Oberoi Realty to Collaboratively Develop 12,790 Sq Meters of Land in Mumbai.

Oberoi Realty has signed a development agreement for the redevelopment of approximately 12,790 square meters of land in Adarsh Nagar, Worli, Mumbai. This land is leased to the Maharashtra Housing and Area Development Authority (MHADA) and currently hosts seven buildings with a total of 504 flats. The company anticipates generating around 6.24 lakh square feet of free sale area from the project.

Sales bookings for Oberoi Realty dropped by 53 per cent to Rs 4,007 crore in the last financial year, compared to Rs 8,572 crore in 2022-23 and Rs 3,889 crore in 2021-22. During the 2023-24 fiscal year, the company sold 705 units for Rs 4,007 crore.