Oberoi Realty enters Q1 FY27 results following a high-profile launch of its ultra-luxury Three Sixty North project in Gurugram, which secured Rs. 8,109 Cr in gross bookings. Investors will be focused on how this expansion balances against a recent Punjab & Haryana High Court order restricting fresh allotments in the project and the impact of rising construction costs on margin trajectory.
| Results date | July 17, 2026 |
|---|---|
| Quarter | Q1 FY 2026-2027 |
| Previous quarter revenue | Rs. 1,749.83 Cr |
| Previous quarter PAT | Rs. 703.28 Cr |
| Previous quarter EBITDA margin | 60.07% |
| Net debt (latest quarter) | Rs. (153) Cr |
| Market cap | Rs. 69,986.16 Cr |
| CMP | Rs. 1924.8 |
The company has scheduled a board meeting for July 17, 2026, to consider the audited financial results and recommend dividend for FY2026-2027.
The company enters the quarter with a robust balance sheet, reporting a net cash position of Rs. 153 Cr as of March 31, 2026, and strong operating cash flow of Rs. 1,380 Cr for FY26. While the Three Sixty North project achieved Rs. 8,109 Cr in gross bookings, management must navigate a July 7, 2026, court order that restricts fresh allotments until a DTCP decision, expected by July 20, 2026. Construction costs remain a focal point, as LME aluminium prices surged to over $3,600/mt in late May, potentially pressuring the 60.07% adjusted operating margin reported in FY26. The upcoming call will likely clarify the status of the Adarsh Nagar launch, which was targeted for Q1 FY27, and provide updates on the utilization of the Rs. 10,000 Cr fundraising plan approved by shareholders.
Three Sixty North (Gurugram) regulatory status: The project faces a legal hurdle following a July 7, 2026, court order.
Performance vs Guidance Tracking: Tracking management's stated project timelines and growth targets.
Strategic execution and fundraising: Progress on capital allocation and new project development.
The project was launched on June 29, 2026, meaning only two days of bookings contribute to the Q1 FY27 results. While the project achieved gross bookings of Rs. 8,109 Cr, the bulk of this will be reflected in subsequent quarters.
Management noted in FY26 that construction costs for items like energy and materials increased by 2–3%, which were absorbed by built-in contingencies. Investors will watch if multi-year highs in aluminium prices during Q1 FY27 have further impacted these margins.
As of March 31, 2026, the company was in a net cash position of Rs. 153 Cr. This was calculated from a gross debt of Rs. 2,816 Cr offset by cash and investments totaling Rs. 2,970 Cr.
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