Oberoi Realty Records 4% Rise in Sales Bookings; Plans Rs 6,000 Crore Fundraising

Oberoi Realty, a major player in India's real estate sector, has announced a 4% growth in its sales bookings, reaching Rs 5,447 crore in the past fiscal year. This increase is attributed to a surge in the demand for luxury homes. Additionally, the company's net profit saw an upswing, rising to Rs 2,507.64 crore.

The company is gearing up to bolster its business expansion plans, as evidenced by its board's recent approval to raise funds amounting up to Rs 6,000 crore. This will be achieved through the issuance of various securities in tranches, potentially including private placements and qualified institutions placements.

Oberoi Realty's financial health has shown improvements with total income increasing to Rs 6,304.27 crore, showcasing a robust trajectory in the real estate market. The proposed fundraising aims to further strengthen its market position and capitalize on ongoing demand trends.

(With inputs from agencies.)