New Product Or Brand Launch
Expected: H2 FY26HIGH confidence
What: Launch Pipeline: Gurugram, Adarsh Nagar, Worli
“The kind of demand I see, people are already approaching us and telling us, whenever you open you, let me know, can I pay you now?”
Oberoi Realty Ltd: Why Is It Outperforming Nifty 500?
ActiveRS +12.5%Average4w Streak
In , Oberoi Realty Ltd (Realty - Regional) is outperforming Nifty 500 with +12.5% relative strength. Fundamentals: Average. On a 4-week streak.
Oberoi Realty Ltd Key Facts
- PE Ratio
- 24.5x
- Market Cap
- ₹61,921 Cr
- PAT Growth YoY
- +62%
- Revenue Growth YoY
- +52%
- OPM
- 54.0%
- RS vs Nifty 500
- +12.5%
PE: Mid ExpansionEmerging Opportunity
What's Happening
⏳Steady earner with flat PE — waiting for re-rate catalyst
🌐FII stake decreased 2.3% this quarter
🏛️DII accumulation — stake up 1.9%
💰Trading 28% above estimated fair value — significant premium
Earnings Acceleration Triggers
1. New Product Or Brand Launch
H2 FY26HIGH
2. Operating Leverage Inflection
OngoingHIGH
3. Tam Expansion Changing Consumption
OngoingMEDIUM
Key Risks
1. RERA restrictions on cash utilization and advertising before formal approval
MEDIUM2. Input cost inflation affecting project margins
LOWSector-Specific Signals
Quarterly Booking Value₹836.35 Cr
Area Booked in Q31.86 Lakh sqft
Amount Collected₹974.74 Cr
Total Inventory on Date31.40 Lakh sqft
Key Numbers
PAT Growth YoY
+62%
Inflection Up
Revenue YoY
+52%
Inflection Up
Operating Margin
54.0%
0 bps YoY
PE Ratio
24.5
Current Price
₹1,703
Dividend Yield
0.47%
Fundamental Score
54/100
Average
3Y PAT CAGR
+10%
Market Cap
61.9K Cr
Valuation
Significantly Overvalued12-Week Performance
Weekly presence in the outperformers list. Green = beating Nifty 500 by 10%+ that week.
12 weeks agoThis week
Why Are Oberoi Realty Ltd's Earnings Accelerating?
Based on Q3 FY26 earnings • Updated Apr 19, 2026
Operating Leverage Inflection
Expected: OngoingHIGH confidence
What: Rental Revenue: ₹300 Cr
Impact: 93.4% Rental Margin
“Commerz III and Sky City Mall continue to scale up on strong leasing demand for office and retail tenants.”
Tam Expansion Changing Consumption
Expected: OngoingMEDIUM confidence
What: Luxury Demand: Price hike at Sky City
“witnessed strong sales velocity at Sky City despite the price hike we took recently, indicating healthy demand for luxury real estate.”
Rental Revenue at ₹300 Cr
HIGH confidence
What: Rental Revenue at ₹300 Cr
“Revenue from Rent 30,000 [Q3FY26] 29,016 [Q2FY26] 22,363 [Q3FY25]”
What Are the Key Risks for Oberoi Realty Ltd?
Earnings deceleration risks from management commentary
RERA restrictions on cash utilization and advertising before formal approval
MEDIUMTrigger: RERA prevents collecting cheques or advertising before all approvals are in place, locking cash in project accounts.
Management view: Holding inventory to sell at higher prices near completion when cash can be utilized better.
Monitor: regulatory
Input cost inflation affecting project margins
LOWTrigger: General construction cost trends, though management offsets this through price hikes.
Management view: Pushing prices higher as projects differentiate on quality.
Monitor: commodity
What Is Oberoi Realty Ltd's Management Saying?
Key quotes from recent conference calls
“And we are hoping, we are really, really hoping to launch it within this financial year itself [referring to Gurgaon]. [Previous Project Launches guidance]”
“we are hoping that Thane will probably settle somewhere around Rs. 1,000 crores every year kind of sustenance sales. [Previous Thane Sales guidance]”
“we have also loaded entire TDR on the file. So, 100% of this area will be approved at one go. [Initiative: NCR Expansion (Gurugram)]”
“I see literally a 20% return on my investment if I don’t sell... there's no point in selling. [Initiative: Inventory Holding Strategy]”
What Did Oberoi Realty Ltd Report This Quarter?
