Oberoi Realty (OBEROIRLTY) Q4 15/16 earnings summary

Executive summary

• FY2015-16 delivered record annual gross bookings of 13 lakh sq. ft. and ₹2,362.85 crore by value; annual top line reached ₹1,444.30 crore.

• Sky City’s launch drew strong demand, while project activity and hospitality and rental income supported broad-based growth.

Financial highlights

• Consolidated revenue rose 53.62% YoY to ₹1,44,429.60 lakh; PBT increased 33.78% to ₹65,450.20 lakh and PAT rose 34.31% to ₹42,591.20 lakh.

• Consolidated EBITDA was ₹70,365.80 lakh vs ₹53,127.88 lakh; basic and diluted EPS were ₹12.68 vs ₹9.66.

• Standalone revenue increased 73.93% to ₹1,32,371.63 lakh; PBT rose 54.32% to ₹65,827.55 lakh and PAT rose 56.01% to ₹47,546.61 lakh.

• Consolidated revenue from projects grew 80.13% to ₹1,06,329.06 lakh; hospitality revenue rose 4.46% and rental-related revenue 3.53%.

• Other income included a ₹1,387.94 lakh net profit on sale of investments, vs ₹445.52 lakh in FY2014-15.

Outlook and guidance

• FY2016-17 began on a positive sector footing; expected supports included regulatory reforms, RBI rate cuts and the Seventh Pay Commission, with potential improvement in sales and unsold-inventory absorption.

• Development opportunities will be pursued in and around Mumbai, with land parcels also being explored in NCR and Bangalore on a case-by-case basis.

• Plans include strengthening relationships with architects, designers and contractors and broadening the vendor base to support project execution.