Street will track pace of bookings, project execution, and acquisition of new land
Oberoi Realty and ACC too see substantial increase in their earnings forecasts for the ongoing financial year
The penthouse has been purchased in the Three Sixty West project at Annie Besant Road in Worli, Mumbai
Mumbai-based Oberoi Realty has bought 63 residential units comprising over 5 lakh square feet in a luxury housing project at Worli in Mumbai. In a regulatory filing, Oberoi Realty said its shareholders had in December approved purchase/ acquisition of residential premises in the project 'Three Sixty West' constructed by Oasis Realty for up to Rs 4,000 crore. It was a material related party transaction, it added. On Saturday, Oberoi Realty said the company has concluded the purchase/ acquisition of residential premises in the project. Giving details, Oberoi Realty said the company has purchased 5,23,039 square feet carpet area. The total number of units purchased is 63, while the total amount of consideration paid by the company is Rs 3,403 crore. The stamp duty and other charges for purchase of these units are Rs 204 crore. The share of income tax liability discharged through Oasis Realty is Rs 605 crore. Consequently, Oberoi Realty said the company has recovered its entire fund
In terms of sectors, Wood remains bullish on the real estate sector and suggests the Indian realty market to be one of Asia's hottest investment bets, besides Singapore
While rising interest rates are expected to hamper affordability among buyers, analysts expect the underlying need for homeownership to remain strong, which would buoy housing sales going ahead
Target prices suggest further upside for the stock
ONGC has signed 6 contracts for Discovered Small Fields (DSFs) under the DSF-III bid round. Contracts were signed for 3 offshore fields each in the Arabian Sea, Bay of Bengal
CLOSING BELL: Tata Consumer Products, Titan, Eicher Motors, HUL, Tata Motors, Maruti, M&M, Nestle India, HDFC, L&T, and BPCL topped the charts
In terms of volume, Oberoi Realty's sales bookings stood at 4,01,182 square feet in April-June 2022 as compared to 92,128 square feet in the year-ago period
The rankings are based on data in a UBS report on Indian Real Estate which has been sourced from PropEquity.
Oberoi Realty posted a 63 per cent jump in net profit in Q3FY22
40 per cent correction in Godrej Property should see a smart 11 per cent jump now, technical charts suggest
Its net profit stood at Rs 286.65 crore in the year-ago period
Robust sales traction in Q3 helped bring down high levels of inventory
The Nifty Realty index can rally towards 525-level.
The market share of trusted real estate developers in the overall housing sales is gradually increasing as homebuyers have become risk-averse
Sharp run in stock prices over the past three months, however, caps near term upside
The technical analyst from HDFC Securities says that stock specific bullish moves will continue while Nifty consolidates in the 17,800 - 18,200 range
Sharp run in stock prices over the past three months, however, caps near term upside