Oberoi Realty reports strong operational updates, booking value rises more than six times

The booking value per flat has seen a significant jump, as the value has risen while the number of flats booked has slipped year-on-year. In Q4FY23, Oberoi Realty saw a total of 207 units booked against 234 units in Q4FY22. If calculated, the booking value per flat for Q4FY23 comes in at almost Rs 29 crore against Rs 4 crore, a jump of more than 7 times in prices. Even the price realisation per flat has risen to Rs 42,659 from Rs 17,643 per square feet, a jump of 142 percent year-on-year.

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For the whole year, total units booked have slipped 19 percent while booking value has risen 120 percent to Rs 8,572 crores, with Q4FY23 making the majority of the contribution.

Other players like Godrej, Macrotech and Sobha reported their lifetime high in residential sales. Godrej Properties exceeded its full year guidance by 22 percent for the financial year 2022-23. Macrotech Developers recorded pre-sales growth of 34 percent to Rs 12,064 crore, thereby surpassing its guidance. Sobha recorded its best ever sales quarter with a value of Rs. 14.63 billion and saleable area of 1.48 mn sft for the last quarter of financial year 2022-23.

In 2023 so far, the stock performance of Oberoi Realty has been almost in-line with its peers. It is up 5 percent against 4 percent for Godrej Properties and 11 percent for DLF.

Also read: Bumper housing sales in Mumbai and Pune, while Hyderabad sees a supply dip