MUMBAI: Oberoi Realty Ltd today said its order book has increased by 50 per cent to Rs 1,500 crore in FY12 as against Rs 1,000 crore in FY 11.
“Our order book has jumped by nearly 50 per cent at Rs 1,500 crore from Rs 1,000 crore in the previous year. We have managed to maintain a robust order-book which is a clear reflection of confidence that our customers have in our product and delivery capabilities,” Oberoi Realty Chairman and Managing Director Vikas Oberoi told reporters here.
“We are satisfied with our performance, which has been fairly stable in the face of challenging market environment prevailing since the last few quarters,” he said, adding the realty prices had been stable and the company sees good demand in commercial space.
“We have received strong collections through customer receipts along with stable rental income from our investment properties. Going forward, we will continue to focus on financial prudence in operations and land acquisitions.”
The company is currently acquiring land in Pune and evaluating possibilities of acquisition of land in Gurgaon, Hyderabad and Chennai. However, the company sees enough opportunities in Mumbai for realty development, Oberoi Realty Group CEO Saumil Daru said.
The firm has no plans to raise funds in near future as it has Rs 1,200-crore cash in hand as on March 2012, he said.
Commenting on future plans, Oberoi said the company plans to launch the Worli project (in Mumbai) this quarter. The property, spread over 20 lakh sq ft, will have residential and hotel components.