The Top 50 Real State & Infra Company- RANK 28, Oberoi Realty, Vikas Oberoi, CMD
One of the few companies to post such profits, Oberoi Realty’s consolidated Q2 net profit doubled to Rs 214 crore versus Rs 104 crore in the same quarter last year.
In June, it raise Rs 1,200 crore through issue of shares through a Qualified Institutional Placement (QIP). QIP is a capital-raising tool through which listed companies can sell shares, fully and partly convertible debentures, or any securities other than warrants that are convertible into stocks, to a qualified institutional buyer. The company is currently developing residential real estate projects with a total area of 13.65 million sq-ft, of which 5.6 million sq-ft has been sold till date.
The residential projects being built by the company include Prisma, Sky City and Esquire in the western Mumbai suburbs, respectively. It is also developing a residential and hotel project in upmarket locality of Worli in central Mumbai called Three Sixty West.
The company is currently developing residential real estate projects with a total area of 13.7 million sq-ft, of which 5.6 million sq-ft has been sold till date.