Oberoi Realty Limited (OBEROIRLTY)
Mid CapReal Estate stocks · Mid cap · NSE
Oberoi Realty is an Indian real estate developer focused on residential projects and investment properties including commercial, retail, and hospitality assets. The company manages a portfolio of ongoing development projects and operational income-generating properties.
One read, four checks
75+ is strong, 60-74 is usable, 45-59 is mixed, and below 45 needs caution. These are research lenses, not buy/sell instructions.
Mixed fundamentals, while price trend supports entry. This looks more like momentum/speculation than a clean fundamental investment setup.
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
low confidence · 0/0 claims checked
Timing lens: price trend and sector relative strength.
Rolling lens: recent quarterly delivery, not the latest single-result score.
Quarter ended 30 Jun 2026
Excellent · 75/100Rev +32% YoY · PAT +29% YoY · margin expansion
| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹1,301 Cr | +31.7% | -25.7% |
| EBITDA | ₹734 Cr | +41.2% | -22.7% |
| Operating margin | 56.0% | +300 bps | +200 bps |
| PAT | ₹544 Cr | +29.2% | -22.6% |
| PAT margin | 41.8% | -80 bps | +164 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Business & thesis
Growth engines, tailwinds/headwinds, and risk radar from management commentary
Business & thesis
Growth engines, tailwinds/headwinds, and risk radar from management commentary
Where growth can come from, and what can break the case
Q1FY27 revenue from operations grew 31.7% YoY, with net profit up 29.0% YoY, driven by strong rental income and project revenue recognition. However, residential area booked and gross booking value declined significantly YoY, raising concerns about future sales momentum.
While reported revenue and profit grew strongly YoY, the substantial decline in residential area booked (-32.5% YoY) and gross booking value (-26.3% YoY) in Q1FY27 suggests a slowdown in new sales momentum for the core development business. This could impact future revenue recognition and cash flow generation.
Revenue from Operations by Segment (Q1FY27)
Latest issuer-disclosed distribution across 5 reported categories.
Rental Income Growth
positiveRevenue from Rent grew 18.4% YoY to Rs. 33,110 Lakh in Q1FY27, supported by high commercial occupancy (98%).
Project Revenue Recognition
positiveRevenue from Projects increased 38.9% YoY to Rs. 87,958 Lakh, indicating progress in project completion and handover.
New Project Bookings
positiveJardin and Oceanic projects, where completion is 'yet to reach threshold', recorded new bookings of 53,542 sqft and 9,507 sqft respectively in Q1FY27.
Elysian Project Progress
neutralProject completion for Elysian T-A is 86%, T-B is 78%, T-C is 57%, and T-D is 47% as of June 30, 2026.
Forestville Project Progress
neutralProject completion for Forestville T-B is 56%, T-C is 55%, and T-A is yet to reach threshold as of June 30, 2026.
Sky City Project Progress
neutralProject completion for Sky City T-F is 92%, T-G is 76%, and T-H is yet to reach threshold as of June 30, 2026.
High Commercial Occupancy
positiveCommercial properties maintained a high occupancy rate of 98% in Q1FY27, contributing to stable rental income.
Brand Recognition
positiveOberoi Mall and Sky City Mall received 'Most Admired Shopping Centre' awards at MAPIC India Awards 2026.
Decline in New Residential Sales
negativeResidential area booked and gross booking value saw significant YoY declines in Q1FY27, indicating weaker new sales.
Increased Net Debt
negativeNet debt to equity ratio increased to 0.04 in Q1FY27 from 0.01 in Q1FY26.
Residential Sales Momentum
negativeThe substantial YoY decline in area booked and gross booking value for residential projects poses a risk to future revenue and cash flow.
Project Execution and Delivery
neutralSeveral large projects (Elysian, Jardin, Forestville, Sky City, Oceanic) are still under various stages of completion, carrying inherent execution risks.
Borrowing Costs
negativeAn increase in net debt to equity could expose the company to higher finance costs, impacting profitability.
Management accountability
What management said, and what results must prove
Management accountability
What management said, and what results must prove
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
YoY comparison is crucial for real estate due to project-based revenue recognition and seasonality. QoQ provides insight into sequential momentum for bookings, collections, and operational performance of investment properties.
Residential Area Booked
negativeArea booked in Q1FY27 was 2,28,510 sqft, a decrease of 32.5% compared to 3,38,339 sqft in Q1FY26.
Gross Booking Value (GBV)
negativeGross Booking Value for Q1FY27 was Rs. 1,04,988 Lakh, down 26.3% from Rs. 1,42,503 Lakh in Q1FY26.
Collections
neutralAmount collected in Q1FY27 was Rs. 92,140 Lakh, a slight increase of 0.2% from Rs. 91,968 Lakh in Q1FY26.
Revenue Recognized (Projects)
positiveRevenue from Projects in Q1FY27 was Rs. 87,958 Lakh, up 38.9% from Rs. 63,320 Lakh in Q1FY26.
