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Nomura Reaffirms Buy on Oberoi Realty with Rs 2,090 Target
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Moneycontrol•19-10-2026, 15:26
Nomura Reaffirms Buy on Oberoi Realty with Rs 2,090 Target
- •Nomura maintains a 'Buy' rating on Oberoi Realty with a target price of Rs 2,090 following stellar pre-sales performance.
- •The real estate developer reported impressive pre-sales of approximately Rs 91.5 billion in the second quarter of FY27, beating estimates.
- •Pre-sales were significantly boosted by the 360 North project in Gurugram, which recorded Rs 78.9 billion with 614 units sold.
- •Rental revenue saw an increase of about 17% year-on-year to reach Rs 3.38 billion, driven largely by growth at the Sky City mall.
- •Collections witnessed a notable jump of 40% year-on-year, totaling Rs 18.9 billion for the quarter.
Key Questions Answered
Nomura maintains a 'Buy' rating on Oberoi Realty with a target price of Rs 2,090 after the company reported strong pre-sales that beat brokerage estimates.
Oberoi Realty reported pre-sales of around Rs 91.5 billion in the second quarter of FY27, which was up 604% year-on-year and ahead of Nomura's estimate of Rs 87 billion.
Rental revenue increased by approximately 17% year-on-year to Rs 3.38 billion in the second quarter of FY27, driven primarily by a ramp-up in rentals from the Sky City mall where revenue grew 42% year-on-year.
