Oberoi Realty (OBER IN) – Q1FY27 Result Update – Pre-sales to pick up – ACCUMULATE
Published on 21 Jul 2026
Oberoi Realty Ltd (OBER) reported pre-sales de-growth of 36% YoY in Q1FY27. The company saw moderate growth in pre-sales with ~8% CAGR over FY22-26 to INR ~55bn. We foresee ~22% pre-sales CAGR over FY26-28E aided by successful new launches including 360 North, rapid inventory absorption from existing projects, and strong demand across the MMR market. 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 revised SOTP-based TP of INR2,100/share.
