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Oberoi Realty Q2FY27 Consolidated Results

19 Oct 2026, 10:18AM

Oberoi Realty reported consolidated revenue of Rs. 1,671 crore in Q2FY27. This was down 6.1% YoY and 7.7% below our estimate. EBITDA margin was 61.0%, up 364 bps YoY and 563 bps above our estimate of 55.4%. Better margins came from a higher share of premium and luxury projects., PAT of Rs. 761.7 crore was flat YoY and 1.6% above our estimate.
Pre-sales for the quarter were Rs. 9,149.7 crore, the highest ever for the company. This was driven by the launch of 360 North in Gurugram, a luxury project. 360 North alone contributed 86% of pre-sales (about Rs. 7,870 crore). Collections rose 40% YoY to Rs. 1,899.6 crore.
Revenue fell despite record sales because revenue is booked as construction progresses, not at the time of sale. The strong pre-sales of this quarter will add to revenue in the coming years.
The rental business stayed stable, with occupancy above 90% in both office and retail. Rental revenue was Rs. 369.9 crore, up 1.6% YoY.

Results (consolidated) Rs crore

Particulars	Q2FY27	Q2FY26	YoY%	Q1FY27	QoQ%
Net Revenues	1,671.0	1,779.1	-6.1%	1,300.9	28.4%
Operating Profit	1019.2	1020.3	-0.1%	734.1	38.8%
Reported PAT	761.7	760.3	0.2%	543.5	40.1%
EPS (Rs.)	20.9	20.9	0.2%	14.9	40.1%
Pre-Sales	9149.7	1299.1	604.3%	1049.9	771.5%
Collections	1899.6	1352.8	40.4%	921.4	106.2%
OPM(%)	61.0	57.4	364 bps	56.4	456 bps
NPM (%)	45.6	42.7	285 bps	41.8	380 bps
Tax rate (%)	23.6	23.7	-12 bps	23.8	-16 bps

Particulars	Q1FY27 (A)	Q2FY27 E	Var%
Net Sales	1671.0	1810.0	-7.7
Operating Profit	1019.2	1002.0	1.7
Adjusted PAT	761.7	750.0	1.6
EPS (Rs.)	20.9	20.6	1.6

OPM(%)	61.0	55.4	563 bps
NPM (%)	45.6	41.4	415 bps