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Real estate player Oberoi Realty Ltd posted a 24 per cent rise in its consolidated net profit at Rs 79.57 crore for the first quarter of 2015-16 as against Rs 64.33 crore in the same period a year ago.
The total income of the company rose to Rs 215.78 crore during the quarter under review from Rs 181.85 crore in the corresponding period of the previous year.
The aggregate area booked in Q1FY16 was 0.81 lakh sq ft as against 0.68 lakh sq ft booked in Q1FY15.
The company said its order book stood at Rs 2,705 crore as against Rs 1,535 crore at the end of Q1FY15.
Vikas Oberoi, Chairman & Managing Director, Oberoi Realty Ltd said, “The Government's emphasis both at the Centre and the state is on transparency, governance, and ease of business. The state government’s ‘Make in Maharashtra’ initiative and its focus on seeking FDI for the state, coupled with a strong focus on Mumbai’s infrastructure by fast-tracking key projects such as the Mumbai Metro and the proposed Coastal Road, will improve the quality of life for people living in Mumbai and become key drivers for increased demand in the city. With these stimulus to growth and our continued focus on timely delivery and quality products, Oberoi Realty is gearing up to launch its project in Borivali by September 2015.”
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