Real estate firm Oberoi Realty Ltd announced on March 16, 2026 that it has entered into a development agreement for land located at Aram Nagar, Versova, Andheri West in Mumbai, owned by the Maharashtra Housing and Area Development Authority (MHADA). According to reports from CNBC TV18, the project will be developed in accordance with the Development Control and Promotion Regulations for Greater Mumbai, 2034. Based on current provisions, the company expects its share of the free-sale component from the project land to be approximately 17.18 lakh square feet in RERA carpet area. The development is projected to yield approximately 17.18 lakh square feet of free sale component for the company, with this projection explicitly excluding the company's share related to the rehabilitation component designated for existing tenants.
The company reported steady performance in Q3FY26, with net profit inching up 0.7% to ₹622.6 crore, supported by a 5.8% rise in revenue to ₹1,492.6 crore. As reported by CNBC TV18, while earnings before interest, taxes, depreciation and amortisation (EBITDA) held steady at ₹856 crore, margins narrowed to 57.4% from 60.7% a year ago, reflecting higher costs and operational pressures during the quarter.
At a board meeting on January 19, 2026, the company declared its third interim dividend for FY25-26 at ₹2 per equity share, equivalent to 20% of the face value of ₹10 per share. According to CNBC TV18, January 23, 2026, has been fixed as the record date for the dividend, which will be paid on or before February 5, 2026. The company also noted the impact of the new labour codes implemented by the Government of India, including the Code on Wages, 2019, effective from November 21, 2025.
The execution of the development on the Project Land is subject to receiving all requisite statutory approvals and compliance with applicable regulations. The estimated free-sale component excludes Oberoi Realty's share of the rehabilitation component meant for existing tenants at the site, as reported by CNBC TV18. Shares of Oberoi Realty Ltd ended at ₹1,413.20, down by ₹39.45, or 2.72%, on the BSE following the announcement.
