New Delhi: Oberoi Realty reported a 36 per cent decline in pre-sales during the first quarter of FY27, with sales bookings falling to Rs 1,049.88 crore from Rs 1,638.68 crore in the same period last year. The drop was mainly due to lower sales volumes across its residential projects.
During the April-June quarter, the Mumbai-based developer sold 161 residential units covering 2.28 lakh square feet.
Customer collections remain healthy
The company collected Rs 921.40 crore from customers during the June quarter, indicating steady cash inflows despite lower booking volumes.
While the first quarter started on a weaker note, the company expects a much stronger performance in the coming quarters.
Gurugram project boosts outlook
Oberoi Realty has entered the Delhi-NCR market with a luxury housing project in Gurugram. The project involves an investment of around Rs 6,000 crore and has an estimated revenue potential of Rs 16,000 crore.
In the first week of July, the company announced that it had sold luxury homes worth Rs 8,109 crore in the newly launched project, making it one of its strongest project launches.
These sales are expected to help the company comfortably exceed its FY26 sales bookings of Rs 5,447 crore.
Legal issue, but no business impact
The Gurugram project, however, faced a legal challenge after the Punjab and Haryana High Court restrained the company from making any fresh flat allotments.
Oberoi Realty clarified that the court order has not stopped construction and does not affect homes already sold. The company also said it would take the necessary legal steps to protect its interests.
Profit rises despite slower pre-sales
Despite the decline in bookings, Oberoi Realty reported strong financial performance.
Its consolidated net profit rose 29 per cent to Rs 543.51 crore in the June quarter, while total income increased to Rs 1,361.69 crore from Rs 1,073.98 crore a year earlier.
So far, Oberoi Realty has delivered 51 projects covering 17.3 million sq ft, while more than 34 million sq ft is currently under construction.
