Oberoi Realty is accelerating its focus on business development through strategic land acquisitions in Mumbai. According to reports from Live Mint, the company entered into a development agreement with Maharashtra Housing and Area Development Authority (MHADA) for redevelopment of Aram Nagar in Andheri West. The project's free sale component is expected to be 1.72 million square feet in RERA carpet area, with the project commanding ₹50,000-55,000 per square foot. This translates to a gross development value of ₹9,000-10,000 crore, as estimated by JM Financial Institutional Securities. The company's latest retail expansion includes welcoming Frido to Sky City Mall as they open their first exclusive store in Mumbai, strengthening the mall's position as one of the fastest-growing lifestyle destinations in the western suburbs.
Last month, Oberoi emerged as the highest bidder for Railway Land Development Authority's over 11.21-acre prime land parcel in Mumbai's Bandra with a ₹5,400 crore bid. As reported by Live Mint, in Q3FY26, the company inked an agreement to redevelop land at Nepean Sea Road with a potential free sale component of 1.18 lakh square feet carpet area. These acquisitions demonstrate the company's balance sheet comfort and provide medium-term growth visibility through strategic land holdings.
Pre-sales or bookings in the March quarter (Q4FY26) could see only a marginal sequential uptick due to slower launches. According to Antique Stock Broking report dated March 10, in 9MFY26, Oberoi's pre-sales rose 15% year-on-year to ₹3,770 crore, largely led by sales in existing projects. The company launched only one new tower, Elysian Tower D (Goregaon), in this span despite a strong project pipeline. As per Oberoi's Q3FY26 commentary, the delay in new launches was not due to demand slowdown or regulatory challenges, with micro-markets of Goregaon and Borivali seeing price increases.
Oberoi would exit FY26 with flat pre-sales growth, at around ₹5,300 crore versus ₹5,280 crore in FY25, according to Antique Stock Broking. The company's maiden project launch in Gurugram and other projects such as Adarsh Nagar, Pedder Road and Elysian last tower could be unveiled in FY27, giving pre-sales a significant boost. The stock's performance has been unimpressive, down 14% in CY26 so far. Worries around slowdown in housing sales and affordability concerns in Mumbai Metropolitan Region and Gurugram have soured investor sentiment for realty companies, including Oberoi.
