Oberoi Realty (OBER IN) – Management Meet Update – Growth to accelerate – Accumulate
Published on 02 Jul 2026
Oberoi Realty Ltd (OBER) saw moderate growth in pre-sales with ~8% CAGR over FY22-26 to INR ~55bn. We foresee ~22% pre-sales CAGR over FY26-28E fueled by successful new launches, rapid inventory absorption from existing projects, and strong demand across the MMR market. We expect strong response for recently launched 360 North project in Gurugram with likely +30-35bn of pre-sales from this project in FY27. Further, we expect annuity income to remain steady at INR13-14bn by FY28E, providing strong cash flow visibility. We retain our ‘Accumulate’ rating and DCF-derived NAV with SOTP-based TP of INR1,920/share.
