Oberoi Realty Q1 profit climbs 29% as FY27 presales forecast hits ₹34,000 crore

Quarterly profit rises as FY27 sales forecast comes into focus

Oberoi Realty reported consolidated net profit of ₹543.51 crore for the quarter ended June 30, 2026, a 29.02% increase from ₹421.25 crore in the same quarter a year earlier. Revenue from operations grew 31.72% year on year to ₹1,300.89 crore, compared with ₹987.55 crore in Q1 FY26.

The results, announced by the Mumbai-based developer, came alongside a forecast for its full-year sales pipeline. Morgan Stanley estimated Oberoi Realty’s FY27 presales at ₹34,000 crore, with a planned Gurugram launch, Hamilton, accounting for an estimated ₹8,000–9,000 crore of potential sales. The forecast places the company second among five developers tracked by the investment bank.

Quarterly performance and Gurugram project figures

Q1 FY27 EBITDA was ₹794.94 crore, up 31.01% from ₹606.77 crore a year earlier. Total expenses increased 14.01% to ₹654.17 crore, with land, development-rights, construction and other costs rising by more than 50%. The quarter’s profit and revenue were below Bloomberg analysts’ estimates; the revenue estimate was ₹1,715.25 crore.

Oberoi Realty’s residential activity in Gurugram includes Oberoi Three Sixty North, a luxury development on Golf Course Extension Road. Its first phase covers 14.8 acres and comprises 832 apartments across six towers. Bookings for the phase were approximately ₹8,109 crore, across 23.10 lakh square feet of saleable area and 13.52 lakh square feet of RERA carpet area. The reported base selling price was ₹35,000 per square foot, with apartment prices starting at ₹18 crore.

• Three Sixty North first-phase bookings: approximately ₹8,109 crore.
• First-phase scale: 832 apartments in six towers on 14.8 acres.
• Hamilton’s estimated sales potential: ₹8,000–9,000 crore.

Morgan Stanley’s estimate for Hamilton is a potential contribution to FY27 presales, rather than a reported sales figure. The investment bank also estimated that Oberoi Realty’s earlier Gurugram launch generated ₹8,100 crore in presales. Separately, reported first-phase bookings at Three Sixty North were approximately ₹8,109 crore.

Margin figures reported for the quarter use different measures. One account put operating margin at 56%, compared with 57% in Q1 FY26, while another reported EBITDA margin of 56.4%, up 370 basis points year on year. These figures describe different measures and are not directly interchangeable.

Golf Course Extension Road setting

Three Sixty North is located on Golf Course Extension Road in Gurugram. The project’s reported bookings provide a measure of demand for its first phase, but the figures do not establish a broader effect on local prices or housing supply. The FY27 forecast also makes the timing and sales performance of the company’s planned Gurugram pipeline relevant to its overall presales target.

Oberoi Realty’s financial scale

Oberoi Realty is a Mumbai-based real-estate developer. For FY26, it reported revenue of ₹6,009.06 crore, up 13.67% year on year, and profit of ₹2,507.43 crore, up 12.66%. Bookings for the year were ₹5,447 crore, an increase of 3.14%.

The Q1 FY27 board declared an interim dividend of ₹2 per share, equal to 20% of the ₹10 face value. The record date was July 23, 2026, with payment due on or before July 31, 2026.

Hamilton is the next identified launch

Morgan Stanley identified Hamilton as an upcoming Gurugram launch and assigned it estimated sales potential of ₹8,000–9,000 crore. Its launch date and other project particulars were not part of the reported forecast. The estimate therefore gives an indication of the scale Morgan Stanley attributes to the project, while actual FY27 presales will depend in part on the company’s launch pipeline and sales execution.

For context, Morgan Stanley’s FY27 presales estimates for the other developers in its comparison were ₹39,000 crore for Godrej Properties, ₹30,000 crore for Prestige Estates, ₹20,500 crore for Lodha Developers and ₹20,000 crore for DLF. It also described India’s residential market as healthy in July–August 2026: sales value across the six largest cities rose 7% year on year and volumes increased 2%. In the luxury segment, sales value rose 14% and volumes 13%.