Oberoi Realty January-March net profit up 64% to Rs 788 crore

Realty developer Oberoi Realty has reported 64% on year rise in net profit at Rs 788 crore for the quarter ended March. Total income for the period grew 56% to Rs 1,558 crore.

For the financial year 2023-24, the company’s net profit rose to Rs 1,925 crore as against Rs 1904 crore, while total income increased to Rs 4,818 crore from Rs 4,293 crore, the company said in a regulatory filing.

The company’s board of directors has passed enabling resolutions for an issue of non-convertible debentures (NCDs) and Qualified Institutional Placement of equity shares in one or more tranches totalling up to Rs Rs 4,000 crore.

Of this, the issue of non-convertible debentures will be up to Rs 2,000 crore by way of private placement, while the balance amount is expected to be raised through the QIP.