So, Oberoi Realty ne jo Q3 FY26 ke numbers diye hain na, woh investors ko thoda shock kar gaye. Company ki pre-sales mein achanak se 56% ka bada drop aaya hai, matlab sirf ₹8.4 billion kama paye. Pichhle saal isi time pe ₹18.6 billion ki sales thi. Aur booking volumes toh aur bhi buri tarah se gire hain, 72% neeche aa gaye, sirf 0.19 million square feet ke bookings hue. Analyst log toh ye numbers dekh ke dang reh gaye.
Haan, thoda relief yeh hai ki jo bookings aayi hain, woh mostly unke fancy projects jaise Elysian aur Eternia se aayi hain, lagbhag 63% bookings se. Lekin overall nine months ki baat karein toh bhi sales 14% neeche hai, ₹37.7 billion pe atki hui hai. Aur 3QFY26 mein total units booked woh bhi 77% kam ho gaye, sirf 130 units.
Ab brokerage firms kya soch rahi hain? Motilal Oswal ne stock ko 'Neutral' rakha hai aur target price diya hai ₹1,723 per share. Woh maante hain ki company ke paas ₹278 billion ka residential portfolio hai aur future mein land bhi buy karne ka plan hai, jiske liye ₹30 billion alag rakhe hain. Lekin abhi jo sales ka scene hai, woh thoda tense hai.
Aur competitors ko dekho toh DLF, Prestige Estates, Godrej Properties sab positive growth dikha rahe the. Oberoi Realty ka yeh drop thoda alag lag raha hai. Company ki market cap ab ₹60,000 crore ke aas paas hai aur stock ₹1650 ke level pe trade ho raha hai, P/E ratio 45x hai.
Motilal Oswal ke according, company ka total NAV ₹626 billion hai, jo ₹1,723 per share nikalta hai. Toh bhai, long term mein toh assets acche hain, par short term mein sales ka pressure toh hai hi. Dekhna hoga company aage kaise perform karti hai aur apne expansion plans ko kaise execute karti hai.