Mumbai-based real estate developer Oberoi Realty is open to expansion across the National Capital Region (NCR) through land purchases or joint development agreements (JDAs), chairman and managing director Vikas Oberoi said on Monday, as he invited landowners to close potential deals.
“We are open to all three – Noida, Gurgaon and Delhi, (and are) open to looking at projects everywhere, including (through) JDAs or, you know, outright. We are happy to use this medium to tell all landowners that we are interested. If they have good land parcels, we're open to doing either, buy the land or do a JV,” Oberoi said during the company’s September-quarter earnings call.
Talking about upcoming launches, Oberoi said that certain projects could be delayed on account of regulatory approvals taking longer than expected. “We are ready with our design and everything, but just waiting for certain clearances,” he said.
Oberoi added that on-ground work, including excavation, had started at the ultra-luxury project that I-Ven Realty, the company’s joint venture, is developing in partnership with Swiss luxury hospitality group Aman Group in Worli, Mumbai. The developer has hired Samsung for project monitoring, treating it as a marquee project.
On the company’s Railway Land Development Authority (RLDA) project situated in Bandra East, Mumbai, Saumil Daru, director of finance at Oberoi Realty, said that the company is in the process of getting approvals. He added that the project would include offices, a small hotel and retail space, but said that the company remains undecided on whether to sell or lease the project.
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Updating on the hotels that the group is building in Borivali and Thane, Daru added that the Borivali hotel is expected to be completed by the end of CY2027, with interior work underway. However, construction on the Thane hotel is yet to begin, he added.
Further, the company said that it expects to spend upwards of ₹1,000 crore on the construction of projects over the financial year.
In the second-quarter results released on Friday, Oberoi Realty recorded a consolidated net profit of ₹761.65 crore in the second quarter (Q2) of FY27, remaining largely flat with a rise of just 0.2 per cent year-on-year (YoY) from ₹760.26 crore in the same quarter last year.
However, the company’s revenue from operations in Q2FY27 declined 6.1 per cent YoY to ₹1,670.95 crore from ₹1,779.04 crore in the corresponding quarter of FY26.