Oberoi Realty (OBER IN) – Q4FY26 Result Update – Strong launch pipeline – Accumulate
Published on 12 May 2026
Oberoi Realty Ltd (OBER) reported robust pre-sales growth of 96% YoY, along with 21% YoY collection growth in Q4FY26. OBER has demonstrated healthy growth momentum in pre-sales with ~9% CAGR over FY22-26, fuelled by successful new launches, rapid inventory absorption, and strong demand across the MMR market. We foresee 24% pre-sales CAGR over FY26-28E aided by new launches across Gurugram, Thane, Tardeo and Worli, and sustenance sales from their existing projects. Further, we expect annuity income to remain steady at Rs13-14bn, providing strong cash flow visibility. We retain our ‘Accumulate’ rating and DCF-derived NAV with SOTP-based TP of Rs1,820/share, implying 11% upside from current levels