Headline numbers from the latest earnings call
Revenue
₹1,492.64 Cr
YoY +5.8%QoQ -16.1%
Why: Revenue from projects decreased sequentially to ₹1,10,412 lakh from ₹1,39,666 lakh in the previous quarter.
Revenue growth was supported by a significant increase in rental income which rose to ₹30,000 lakh from ₹22,363 lakh YoY.
EBITDA
₹90,975 Lakh
YoY -0.3%Margin 60.95%
Why: Adjusted operating margins were impacted by the project mix and the stage of revenue recognition for newer projects like Jardin.
The rental segment maintained exceptionally high margins at 93.43%.
PAT
₹622.64 Cr
YoY +0.7%QoQ -18.1%
Why: Net profit followed the sequential decline in project revenue recognition despite stable year-on-year performance.
PAT margins remained healthy at 40.27% for the nine-month period.
Other Highlights
• Received full Occupation Certificate for Eternia, Mulund project.
• Entered redevelopment agreement for 1.18 lakh sqft RERA carpet area at Nepean Sea Road, Mumbai.
• Sky City Mall awarded Global Retail Project of the Year at GRI Awards.
What Sector Metrics Matter for Oberoi Realty Ltd?
Sub-sector-specific signals from the latest concall — each with management's stated reason for the change
Quarterly Booking Value
₹836.35 Cr
Why: Driven by sales across Elysian, Eternia, and Three Sixty West.
Area Booked in Q3
1.86 Lakh sqft
Why: Reflects sustenance sales across the portfolio.
Amount Collected
₹974.74 Cr
Why: Strong collections from ongoing projects like Elysian and Three Sixty West.
Total Inventory on Date
31.40 Lakh sqft
Why: Remaining unsold area across key development properties.
Office Portfolio Occupancy
92%
Why: High demand for premium office space in Commerz I, II, and III.
Retail Portfolio Occupancy
69%
Why: Blended occupancy across Oberoi Mall (99%) and the scaling Sky City Mall (56%).
Westin RevPAR
₹13,764
YoY +6.6%QoQ +24.6%
Why: Improved room rates and occupancy during the festive/travel season.
Net Debt to Equity
-0.02
Why: Company maintains a net cash position due to strong liquid investments.
What Is Oberoi Realty Ltd's Management Guidance?
Forward-looking targets from management
Capex Plan
₹125 Cr
Capex Plan
₹125 Cr
Construction of Ritz-Carlton, Sky City, and Commerz III
Volume
Thane Sustenance Sales
Management Tone: BULLISH
Guidance Changes
REAFFIRMED
Project Launch Pipeline: Plethora of projects queued → Gurugram, Adarsh Nagar, Pedder Road, and Carter Road on track
How Fast Is Oberoi Realty Ltd Growing?
Revenue, profit and margin growth rates
| Metric | YoY | 3Y CAGR | Trend |
|---|---|---|---|
| Revenue | +52% | +13% | Inflection Up |
| PAT (Net Profit) | +62% | +10% | Inflection Up |
| OPM | 54.0% | 0 bps | Volatile |
The above analysis is parsed from publicly available earnings call transcripts. This is educational research only — not investment advice. Last updated Apr 19, 2026.
Frequently Asked Questions: Oberoi Realty Ltd
Based on publicly available financial data. This is educational research, not investment advice.
What were Oberoi Realty Ltd's latest quarterly results?
Oberoi Realty Ltd's latest quarterly results (Mar 2026) show
- PAT Growth YoY: +62.4% (turning around (inflection up))
- Revenue Growth YoY: +52.2%
- Operating Margin: 54.0% (volatile)
Is Oberoi Realty Ltd's profit growing or declining?
Oberoi Realty Ltd's profit is growing with an turning around (inflection up) trend.
- PAT Growth YoY: +62.4% (latest quarter)
- PAT Growth QoQ: +12.8% (sequential)
- 3-Year PAT CAGR: +9.6%
- Trend: Turning around (inflection up) — consistent growth pattern
What is Oberoi Realty Ltd's revenue growth trend?
Oberoi Realty Ltd's revenue growth trend is turning around (inflection up).
