Oberoi Realty Q1 profit falls 20% to Rs 322 crore

New Delhi: Oberoi Realty has posted 20 per cent decline in consolidated net profit at Rs 321.64 crore for the June quarter on higher expenses with stable revenue.

Net profit of the Mumbai-based real estate developer stood at Rs 403.08 crore in the year-ago period.

Total income fell slightly to Rs 933.56 crore during April-June period of this financial year from Rs 934.81 crore a year ago, according to a regulatory filing.

Expenditure grew to Rs 509.07 crore in the quarter from Rs 463.32 crore in the year-ago period.

Oberoi Realty is one of the leading real estate firms in the country. It is focused on premium developments in the residential, office space, retail, hospitality, and social infrastructure verticals.