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Residential Area Booked (sqft) | 2,28,510 (Q1FY27) | Sequential and YoY growth in new bookings to confirm demand and pipeline replenishment. |
| Gross Booking Value (Rs. Lakh) | 1,04,988 (Q1FY27) | Improvement in booking value to offset the Q1FY27 decline and support future revenue recognition. |
| Net Debt to Equity | 0.04 (Q1FY27) | Stabilization or reduction in net debt to equity to manage financial leverage and costs. |
| Project Completion Status | Varies by tower/project (e.g., Elysian T-A 86%, Jardin 'yet to reach threshold') | Timely progress and completion of ongoing development properties to ensure revenue recognition and cash inflows. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trend score and candlestick chart
73Bullishfull bull SMA stack · SMA20 +1.1% / mo · MACD − · near 52W high
Technical chart
OBEROIRLTYdaily · 1Y · AUTO+26.6%Daily technical trend read
Mixed signalsSignals are conflicting — long-term uptrend intact. RSI 53. Wait for confirmation.
- Price > SMA20 > SMA50 > SMA200 — full bullish stack.
- SMA20 rising (~1.1% over last month) — short-term momentum positive.
- RSI(14) at 53 — sideways, no extreme reading.
- MACD below signal, histogram expanding negatively — bearish momentum building.
- 6% off 52W high · 35% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Relative Strength & Trend Stage
- Price is 11.3% above the 30-week proxy.
- The 50-DMA is above the 30-week proxy and its slope is rising +2.6%.
- Both 3-month and 6-month returns are positive.
Valuation & score drivers
U-Score 54 · FAIR VALUE · pillar breakdown, sector model, fair-value anchor
Valuation & score drivers
U-Score 54 · FAIR VALUE · pillar breakdown, sector model, fair-value anchor
Fundamental score breakdown
FAIR VALUEWhy this score?
Top U-Score contributors and drags from the latest stored fundamentals.
Positive drivers
- Piotroski is strong at 8/9.
- Fair-value margin of safety is positive at 27.5%.
- Balance sheet contributes 10/15 to the score.
Main drags
- Valuation is weaker at 7/30; verify the latest quarterly trend.
- Cash flow is weaker at 5/10; verify the latest quarterly trend.
- Quality is weaker at 11/20; verify the latest quarterly trend.
Real estate valuation: NAV, pre-sales, debt, and inventory quality
Real estate valuation depends more on project economics and balance sheet than simple PE.
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Score history
12 stored score snapshots. Latest stored move: +0 points.
Factor attribution
Modelled fair value
Trust score
Does management behaviour match later outcomes? Claim delivery, forensic breakdown, evidence depth
Trust score
Does management behaviour match later outcomes? Claim delivery, forensic breakdown, evidence depth
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Healthy Trust: Claim history is still being built. It ranks around the 88th percentile of the scored universe and 97th percentile within Real Estate. No major sub-score weakness stands out.
High Trust Lite: Promoter holding is 67.7%. Key concern: 2 older quarters in the 8-quarter window had PAT decline worse than 25% YoY.
Generally investable credibility. Look for weak sub-scores before increasing position size.
overall median 67 · Real Estate: 97th pctile, median 61 · Mid: 68th pctile, median 76
49 documents have extracted text, but claim history is not strong enough yet.
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Healthy Trust · low confidenceRead Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Trust positives
- ▸Promoter holding is 67.7%.
- ▸Promoter pledge is zero.
- ▸FCF yield is positive at 1.3%.
- ▸5 years of positive FCF.
Trust risks
- ▸2 older quarters in the 8-quarter window had PAT decline worse than 25% YoY.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Financials
Full fundamentals table and 10-year revenue / profit / ROE history
Financials
Full fundamentals table and 10-year revenue / profit / ROE history
Fundamentals
Valuation
- P/E
- 25.80
- P/B
- 3.81
- EV/EBITDA
- 19.22
- Market Cap
- 68197.00Cr
Profitability
- ROE
- 14.60%
- ROCE
- 17.30%
- ROA
- 10.38%
- Dividend Y
- 0.43%
Growth (CAGR)
- Revenue 5Y
- 24.00%
- EPS 5Y
- 27.00%
- Revenue 3Y
- 13.00%
- EPS 3Y
- 9.00%
Balance Sheet
- Debt/Equity
- 0.16
- Interest Coverage
- 16.33×
- Altman Z
- 7.46
- Book Value
- 493.00
Cash Flow
- FCF Yield
- 1.34%
- FCF Positive Y
- 5/5
- OCF
- 1380.00 Cr
- EPS TTM
- 72.32
Shareholding
- Promoter Hold
- 67.71%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 82%
Financial History
Updated 5/9/2026
Revenue
₹ CrNet Profit
₹ CrReturn on Equity
%Peers
Business-comparable names in Real Estate, ranked by similarity
Peers
Business-comparable names in Real Estate, ranked by similarity
Peers
Business-comparable peers in Real Estate — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.