- Revenue Growth YoY: +52.2%
- Revenue Growth QoQ: +17.2% (sequential)
- 3-Year Revenue CAGR: +12.7%
How is Oberoi Realty Ltd's operating margin trending?
Oberoi Realty Ltd's operating margin is volatile.
- Current OPM: 54.0%
- OPM Change YoY: 0.0% basis points
- OPM Change QoQ: -3.0% basis points
What is Oberoi Realty Ltd's 3-year profit and revenue CAGR?
Oberoi Realty Ltd's long-term compounding rates
- 3-Year Profit CAGR: +9.6%
- 3-Year Revenue CAGR: +12.7%
Is Oberoi Realty Ltd's growth accelerating or decelerating?
Oberoi Realty Ltd's earnings growth is turning around (inflection up) with mixed signals on a sequential basis.
- YoY Acceleration: +61.6% bps
- Sequential Acceleration: +30.8% bps
What is Oberoi Realty Ltd's trailing twelve month (TTM) performance?
Oberoi Realty Ltd's trailing twelve month (TTM) performance
- TTM PAT: ₹3,000 Cr
- TTM PAT Growth: +12.7% YoY
- TTM Revenue: ₹6,000 Cr
- TTM Revenue Growth: +13.7% YoY
- TTM Operating Margin: 55.5%
Is Oberoi Realty Ltd overvalued or undervalued?
Oberoi Realty Ltd appears significantly overvalued based on our fair value analysis.
- Valuation Signal: Significantly Overvalued
- Current PE: 24.5x
- Price-to-Book: 3.5x
What is Oberoi Realty Ltd's current PE ratio?
Oberoi Realty Ltd's current PE ratio is 24.5x.
- Current PE: 24.5x
- Market Cap: 61.9K Cr
- Dividend Yield: 0.47%
How does Oberoi Realty Ltd's valuation compare to its history?
Oberoi Realty Ltd's current PE is 24.5x.
- Current PE: 24.5x
- Valuation Assessment: Significantly Overvalued
What is Oberoi Realty Ltd's price-to-book ratio?
Oberoi Realty Ltd's price-to-book ratio is 3.5x.
- Price-to-Book (P/B): 3.5x
- Book Value per Share: ₹493
- Current Price: ₹1703
Is Oberoi Realty Ltd a fundamentally strong company?
Oberoi Realty Ltd is rated Average with a fundamental score of 53.56/100. This score is calculated from objective financial metrics
- Revenue Growth YoY: +52.2% (10% weight)
- PAT Growth YoY: +62.4% (10% weight)
- PAT Growth QoQ: +12.8% (10% weight)
- Margins stable (10% weight)
Is Oberoi Realty Ltd debt free?
Oberoi Realty Ltd has a debt-to-equity ratio of N/A.
- Total Debt: ₹3,000 Cr
What is Oberoi Realty Ltd's return on equity (ROE) and ROCE?
Oberoi Realty Ltd's return ratios over recent years
- FY2024: ROCE 15.0%
- FY2025: ROCE 18.0%
- FY2026: ROCE 18.0%
Is Oberoi Realty Ltd's cash flow positive?
Oberoi Realty Ltd's operating cash flow is positive (FY2026).
- Cash from Operations (CFO): ₹1,000 Cr
- Free Cash Flow (FCF): ₹917 Cr
- CFO/PAT Ratio: 55% (adequate)
What is Oberoi Realty Ltd's dividend yield?
Oberoi Realty Ltd's current dividend yield is 0.47%.
- Dividend Yield: 0.47%
- Current Price: ₹1703
Who holds Oberoi Realty Ltd shares — promoters, FII, DII?
Oberoi Realty Ltd's shareholding pattern (Mar 2026)
- Promoters: 67.7%
- FII (Foreign): 15.4%
- DII (Domestic): 14.6%
- Public: 2.3%
Is promoter holding increasing or decreasing in Oberoi Realty Ltd?
Oberoi Realty Ltd's promoter holding has remained stable recently.
- Current Promoter Holding: 67.7% (Mar 2026)
- Previous Quarter: 67.7% (Dec 2025)
- Change: 0.00% (stable)
How long has Oberoi Realty Ltd been outperforming Nifty 500?
Oberoi Realty Ltd has been outperforming Nifty 500 for 4 consecutive weeks, indicating building momentum.
