Oberoi Realty Secures 14.816 Acres for NCR Luxury Residences

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    Oberoi Realty, a prominent player in the real estate sector, has recently finalized an agreement for the acquisition of approximately 14.816 acres of prime land in Gurugram’s Sector 58. This move, involving Ireo Residences Company and other stakeholders, signifies Oberoi Realty’s strategic expansion into the National Capital Region (NCR).

    Transaction Details

    The land, spanning 59,956.20 square meters, comes at a significant cost of Rs. 597 crore, structured with event/time-linked monetary considerations. Noteworthy is the allocation of a specific area within the project for existing homeowners and other stakeholders, demonstrating Oberoi Realty’s commitment to inclusivity and community-oriented development.

    Project Potential and Entitlement

    Oberoi Realty anticipates substantial returns from this venture, with an estimated Floor Area Ratio (FAR) of up to ~2.6 million square feet. This underscores the ambitious scale of the real estate development envisaged for this prime location.

    Luxury Residential Development

    The primary objective of this Gurugram venture is the development of a high-end residential group housing project, aligning with Oberoi Realty’s reputation for delivering quality developments. This foray into the NCR market reflects not only geographic expansion but also a commitment to meeting the sophisticated preferences of the region’s homebuyers.

    Financial Strength and Position

    As of September 30, 2023, Oberoi Realty boasts a net worth of Rs. 12,842.11 crore, showcasing financial robustness. The commendable debt-equity ratio of 0.26 and a current liability ratio of 0.45 indicate sound financial management. Additionally, total debts to total assets at 0.18, operating margin at 52.42%, and net profit margin at 36.72% further underscore the company’s financial strength.

    Conclusion

    Oberoi Realty’s recent strategic move signifies not only a milestone in its expansion strategy but also a significant entry into the vibrant real estate market of the NCR. The acquisition of prime land in Gurugram sets the stage for a transformative residential development that is poised to redefine the standards of upscale living in the National Capital Region.

    Also Read: Oberoi Realty’s Land Development Project Promises a New Era in Tardeo, Mumbai

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