Oberoi Realty Ltd

About

Oberoi Realty Ltd is a real estate development company, headquartered in Mumbai. It is the part of Oberoi Realty Group, focused on developments in the residential, office space, retail, hospitality, and social infrastructure verticals. [1]

Key Points

Market Presence
The Co. has developed over 42 projects at strategic locations across Mumbai aggregating about 11.89 mn sqft of spaces, with another 45.31 million sq. ft. in the making as of FY21. [1] [2]

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  • Market Cap 30,259 Cr.
  • Current Price 833
  • High / Low 1,052 / 455
  • Stock P/E 32.9
  • Book Value 267
  • Dividend Yield 0.00 %
  • ROCE 9.47 %
  • ROE 8.18 %
  • Face Value 10.0

Pros

  • Company is expected to give good quarter

Cons

  • Stock is trading at 3.12 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has a low return on equity of 9.09% for last 3 years.

Peer comparison

Sector: Realty Industry: Construction

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021
529 574 603 491 527 616 118 316 828 790 284 754
341 364 368 279 298 245 60 130 446 417 159 381
Operating Profit 188 210 235 213 230 371 58 186 382 374 125 373
OPM % 36% 37% 39% 43% 44% 60% 49% 59% 46% 47% 44% 49%
Other Income 23 25 16 15 11 12 10 11 9 11 12 16
Interest 5 4 24 25 20 20 18 18 20 20 17 17
Depreciation 11 11 11 11 11 11 11 10 10 10 10 10
Profit before tax 195 220 216 192 210 351 40 169 361 355 110 362
Tax % 29% 29% 30% 28% 29% 28% 29% 18% 21% 19% 26% 26%
Net Profit 138 156 152 138 148 251 28 138 287 287 81 267
EPS in Rs 3.79 4.28 4.18 3.80 4.08 6.90 0.77 3.79 7.88 7.89 2.22 7.33

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 TTM
790 996 825 1,048 798 923 1,416 1,114 1,265 2,582 2,238 2,053 2,657
316 419 341 435 364 409 740 543 589 1,427 1,189 1,052 1,403
Operating Profit 473 577 483 613 435 514 676 571 676 1,156 1,048 1,001 1,254
OPM % 60% 58% 59% 58% 54% 56% 48% 51% 53% 45% 47% 49% 47%
Other Income 16 63 150 99 57 17 43 50 29 86 54 41 49
Interest 0 0 0 0 0 2 7 6 7 19 88 76 74
Depreciation 9 24 27 29 27 40 49 50 49 44 45 41 41
Profit before tax 481 615 606 683 464 489 663 565 650 1,178 969 924 1,187
Tax % 5% 16% 24% 26% 33% 35% 35% 33% 29% 31% 29% 20%
Net Profit 458 517 463 505 311 317 436 379 459 817 689 739 921
EPS in Rs 15.76 14.10 15.38 9.48 9.66 12.84 11.15 13.51 22.47 18.96 20.33 25.32
Dividend Payout % 1% 6% 14% 13% 21% 21% 16% 18% 15% 9% 0% 0%
Compounded Sales Growth
10 Years: 8%
5 Years: 8%
3 Years: 18%
TTM: 68%
Compounded Profit Growth
10 Years: 4%
5 Years: 12%
3 Years: 17%
TTM: 63%
Stock Price CAGR
10 Years: 14%
5 Years: 24%
3 Years: 23%
1 Year: 80%
Return on Equity
10 Years: 9%
5 Years: 9%
3 Years: 9%
Last Year: 8%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Sep 2021
325 364 328 328 328 328 339 340 340 364 364 364 364
Reserves 1,539 2,983 3,406 3,834 4,068 4,306 5,002 5,386 5,753 7,666 8,266 9,006 9,352
Borrowings 0 0 0 0 76 902 473 869 1,694 1,586 1,519 1,534 2,094
720 680 1,050 1,127 1,015 1,584 1,669 1,865 2,401 1,483 1,045 1,116 1,697
Total Liabilities 2,548 3,991 4,785 5,289 5,487 7,120 7,484 8,459 10,188 11,098 11,193 12,019 13,507
307 758 966 952 931 1,280 247 945 976 1,062 1,046 1,014 994
CWIP 510 173 284 385 434 22 49 110 113 126 305 1,980 2,852
Investments 79 65 0 0 50 0 2,182 1,824 2,420 2,938 2,406 1,620 1,834
1,652 2,996 3,534 3,952 4,073 5,818 5,007 5,581 6,679 6,972 7,435 7,406 7,827
Total Assets 2,548 3,991 4,785 5,289 5,487 7,120 7,484 8,459 10,188 11,098 11,193 12,019 13,507

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
523 279 326 142 -517 -938 453 174 -202 146 -282 703
-285 -31 -626 -833 715 -88 -121 -559 -592 -646 358 -597
-44 985 -38 -76 -1 694 -204 335 651 839 -309 -116
Net Cash Flow 194 1,233 -338 -767 197 -333 128 -50 -143 339 -233 -11

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
Debtor Days 19 17 30 18 39 33 29 35 52 15 19 23
Inventory Days 6,239
Days Payable 97
Cash Conversion Cycle 19 17 30 18 39 33 29 35 52 15 19 6,165
Working Capital Days 280 165 121 200 652 1,107 731 1,049 1,159 694 935 998
ROCE % 29% 24% 17% 17% 11% 10% 12% 9% 9% 13% 11% 9%

Shareholding Pattern

Numbers in percentages

Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021
67.70 67.70 67.70 67.70 67.70 67.70 67.70 67.70 67.70 67.70 67.70 67.70
25.40 25.38 26.07 25.77 25.33 24.91 26.15 25.40 25.61 24.85 23.49 22.21
4.49 4.39 3.87 4.27 4.81 5.52 4.43 4.67 4.43 4.87 6.00 7.32
2.41 2.53 2.35 2.25 2.15 1.86 1.71 2.23 2.25 2.57 2.80 2.76

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