News: Oberoi Realty, in its operational update reported sales volume of 5,24,291 sq ft area during Q4FY22, down ~51% YoY with total booking value of Rs 922 crore. Additionally, booking value in FY22 was at Rs 3,886 crore (up ~18.5% YoY)
Views: We note that while volumes, prima facie, are lower than 1.06 mn sq feet in Q4FY21, it is mainly due to launch of Elysian Tower in base quarter (Q4FY21), which had strong uptake and drove 50% of sales volume. Ex- new launches, sales volumes are similar to sustenance sales achieved. Going ahead, Thane launch will be key volume growth driver
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