FY19 as compared to 224 units in FY18.

During an earnings call on Monday, the company shares that it will launch two projects in the Mumbai Metropolitan Region.

On the earnings front, Oberoi Realty recorded a rise in consolidated net profit to Rs 816.93 crore during the fiscal ending March 31, 2019, as against Rs 458.80 crore a year ago. Topline for FY2019 stood at Rs 2,661.25 crore as against Rs 1,292.01 crore for FY18.

During Q4 FY19, the builder's profit after tax was Rs 155.76 crore as against Rs 142.92 crore during the corresponding quarter of previous fiscal. The revenue too improved during the same period to Rs 597.30 crore as compared to Rs 352.84 crore a year ago.