Oberoi Realty Q2 FY27 Results: Consolidated Net Profit ₹757 Crore on Total Income of ₹1,736 Crore
Earnings
Real Estate
Blacklitt Research3 min read
Illustrative image. Photo: Creater903a, via Wikimedia Commons (CC0)
Oberoi Realty reported consolidated total income of ₹1,736.37 crore and net profit of ₹757.41 crore for the quarter ended 30 Sep 2026. Standalone total income was ₹1,588.14 crore and net profit was ₹735.88 crore.
Key highlights
Consolidated
Including its subsidiaries
Total income: ₹1,736 crore, down 5.9% YoY, up 27.5% QoQ
Net profit: ₹757 crore, down 0.4% YoY, up 40.4% QoQ
EPS: ₹20.95, against ₹20.91 in Q2 FY26
Revenue from operations: ₹1,670.95 crore, down 6.1% YoY
Standalone
The company on its own, without its subsidiaries
Total income: ₹1,588 crore, down 1.3% YoY, up 35.9% QoQ
Net profit: ₹736 crore, up 19.1% YoY, up 45.0% QoQ
EPS: ₹20.24, against ₹17.00 in Q2 FY26
Other income: ₹133.85 crore, up 108.1% YoY
Summary
Consolidated ₹ crore
Particulars
Q2 FY27
Q2 FY26
YoY
Q1 FY27
QoQ
1,736.37
1,844.84
-5.9%
1,361.69
+27.5%
Revenue from operations
1,670.95
1,779.04
-6.1%
1,300.89
+28.4%
Other income
65.42
65.80
-0.6%
60.80
+7.6%
757.41
760.26
-0.4%
539.39
+40.4%
Finance costs
58.14
71.17
-18.3%
52.43
+10.9%
Depreciation
35.02
33.43
+4.8%
34.99
+0.1%
Tax expense
234.02
232.88
+0.5%
168.13
+39.2%
Net profit margin
43.62%
41.21%
+2.41 pp
39.61%
+4.01 pp
Tax as share of profit before tax
23.6%
23.7%
-0.12 pp
23.8%
-0.16 pp
EPS, basic (₹)
20.95
20.91
+0.2%
14.95
+40.1%
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Flat profit hides a weaker core and a bigger joint-venture contribution. Profit before the share of joint ventures was ₹744.94 crore against ₹981.49 crore a year ago, down 24%, but profit before tax was flat at ₹995.67 crore (₹993.14 crore), because the share of profit of joint ventures rose to about ₹251 crore from about ₹12 crore (derived from the filing's two profit lines). Revenue from operations fell 6.1% to ₹1,670.95 crore. Net profit of ₹757.41 crore is flat (down 0.4%); the profit attributable to the owners is ₹761.65 crore, with earnings per share of ₹20.95 against ₹20.91.
Finance costs fell 18.3% to ₹58.14 crore, which fits the ₹135 crore of Series 2 non-convertible debentures the company redeemed in the quarter, and tax took 23.6% of profit before tax, the same as a year ago. The net margin widened to 43.62% from 41.21% because the revenue base is smaller, not because costs fell.
The quarter-on-quarter and half-year figures are the fairer read. Against Q1 FY27 revenue rose 28.4% and net profit 40.4% from ₹539.39 crore, and for H1 FY27 revenue from operations is ₹2,971.84 crore against ₹2,766.59 crore (+7.4%) and net profit ₹1,305.16 crore against ₹1,181.51 crore (+10.5%). The company itself says its real estate accounting means a quarter may not be strictly comparable with earlier quarters.
Standalone ₹ crore
Particulars
Q2 FY27
Q2 FY26
YoY
Q1 FY27
QoQ
1,588.14
1,609.59
-1.3%
1,168.48
+35.9%
Revenue from operations
1,454.29
1,545.26
-5.9%
1,038.27
+40.1%
Other income
133.85
64.33
+108.1%
130.21
+2.8%
735.88
618.06
+19.1%
507.63
+45.0%
Finance costs
55.58
68.86
-19.3%
49.88
+11.4%
Depreciation
26.95
25.45
+5.9%
27.00
-0.2%
Tax expense
206.48
186.09
+11.0%
133.88
+54.2%
Net profit margin
46.34%
38.40%
+7.94 pp
43.44%
+2.89 pp
Tax as share of profit before tax
21.9%
23.1%
-1.23 pp
20.9%
+1.04 pp
EPS, basic (₹)
20.24
17.00
+19.1%
13.96
+45.0%
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Standalone profit grew even as revenue fell. Net profit rose 19.1% to ₹735.88 crore on revenue from operations down 5.9% to ₹1,454.29 crore. Other income more than doubled to ₹133.85 crore from ₹64.33 crore, finance costs fell to ₹55.58 crore from ₹68.86 crore, and the tax rate eased to 21.9% from 23.1%, so profit before tax rose about 17% (derived: net profit plus tax) and the net margin reached 46.34%.
The board declared a second interim dividend of ₹2 a share, 20% of the face value. The filing treats it in a separate disclosure; at the roughly 36.4 crore shares implied by the earnings per share (derived) it comes to about ₹73 crore, around 10% of the quarter's standalone profit.
Inference
Oberoi's quarterly profit is steady only because a large rise in the share of joint-venture profit offset a 24% fall in profit before it. The filing does not explain the fall in revenue or what drove the joint ventures' contribution.
Real estate revenue is recognised unevenly across quarters, so the half-year figures, with revenue and profit both higher, give a steadier picture than this quarter alone.
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