Oberoi Realty Q4FY26: Profit up 62% on 52% sales

Key takeaway from Q4FY26 results

Oberoi Realty reported a strong March-quarter performance for FY26, supported by higher revenue and a sharp rise in bookings. Net profit for Q4FY26 rose 62.35% year-on-year (YoY) to Rs 703.28 crore, while revenue from operations increased 52.14% YoY to Rs 1,749.83 crore. The company also announced board approvals that matter to investors, including a plan to raise up to Rs 4,000 crore through non-convertible debentures (NCDs) and a fourth interim dividend of Rs 2 per share for FY26.

The results were disclosed alongside a regulatory filing referenced in the report. Separately, the filing also provided consolidated financial metrics for the quarter and full year, which show slightly different top-line and profit figures versus the “revenue from operations” numbers cited in the same coverage.

Profit beats Bloomberg estimates

The reported Q4FY26 profit of Rs 703.28 crore came in above the Bloomberg analysts’ poll estimate of Rs 649.73 crore. Revenue from operations of Rs 1,749.83 crore also exceeded the estimate of Rs 1,661.82 crore. The surprise versus consensus was driven by the scale of YoY revenue growth in the quarter.

On a sequential basis, the company’s quarterly revenue grew 17.23%, while profit increased 12.95%. The report did not provide the absolute Q3FY26 revenue and profit figures alongside these sequential growth rates, but the quarter-on-quarter expansion indicates stronger execution and recognition of income during the January to March period.

Expenses rise, led by project-related costs

Total expenses in Q4FY26 stood at Rs 849.76 crore, up 33.52% YoY. The increase was attributed to a 33.12% rise in land, development rights, construction, and other costs. This cost line is a key driver for real estate developers, and the quarter’s margin performance needs to be read alongside the sharp jump in revenue.

The report did not provide a detailed breakdown beyond the project cost category, but the numbers show expenses grew slower than revenue in the quarter, supporting the YoY improvement in profit.

Bookings momentum strengthened in Q4

Oberoi Realty earlier reported gross bookings of Rs 1,673 crore for Q4FY26, representing 96.13% YoY growth. In volume terms, it received bookings for 229 units, up from 78 in Q4FY25. The carpet area booked during Q4FY26 was 357,552 square feet, up 160.37% YoY.

The additional booking disclosure also cited quarter-on-quarter improvement: booking value increased 100% from Rs 836 crore in Q3FY26 to Rs 1,673 crore in Q4FY26. Carpet area booked in Q4FY26 was stated at 3.57 lakh square feet compared with 1.86 lakh square feet in Q3FY26.

FY26 performance: growth in profit and booking value

For the full year, the report cited revenue growth of 13.67% YoY to Rs 6,009.06 crore and profit of Rs 2,507.43 crore, up 12.66% YoY. FY26 bookings were Rs 5,447 crore, up 3.14% YoY.

However, volume indicators weakened for the year. The number of units booked in FY26 declined 24.86% YoY to 698, while carpet area booked fell 10.61% YoY to 1,147,557 square feet. Another excerpt in the provided material also stated that annual units booked fell to 698 in FY26 from 929 in FY25.

Consolidated filing metrics show slightly different totals

The regulatory filing-based section reported consolidated revenue of Rs 6,304.27 crore for FY26 compared with Rs 5,474.17 crore in FY25. For Q4FY26, it reported revenue of Rs 1,823.71 crore versus Rs 1,213.33 crore in Q4FY25.

It also reported EBITDA of Rs 3,653.36 crore for FY26 (FY25: Rs 3,290.95 crore) and Q4FY26 EBITDA of Rs 1,034.14 crore (Q4FY25: Rs 681.26 crore). Profit before tax (PBT) was Rs 3,275.61 crore for FY26 (FY25: Rs 2,944.89 crore) and Rs 962.94 crore for Q4FY26 (Q4FY25: Rs 577.10 crore). Profit after tax (PAT) was reported at Rs 2,507.64 crore for FY26 (FY25: Rs 2,224.05 crore) and Rs 704.68 crore for Q4FY26 (Q4FY25: Rs 432.50 crore).

Fundraising via NCDs and interim dividend

The board approved raising funds of up to Rs 4,000 crore through issuance of NCDs on a private placement basis. The report did not specify timing, coupon, or tenure.

The board also declared a fourth interim dividend for FY26 at Rs 2 per equity share. This dividend was stated as 20% of the face value of equity shares of Rs 10 each.

Developments and outlook comments cited in coverage

As per an ICICI Direct Research note dated April 21 (as cited), the company “showcased a strong Q4FY26” despite the absence of project launches due to delays. The note added that during FY26 the company secured three project developments across Southern and Western Mumbai, and a land parcel near Bandra Railway station.

The material also stated that in the first week of April 2026, Oberoi Realty signed a development agreement for redevelopment of a 1,740 sq m land parcel in Malabar Hill, South Mumbai. Separately, it noted that in February 2025, the company emerged as the highest bidder with a Rs 5,400 crore quote for the lease of 11 acres in Bandra East.

Stock close and what investors track next

Oberoi Realty shares closed at Rs 1,703.85 on the BSE on Friday (May 8), as per the report. With Q4 numbers showing strong YoY growth and FY26 booking value slightly higher despite lower volumes, investors typically track project launches, execution pace, and funding plans for the next phase.

Summary table of key disclosed metrics

Conclusion

Oberoi Realty’s Q4FY26 performance combined higher revenue, controlled expense growth versus the top line, and a sharp rise in quarterly bookings. Alongside the financials, the company’s board approved a potential Rs 4,000 crore NCD fundraising and declared a Rs 2 interim dividend for FY26. The next key signposts, based on the items cited in the coverage, are progress on development agreements and the pace of upcoming project launches referenced by the research note.