Oberoi Realty
Stock Snapshot
Price Performance
Vista Outlook
View Technicals Analysis →Basis of our Recommendation
Oberoi Realty's recent management commentary highlights a strong growth trajectory, particularly following the successful launch of the 360 North project, which has exceeded expectations and bolstered cash flow visibility. This positive momentum is expected to support a projected 22% CAGR in pre-sales over FY26-28, driven by a robust launch pipeline that includes the upcoming Adarsh Nagar project. However, potential execution risks remain, particularly concerning project approvals and regional complexities in new markets. Vista's financial outlook reflects a moderating revenue growth trend, with stable margins anticipated, aligning with the company's strategic focus on premium residential and hospitality segments. The balance sheet remains conservatively financed, supporting financial stability. Industry dynamics, characterized by improving pricing power and a favorable macroeconomic environment, further underpin Oberoi's growth potential. Over the next 12-24 months, key opportunities include the expansion of the hospitality segment with the Ritz-Carlton launch and strong demand in the NCR region. Conversely, watchpoints include potential delays in project launches and execution risks associated with multiple concurrent developments
Why We Like This Stock
- Successful launch of the 360 North project has enhanced cash flow visibility and pre-sales expectations
- Strong demand for luxury residential projects and a robust launch pipeline support a projected 22% CAGR in pre-sales
- The hospitality segment is set to expand significantly with the upcoming Ritz-Carlton launch, contributing to revenue growth
Things To Watch Out For
- Execution risks related to project approvals and potential delays in launches could impact revenue generation
- Geographical challenges in new markets may affect sales momentum and operational efficiency
- A shift to a net cash deficit position in Q1FY27 raises concerns about cash flow management in the short term
Key Parameters
Financial Snapshot
| Actuals | Forecast | ||||
|---|---|---|---|---|---|
| FY24 | FY25 | FY26 | FY27 | FY28 | |
| Revenue (Cr.) | 4,496 | 5,286 | 6,009 | 5,768 | 6,831 |
| Profit Before Tax (Cr.) | 2,258 | 2,868 | 3,299 | 3,214 | 3,780 |
| PBT Margin | 50.2% | 54.3% | 5490.1% | 55.7% | 55.3% |
| Net Profit (Cr.) | 1,779 | 2,231 | 2,489 | 2,441 | 2,871 |
| Earnings Per Share | 48.9 | 61.4 | 68.5 | 67.1 | 78.9 |
Analyst Recommendations
| Broker | Recommendation | Target Price | Date |
|---|---|---|---|
| Axis Securities | ▲ Buy | 2,200 | 21-Jul-2026 |
| CLSA | ► Hold | 1,500 | 12-May-2026 |
| Elara Capital | ▲ Buy | 2,500 | 21-Jul-2026 |
| HDFC Securities | ▲ Buy | 2,490 | 29-Jun-2026 |
| HSBC | ▲ Buy | 2,310 | 21-Jul-2026 |
| JPMorgan | ▲ Overweight | 2,050 | 20-Jul-2026 |
| Jeffries | ► Hold | 1,970 | 21-Jul-2026 |
| Kotak Securities | ▼ Reduce | 1,900 | 21-Jul-2026 |
| Morgan Stanley | ► Equalweight | 1,440 | 12-Jun-2026 |
| Motilal Oswal | ► Neutral | 2,000 | 21-Jul-2026 |
| Nomura | ▲ Buy | 2,090 | 21-Jul-2026 |
| Prabhudas Liladhar | ► Accumulate | 2,100 | 21-Jul-2026 |
Company Overview
Show Company Profile
Oberoi Realty Limited, together with its subsidiaries, engages in real estate development business in India. The company operates through the Real Estate and the Hospitality segment. It develops and sells residential, commercial, retail, hospitality, and social infrastructure projects. The company also leases commercial properties; and owns and operates a hotel. In addition, it engages in the sale of rooms, food and beverages, and allied services related to hotel operations, as well as in the provision of property management services. Oberoi Realty Limited was incorporated in 1998 and is headquartered in Mumbai, India.