Future growth expectations in sales/revenue/volumes?

No launches planned in Q2 FY26; Borivali launch expected in Q3, and NCR and Pedder Road launches in Q4 FY26. Goregaon project already launched; Gurgaon project demolition started with approvals in place, launch imminent. Sales momentum expected to pick up post initial launch spikes and closer to project completions. New infrastructure developments like Mumbai Metro and Coastal Road anticipated to boost sales velocity and absorption rates across micro markets. Mix of products targeting middle-income (Thane), upper-middle class (Borivali, Goregaon), and elite (City) segments to diversify

Future growth expectations in earnings/operating earnings/profits/EPS?

Oberoi Realty continues to focus on profitable growth by prudently acquiring land with good margin potential, ensuring long-term returns. The company anticipates robust sales momentum from ongoing and upcoming launches in Borivali, Goregaon, NCR (Gurgaon), and South Bombay redevelopment projects (e.g., Pedder Road) in Q3 and Q4 FY26. Launch timing and pricing strategies are positively influenced by improved infrastructure (Mumbai Metro, Coastal Road), expected to enhance sales velocity and possibly prices. Operating cash flow is maintained positive, factoring in land acquisition premiums and d

Any current/future new fundraising through debt or equity?

There is no explicit mention of any current or immediate future fundraising through debt or equity in the provided transcript. Vikas Oberoi mentions a completed private equity transaction in I-Ven Realty, resulting in Rs. 1,250 crores received in the joint venture entity, but this appears to be a completed past transaction rather than a new fundraising. The company is actively evaluating land parcels and pursuing business development but emphasizes prudence and no urgency in acquisitions, with no specific fundraising plans disclosed. Cash position seems strong, and while they are open to land

Any current/future capex/capital investment/strategic investment?

Oberoi Realty is actively evaluating over 1,000 land proposals annually, focusing on Mumbai and NCR markets for strategic acquisitions. Recent acquisition of Hotel Horizon Private Limited land, offering optionalities for residential, hotel, and retail development; details and plans will be shared in due course. Ongoing project launches planned: Borivali (Q3 FY26), NCR Gurgaon projects, Pedder Road, and possibly Adarsh Nagar in Q4 FY26. Physical work initiated at Gurgaon site, including demolition and office setup; design and approvals mostly complete. Development underway for international sch

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Oberoi Realty LtdQ2 FY25Realty

Oberoi Realty Ltd Q2 FY25 Earnings Call Analysis

Revenue, margin, capex, fundraise and order book outlook from management commentary.

Price: ₹1,749P/E: 23.3Market Cap: ₹58.8K CrSector: Realty

Management growth scorecard

Revenue

Category 3

Margin

Category 3

Fundraise

N/A

Order

N/A

Capex

Yes

1 of 3 growth signals are positive — mixed outlook.

Full analysis

Revenue guidance

Category 3

→No launches planned in Q2 FY26; Borivali launch expected in Q3, and NCR and Pedder Road launches in Q4 FY26.
→Goregaon project already launched; Gurgaon project demolition started with approvals in place, launch imminent.
→Sales momentum expected to pick up post initial launch spikes and closer to project completions.
→New infrastructure developments like Mumbai Metro and Coastal Road anticipated to boost sales velocity and absorption rates across micro markets.
→Mix of products targeting middle-income (Thane), upper-middle class (Borivali, Goregaon), and elite (City) segments to diversify customer base.
→Active business development with over 1,000 land proposals reviewed annually; no major land deals announced yet but ongoing evaluation.
→Confident of sustaining profit margins due to prudent land acquisitions and focus on quality projects.
→Expect operating cash flow to remain positive despite some quarterly fluctuations.

Margin guidance

Category 3

→Oberoi Realty continues to focus on profitable growth by prudently acquiring land with good margin potential, ensuring long-term returns.
→The company anticipates robust sales momentum from ongoing and upcoming launches in Borivali, Goregaon, NCR (Gurgaon), and South Bombay redevelopment projects (e.g., Pedder Road) in Q3 and Q4 FY26.
→Launch timing and pricing strategies are positively influenced by improved infrastructure (Mumbai Metro, Coastal Road), expected to enhance sales velocity and possibly prices.
→Operating cash flow is maintained positive, factoring in land acquisition premiums and development costs.
→The firm targets sustaining EBITDA margins around 50%, with observed pricing stability and potential for price increases after achieving sales targets.
→Annuity assets and leasing operations in office/retail segments are scaling up occupancy, contributing to recurring revenues.
→Overall, the company aims for sustained profitability and return on equity (ROE), leveraging its flight-to-quality positioning amid market growth.

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Fundraise plans

→There is no explicit mention of any current or immediate future fundraising through debt or equity in the provided transcript.
→Vikas Oberoi mentions a completed private equity transaction in I-Ven Realty, resulting in Rs. 1,250 crores received in the joint venture entity, but this appears to be a completed past transaction rather than a new fundraising.
→The company is actively evaluating land parcels and pursuing business development but emphasizes prudence and no urgency in acquisitions, with no specific fundraising plans disclosed.
→Cash position seems strong, and while they are open to land deals, there is no indication of raising new capital through debt or equity in the near term.
→The focus remains on operational launches and expansions with an emphasis on maintaining profitability without referencing new debt or equity raises.

Order book

- The transcript does not explicitly mention a current or expected order book value for Oberoi Realty Limited. - However, there are pointers on sales and launches which reflect backlog and pipeline: - Borivali project is ongoing with prices at Rs. 45,000 to Rs. 50,000 per sq ft carpet and strong sales momentum. - Thane projects have generated close to Rs. 1,400-1,500 crores in sales over a year. - Goregaon had a strong launch (Elysian Tower D) with a Rs. 1,000+ crores sales spike. - Upcoming launches planned in Borivali (Q3 FY26), NCR/Gurgaon and Pedder Road (Q4 FY26). - Sales velocity varies, with spikes post-launch and near completion. - The company has a versatile product mix, targeting middle-income to elite segments across Mumbai suburbs. - Business development includes evaluating 1,000+ land parcels annually for future growth. No specific dollar/rupee value mentioned for the orderbook or pending orders directly.

Capex plans

Yes

→Oberoi Realty is actively evaluating over 1,000 land proposals annually, focusing on Mumbai and NCR markets for strategic acquisitions.
→Recent acquisition of Hotel Horizon Private Limited land, offering optionalities for residential, hotel, and retail development; details and plans will be shared in due course.
→Ongoing project launches planned: Borivali (Q3 FY26), NCR Gurgaon projects, Pedder Road, and possibly Adarsh Nagar in Q4 FY26.
→Physical work initiated at Gurgaon site, including demolition and office setup; design and approvals mostly complete.
→Development underway for international school, mall, and hotel in Thane's Pokhran Road area before residential launches.
→No launches planned in Q2 FY26; focus on quality and timed launches to optimize sales velocity.
→Continue to maintain profitable margins through prudent land purchases and quality development rather than volume.

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