Oberoi Realty (OBEROIRLTY) Q3 25/26 earnings summary

Executive summary

• Full occupation certificate received for Eternia, Mulund, and a redevelopment agreement entered for Nepean Sea Road; unaudited consolidated and standalone financial results for the quarter ended December 31, 2025, were approved by the Board.

• Revenue from operations for 9MFY26 was ₹4,25,923 lakh, up from ₹4,13,613 lakh year-over-year; consolidated Q3 FY26 revenue was Rs. 1,49,264 lakh, with net profit at Rs. 62,264 lakh.

• Net profit for 9MFY26 stood at ₹1,80,415 lakh, marginally higher than ₹1,79,234 lakh in 9MFY25; diluted EPS for 9MFY26 was ₹49.62.

• Strong inquiries for 360 West; Commerz II office occupancy at 100%, Commerz III at 90%; Sky City Mall scaling up with strong leasing demand.

• Results reviewed by statutory auditors with no material misstatements identified.

Financial highlights

• Operating cash flows for 9MFY26 were ₹1,09,653 lakh, down from ₹1,87,656 lakh in 9MFY25; closing cash and bank balance at 9MFY26 was ₹3,15,671 lakh.

• Equity increased to ₹17,28,967 lakh as of 9MFY26 from ₹15,34,508 lakh in 9MFY25; gross debt to equity ratio improved to 0.17 from 0.23 year-over-year.

• Consolidated net profit margin was 39.87%; operating margin was 55.89% for Q3 FY26.

• Interest service coverage ratio (consolidated) was 12.16; current ratio was 4.21.

• Standalone revenue for Q3 FY26 was Rs. 1,18,017 lakh, with net profit at Rs. 47,182 lakh.

Outlook and guidance

• Multiple project launches planned, including Goregaon, Borivali, Thane, Pedder Road, and NCR, with some launches slipping from Q3 to Q4 and Q1 next year; FY 2027 expected to be significant for new launches.

• Entered redevelopment agreement for 1.18 lakh sqft RERA carpet area at Nepean Sea Road, Mumbai.

• Awards and recognitions for Sky City Mall, Commerz III, and Three Sixty West signal strong project execution.

• The Board declared a 3rd interim dividend of Rs. 2 per equity share for FY 2025-26.

• Confident in management bandwidth and execution capability for upcoming launches.