Q4 2024 Oberoi Realty Ltd Earnings Call Transcript
Key Points
- Oberoi Realty Ltd (BOM:533273) recorded its highest ever quarterly and annual profits in the current fiscal year.
- The launch of Elysian Tower-C at Oberoi Garden City in Q4 garnered strong demand from customers.
- Received occupation certificate for Commerz 3, with Morgan Stanley as a large tenant and strong leasing interest from prospective tenants.
- Entered into a deal to redevelop seven buildings in Adarsh Nagar, Worli, with a potential free sale component of about 6.25 lakh square feet.
- The Borivali mall is near completion with significant leasing progress and expected to be one of the best malls in the country.
- Execution timelines for projects like the Borivali mall and Commerz 3 are challenging and can be moving targets.
- The Thane project has faced delays, although work has now commenced.
- The company faces competition in the luxury segment, particularly in markets like Delhi.
- CapEx requirements for upcoming projects in hospitality and office sectors are significant.
- The company is cautious about aggressive expansion and prefers prudent growth, which may limit rapid scaling.
Ladies and gentlemen, good day, and welcome to the Oberoi Realty Q4 FY24 earnings conference call. We have Mr. Oberoi, the Chairman and Managing Director of the company; and Mr. Saumil Daru, Director of Finance of the Company with us for the call. (Operator Instructions)
This conference call is being recorded and the transcript for the same may be put up on the website of the company. (Operator Instructions) Before I hand the conference over to the management, I would like to remind you that certain statements made during the course of this call may not be based on historical information or facts. And may be forward-looking statements, including those relating to general business statements, plans, strategy of the company, the future financial condition and growth prospect.
The forward-looking statements are based on expectations and projections and may involve a number of risks and uncertainties and other factors that could cause actual results, opportunities and growth potential to differ materially from those suggested by such statements.
I now hand the conference call over
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