New Delhi, April 29 || Mumbai-based real estate firm Oberoi Realty saw its share price decline by Rs 46.80 or 2.82 per cent to Rs 1,610 on the National Stock Exchange (NSE) on Tuesday.
The fall came after the company reported a 45 per cent drop in its consolidated net profit for the fourth quarter (Q4) of FY25.
According to its filing with the Bombay Stock Exchange (BSE), Oberoi Realty’s net profit for the January-March quarter stood at Rs 433.17 crore, compared to Rs 788.03 crore in the same period last fiscal.
The sharp fall in profit was mainly due to a steep rise in land acquisition costs and a drop in operational revenue.
Oberoi Realty’s land acquisition costs jumped by 207 per cent, reaching Rs 587 crore in the March quarter of FY25, compared to Rs 191 crore a year ago.
This significant rise in costs affected the company’s bottom line despite a strong market presence.
The company’s revenue from its core operations fell 12.5 per cent to Rs 1,150.14 crore in Q4, down from Rs 1,314.77 crore in the same quarter of the previous fiscal.