Mumbai, July 21 (IANS) Oberoi Realty on Monday reported a 28 per cent year-on-year (YoY) drop in its consolidated net profit to Rs 421 crore for the quarter ended June (Q1 FY26), compared to Rs 585 crore in the same period in previous fiscal (Q1 FY25).

The decline in profit was driven by a steep fall in revenue, which dropped nearly 30 per cent to Rs 988 crore from Rs 1,405 crore in the year-ago quarter, according to its stock exchange filing.

Its operating performance also weakened during the quarter. EBITDA fell 36.2 per cent to Rs 520 crore from Rs 815 crore, and margins shrank to 52.7 per cent, down from 58 per cent in the same quarter previous year.

Despite the year-on-year (YoY) decline in financials, Oberoi Realty saw a healthy pickup in business activity.

The company recorded a 30.2 per cent increase in units booked, rising to 181 units from 139 a year earlier.

The carpet area booked also grew significantly by 67.3 per cent to 3.53 lakh square feet, while gross booking value jumped 53.6 per cent to Rs 1,639 crore from Rs 1,067 crore.

Oberoi Realty also announced an interim dividend of Rs 2 per share, with July 25 set as the record date to determine eligible shareholders. The dividend will be paid on or before August 7.

Shares of Oberoi Realty closed flat at Rs 1,835.5 on the Bombay Stock Exchange (BSE) on Monday, just before the results were announced, while the benchmark Sensex gained 0.54 per cent for the day.

“This is to inform you that the Board of Directors of the company at their meeting held on July 21 has declared interim dividend for FY25-26 at the rate of Rs 2 per equity share, i.e. 20 per cent of the face value of equity shares of Rs 10 each,” the company informed the BSE through the filing.

–IANS

pk/na