Oberoi Realty Limited (OBEROIRLTY.NS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-57.7%

₹706.99

vs ₹1,669.80 price

Levered DCF

₹312.17

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

4.37

Safe zone

Rating

A-

Overall 4 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	20.58×	25.71×	28.37×	16.09×	32.63×	28.29×	17.5×	23.33×
P/B	2.88×	3.64×	3.95×	2.51×	3.28×	2.23×	1.4×	2.37×
P/S	8.18×	10.92×	12.2×	7.34×	12.76×	10.19×	5.39×	7.38×
EV / EBITDA	14.46×	18.31×	20.87×	14.14×	24.95×	21.47×	12.27×	16.56×
Gross margin	59.9%	64.8%	60.0%	55.3%	49.8%	56.6%	53.7%	51.7%
Operating margin	55.9%	57.5%	53.2%	49.6%	42.6%	46.7%	44.8%	43.0%
Net margin	39.8%	42.5%	43.0%	45.6%	39.1%	36.0%	30.8%	31.6%
Current ratio	8.56×	4.34×	3.89×	3.79×	3.13×	3.25×	2.87×	3.03×
Debt / equity	0.16×	0.21×	0.18×	0.32×	0.27×	0.16×	0.18×	0.2×
Interest coverage	17.46×	11.37×	10.91×	12.26×	13.28×	12.62×	11.34×	57.42×
Dividend yield	0.6%	0.6%	0.5%	0.4%	0.0%	0.0%	0.7%	0.4%
Payout ratio	11.6%	16.3%	15.1%	5.7%	0.0%	0.0%	12.7%	10.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	14.0%	14.2%	13.9%	15.6%	10.1%	7.9%	8.0%	10.2%
Return on invested capital	10.6%	11.6%	11.1%	10.8%	6.5%	6.9%	6.9%	7.9%
Return on assets	9.9%	9.8%	9.8%	10.2%	6.7%	6.1%	6.1%	7.3%
Free cash flow yield	1.2%	2.6%	3.9%	-9.7%	-0.4%	-3.0%	-4.2%	-0.1%
Earnings yield	4.9%	3.9%	3.5%	6.2%	3.1%	3.5%	5.7%	4.3%
Enterprise value	₹527.2B	₹602.6B	₹568.4B	₹343.9B	₹369B	₹223.7B	₹135.3B	₹205.5B
Net debt / EBITDA	0.31×	0.92×	0.8×	1.54×	1.85×	1.4×	1.33×	1.2×
Cash conversion cycle (days)	-18	1,863	1,855	1,875	1,572	2,009	1,959	1,233