Is Oberoi Realty Ltd a new momentum entry or an established outperformer?
Oberoi Realty Ltd is an established outperformer with 4 weeks of consecutive Nifty 500 outperformance.
What are the growth catalysts for Oberoi Realty Ltd?
Oberoi Realty Ltd has 4 key growth catalysts identified from recent earnings analysis
- New Product Or Brand Launch — Strong pre-launch inquiry levels despite no formal advertising.
- Operating Leverage Inflection — Commerz III and Sky City Mall are scaling up with strong leasing demand.
- Tam Expansion Changing Consumption — Healthy demand for luxury real estate from quality developers despite price increases.
- Rental Revenue at ₹300 Cr — Driven by the scale-up of Commerz III and Sky City Mall leasing demand.
What are the key risks in Oberoi Realty Ltd?
Oberoi Realty Ltd has 2 key risks worth monitoring
- [MEDIUM] RERA restrictions on cash utilization and advertising before formal approval — RERA prevents collecting cheques or advertising before all approvals are in place, locking cash in project accounts.
- [LOW] Input cost inflation affecting project margins — General construction cost trends, though management offsets this through price hikes.
What did Oberoi Realty Ltd's management say in the latest earnings call?
In Q3 FY26, Oberoi Realty Ltd's management highlighted
- "And we are hoping, we are really, really hoping to launch it within this financial year itself [referring to Gurgaon]. [Previous Project Launches gui..."
- "we are hoping that Thane will probably settle somewhere around Rs. 1,000 crores every year kind of sustenance sales. [Previous Thane Sales guidance]"
- "we have also loaded entire TDR on the file. So, 100% of this area will be approved at one go. [Initiative: NCR Expansion (Gurugram)]"
What is Oberoi Realty Ltd's management guidance for growth?
Oberoi Realty Ltd's management has provided the following forward guidance
- Revenue outlook: Not Given
- Margin outlook: Not Given
- Capex plan: ₹125 Cr for Construction of Ritz-Carlton, Sky City, and Commerz III
- Management tone: bullish
- Milestone: [REAFFIRMED] Project Launch Pipeline: Plethora of projects queued → Gurugram, Adarsh Nagar, Pedder Road, and Carter Road on track
What sector-specific metrics matter most for Oberoi Realty Ltd?
Oberoi Realty Ltd's most important sub-sector-specific KPIs from the latest concall
- Quarterly Booking Value: ₹836.35 Cr — Driven by sales across Elysian, Eternia, and Three Sixty West.
- Area Booked in Q3: 1.86 Lakh sqft — Reflects sustenance sales across the portfolio.
- Amount Collected: ₹974.74 Cr — Strong collections from ongoing projects like Elysian and Three Sixty West.
- Total Inventory on Date: 31.40 Lakh sqft — Remaining unsold area across key development properties.
- Office Portfolio Occupancy: 92% — High demand for premium office space in Commerz I, II, and III.
- Retail Portfolio Occupancy: 69% — Blended occupancy across Oberoi Mall (99%) and the scaling Sky City Mall (56%).
Is Oberoi Realty Ltd worth studying for long term investment?
Based on quantitative research signals, here is why Oberoi Realty Ltd may be worth studying
- Earnings growing at +62.4% YoY
- Cash flow is positive — CFO ₹1,000 Cr
What is the investment thesis for Oberoi Realty Ltd?
Oberoi Realty Ltd investment thesis summary:
Research Signals (Bull Case)
- Revenue growing at +52.2% YoY
- Growth catalyst: New Product Or Brand Launch
Risk Factors (Bear Case)
- Appears significantly overvalued
- Key risk: RERA restrictions on cash utilization and advertising before formal approval
What is the future outlook for Oberoi Realty Ltd?
Oberoi Realty Ltd's forward outlook based on current data signals
- Earnings Trend: turning around (inflection up)
- Revenue Trend: turning around (inflection up)
- Margin Trend: volatile
- Valuation: Significantly Overvalued
- Key Catalyst: New Product Or Brand Launch
- Key Risk: RERA restrictions on cash utilization and advertising before formal approval
The above FAQs are generated from publicly available earnings data and conference call transcripts. This is educational research only. Sector Alpha is not SEBI registered and does not provide investment advice.