The Mumbai-based real estate developer Oberoi Realty announced on Monday that it is actively seeking opportunities for expansion throughout the National Capital Region (NCR). The company is open to acquiring land parcels or entering into Joint Development Agreements (JDAs) across Delhi, Noida, and Gurugram, inviting landowners to discuss potential deals.
During the company’s September-quarter earnings call, Chairman and Managing Director Vikas Oberoi stated their willingness to consider projects everywhere, whether through outright purchase or JDAs. He expressed interest in good land parcels across Noida, Gurgaon, and Delhi.
Regarding forthcoming developments, Oberoi mentioned that some planned projects might face delays because the necessary regulatory approvals are taking longer than anticipated, although the designs are complete and awaiting clearance.
Furthermore, ground work, including excavation, has commenced on an ultra-luxury project located in Worli, Mumbai. This project is being developed as a joint venture between I-Ven Realty and the Swiss luxury hospitality group Aman Group, and Samsung has been engaged for project monitoring due to its status as a marquee project.
Concerning the Railway Land Development Authority (RLDA) project in Bandra East, Mumbai, Saumil Daru, the director of finance at Oberoi Realty, confirmed that the company is currently working on securing approvals. This development is slated to feature offices, a modest hotel, and retail areas, though the company has not yet decided whether to sell or lease the property.
Daru also provided updates on the group's hotel constructions in Borivali and Thane. He noted that the Borivali hotel is projected to finish by the end of calendar year 2027, with interior finishing already in progress. In contrast, construction on the Thane hotel has not yet begun.
Financially, the company anticipates spending over ₹1,000 crore on project construction throughout the current financial year. In its second-quarter results released on Friday, Oberoi Realty reported a consolidated net profit of ₹761.65 crore for Q2 of FY27, which was nearly flat compared to the ₹760.26 crore recorded in the same period last year, showing only a 0.2 per cent year-on-year increase.
However, the revenue generated from operations in Q2FY27 saw a decline of 6.1 per cent year-on-year, falling to ₹1,670.95 crore from ₹1,779.04 crore in the corresponding quarter of FY26.