Of the total sales booking achieved in the quarter ended December, Oberoi Realty sold 619 units in its newly-launched project 'Sky City' for Rs 1,567.15 crore
Oberoi Realty sold 645 housing units for about Rs 1,775 crore in the third quarter of this fiscal, largely in its newly-launched residential project at Borivali in Mumbai.
The Mumbai-based developer sold 645 units, covering nearly 10.24 lakh square feet, for Rs 1,774.39 crore, according to the analyst presentation.
Of the total sales booking achieved in the quarter ended December, Oberoi Realty sold 619 units in its newly-launched project 'Sky City' for Rs 1,567.15 crore.
Also read: Oberoi Realty launches multi-tower 'Sky City' residential project in Borivali
The company said it launched three towers on October 30, 2015. "619 units booked, value about Rs 1,567 crore till December 31, 2015...4th tower launched on 15th January, 2016...Work commenced at site," the presentation said.
Oberoi Realty in October had said that it expects to earn a revenue of Rs 10,000 crore from this 25-acre project comprising 10 towers of 60 storeys each.
The company's collection stood at Rs 524.49 crore during the third quarter of 2015-16 fiscal, of which about 290 crore was from Sky City project.
Also read: Swedish giant IKEA to buy land from Oberoi Realty for first city shop
Although the real estate market is facing a huge slowdown for last 2-3 years, housing sales have picked up in a few cities like Mumbai, Hyderabad and Bangalore.
Last week, Oberoi Realty reported more than two-fold jump in consolidated net profit at Rs 209.35 crore for the quarter ended December on higher sales. Its net profit stood at Rs 79.23 crore in the year-ago period.
Total income increased to Rs 790.33 crore for the October-December quarter of 2015-16 fiscal from Rs 219.6 crore in the corresponding period of the previous year, Mumbai-based developer said in a filing to the BSE.
The company has developed about 40 projects at strategic locations across the Mumbai skyline aggregating about 9.18 million sq ft. Another 20.61 million sq ft is under construction.
Oberoi Realty's share price closed at Rs 250.10 apiece on the BSE on Friday, down 2.89%. Its market cap stood at Rs 8,486 crore.
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