Below is quote on Oberoi realty results and outlook by Mr. Yash Gupta, Equity Research Associate, Angel Broking Ltd
Oberoi realty has reported numbers in line with market expectations. Cash flow has improved significantly in Q1FY2022 after the hit in FY2021. Revenue from residential real-estate business has jumped 4x due to low base in Q1FY21. We have seen good demand in the residential sector but the commercial sector is still not showing any sign of recovery. The hospitality business has reported a negative EBITDA of Rs 2.28 crores due to the state-wise covid 19 lockdown in the MMR region. We expect residential demand to be strong for FY2022 and are expecting some recovery on the commercial side in H2FY2022. We have a positive outlook for Oberoi Realty.
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