Oberoi Realty (OBER IN) – Q2FY27 Result Update – Strong quarter aided by 360 North – Upgrade to ‘BUY’
Published on 21 Oct 2026
Oberoi Realty Ltd (OBER) reported sharp growth in pre-sales driven by a robust response to its newly launched Gurugram project. We foresee ~25% pre-sales CAGR over FY26-28E aided by successful new launches including last phase in 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. Given recent correction in stock price we upgrade stock to ‘BUY’ from ‘Accumulate’ with DCF based NAV SOTP of INR2,100/share.
