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Oberoi Realty’s Q3 profit increases by 7 percent

India’s largest construction company Oberoi Realty on Friday reported a 7 percent increase in consolidated net profit for Quarter 3.

In a filing with the exchange, Oberoi Reality said, “Despite the fall in total income, the company has reported a 7 percent increase in consolidated net profit at Rs 148.24 crore in the quarter-end of Dec last year, as compared to Rs 137.93 crore which stood in the same quarter a year ago.”

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“The company has reported a decline in total income to Rs 536.53 crore in the third quarter of 2019-20. As compared to Rs 548.79 crore in the same quarter a year ago,” the filing added.

Speaking at the earnings call, Vikas Oberoi, CMD, Oberoi Reality said, “The Union Budget and the new RBI policy have paved the path to growth and liquidity. Reputed corporates thrive in challenging times due to their ability to adapt and deliver value to their stakeholders.”

“We have also seen a marked improvement in buyer interest across all our projects; our diversified businesses also continue to perform well,” he added.