Oberoi Realty share price up 7% on robust Q2 earnings

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Oberoi Realty share price rose over 7 percent in the morning trade on November 1 on the back of good September quarter earnings and gross bookings of Rs 787 crore for its newly launched project.

Oberoi Realty recorded a gross booking value of around Rs 787 crore for around 3.90 lakh sq ft for its new tower in the Elysian project at Oberoi Garden City, Goregaon, launched on October 28.

With this, the cumulative gross booking value from January 1, 2021 till date stands at around Rs 2,705 crore, the company has said.

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The company on October 29 posted a 93.54 percent jump in its consolidated net profit at Rs 266.59 crore for the quarter ended September against a profit of Rs 137.74 crore in the year-ago period.

The total income rose to Rs 768.52 crore in the second quarter from Rs 325.28 crore in the corresponding period of the previous year, according to a regulatory filing.

At 10.08 am, Oberoi Realty was quoting at Rs 948.25, up Rs 42.70, or 4.72 percent, on the BSE.