Earnings before interest, tax, depreciation and amortisation plunged 47.4 percent to Rs 90 crore and operating profit margin slipped 690 basis points to 52.7 percent compared to same quarter last year.
Mumbai-based Oberoi Realty 's third quarter consolidated net profit halved to Rs 68 crore from Rs 134.5 crore year-on-year, dented by lower revenues.
"Domestic and global economic headwinds continue to be challenging," Vikas Oberoi, CMD said.
Consolidated total income dropped 40.4 percent to Rs 170.5 crore from Rs 286.1 crore during the same period.
Earnings before interest, tax, depreciation and amortisation plunged 47.4 percent to Rs 90 crore and operating profit margin slipped 690 basis points to 52.7 percent compared to same quarter last year.
Meanwhile, the private forest issue relating to the Mulund property has been resolved in favour of the company by the order dated January 30 of the Supreme Court.
"This is a great positive for Oberoi Realty," Vikas said.
Analysts believe the project, worth 3.3 million square feet, is likely to add Rs 5000 crore to the company's topline.
Morgan Stanley on Thursday said the project should contribute nearly Rs 1,200 crore or nearly Rs 39 per share to Oberoi's net asset value ( NAV ).
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