Third quarter sales bookings at Oberoi Realty doubled to Rs 1,965 crore

Third quarter sales bookings at Oberoi Realty doubled to Rs 1,965 crore

Mumbai-based Oberoi Realty has reported over two-fold jump in its sales bookings at Rs 1,965 crore for the third quarter ended December on higher demand. In regulatory filings on Friday, Oberoi Realty has shared a summary of bookings made by the company for the third quarter of this financial year (on a consolidated basis). Its sales bookings rose to Rs 1,965 crore during the October-December quarter from Rs 971 crore in the year-ago period. Oberoi Realty sold 371 units during the last quarter against 234 units a year ago. During the first nine months of 2021-22, the company’s sales bookings jumped more than two-fold to Rs 2,964 crore from Rs 1,323 crore in the year-ago period.

Oberoi Realty, situated in Mumbai, recorded a more than two-fold increase in sales bookings to Rs 1,965 crore for the third quarter ended December, owing to increased demand. Microtech Developers reported a 40% growth in sales bookings to Rs 2,608 crore in the third quarter of this fiscal year, compared to Rs 1,862 crore the previous year.

It sold 610 units during the April-December period of 2021-22 as against 284 units in the same period of the last fiscal. Earlier this week, Macrotech Developers reported a 40 percent increase in its sales bookings to Rs 2,608 crore during the third quarter of this fiscal from Rs 1,862 crore in the year-ago period. According to property consultants, housing demand across major 7-8 cities has recovered sharply after the second wave of the COVID pandemic that hit sales during the April-June period last year. The market share of trusted real estate developers in the overall housing sales is gradually increasing as homebuyers have become risk-averse. As per reports of various consultants, housing sales in the 2021 calendar year increased sharply by 50-70 percent from the previous year. However, sales are yet to reach the 2019 pre-COVID levels.

Oberoi Realty Ltd on Thursday reported over two-fold jump in its sales bookings at Rs 828.52 crore for the quarter ended September on improved housing demand driven by low mortgage rates. Its sales bookings stood at Rs 327.30 crore in the year-ago period, the company said in a regulatory filing. The Mumbai-based company sold 200 units during the July-September quarter as against 45 units in the year-ago period. In terms of volume, it sold nearly 4.4 lakh sqft area in the second quarter as compared to over 1.3 lakh sq ft area in the corresponding period of the previous year.

During the April-September period, Oberoi Realty sold 239 units as against 50 units in the year-ago period. It booked a 5.36 lakh sqft area in the first six months of this fiscal area as compared to 1.42 lakh sqft in the first half of the last fiscal. In value terms, sales bookings jumped to Rs 998.49 crore during April-September 2021 from 352.09 crores in the year-ago period. Oberoi Realty is one of the leading real estate developers in the country.

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