Oberoi Realty Wins Rs 5,400 Cr Prime Bandra Land Deal

REAL-ESTATE
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AuthorAnanya Iyer|Published at:
Oberoi Realty Wins Rs 5,400 Cr Prime Bandra Land Deal
Overview

Oberoi Realty Limited has emerged as the highest bidder for an 11-acre land parcel in Bandra East, Mumbai, with a bid of Rs 5,400 crore. The 99-year lease acquisition near the Western Express Highway offers significant development potential, marking a strategic expansion for the real estate major in a prime urban corridor.

Oberoi Realty Limited has aggressively expanded its Mumbai footprint, securing an 11-acre prime land parcel in Bandra East for Rs 5,400 crore. The winning bid, submitted to the Railway Land Development Authority (RLDA), grants the company a 99-year lease for the strategically located site adjacent to the Western Express Highway. This acquisition unlocks substantial development potential, with an estimated 19.50 lakh square feet of Floor Space Index (FSI) available for future projects. The deal represents a significant strategic move for Oberoi Realty, reinforcing its presence in one of Mumbai's most sought-after urban corridors and signaling confidence in the region's continued growth prospects. The company anticipates further procedural steps before the lease is formally finalized by the RLDA.

Financial Strength Bolsters Ambitious Growth

The substantial bid is underpinned by Oberoi Realty's robust financial performance, as demonstrated in its third quarter and nine-month fiscal year 2026 results. The company reported a Q3 revenue surge to Rs 1,561.74 crore, contributing to a nine-month total of Rs 4,480.56 crore. Profitability remained strong, with a cumulative Profit After Tax of Rs 1,802.96 crore and an EBITDA of Rs 2,619.22 crore for the nine-month period. This fiscal health stems from resilient luxury residential sales and consistent leasing activity across its commercial and retail assets, further enhanced by strong footfalls at its retail properties. Industry accolades, such as Sky City Mall being named "Global Retail Project of the Year," highlight the company's operational excellence and sustained momentum across its diverse real estate portfolio.
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