Oberoi Realty emerges as the highest bidder for the RLDA Bandra land
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This strategic acquisition marks a major expansion for the developer in a high-demand urban corridor, with further procedural steps pending formal communication from the RLDA regarding the finalisation of the lease.
Oberoi Realty Limited has emerged as the highest bidder for a prime 11-acre land parcel in Bandra East, Mumbai, following a tender process conducted by the Railway Land Development Authority (RLDA). The company’s winning bid of Rs 5,400 crore secures a 99-year lease for the site, which sits adjacent to the Western Express Highway and offers a significant development potential of approximately 19.50 lakh square feet in Floor Space Index (FSI). This strategic acquisition marks a major expansion for the developer in a high-demand urban corridor, with further procedural steps pending formal communication from the RLDA regarding the finalisation of the lease.
About Oberoi Realty Limited
Oberoi Realty Ltd. is one of India’s leading Real Estate development company, headquartered in Mumbai. It is focused on premium developments in the residential, office space, retail, hospitality and social infrastructure verticals. In the real estate space, Oberoi Realty is an established brand with an impeccable track record. Its primary aim is to build aspirational developments for its customers with distinctive designs, functional aesthetics and quality finishes that translate into landmark projects through its mixed-use and single-segment developments. This mix of innovative design, planning initiatives and use of cutting-edge technologies has enabled the company to successfully deliver 51 completed projects across Mumbai, the financial capital of India.
Oberoi Realty Limited demonstrated consistent growth in its Q3 and 9M FY26 financial results, driven by strong residential demand and high-performing commercial assets. For the third quarter, revenue rose to Rs 1,561.74 crore, contributing to a nine-month total of Rs 4,480.56 crore, while profitability remained robust with a cumulative Profit After Tax of Rs 1,802.96 crore and an EBITDA of Rs 2,619.22 crore. This fiscal health is underpinned by resilient luxury residential sales and steady leasing activity in the retail sector, bolstered by high festive footfalls at Oberoi Mall and Sky City Mall. The company’s operational success was further highlighted by industry recognition, including Sky City Mall being named "Global Retail Project of the Year," signalling sustained momentum across its diverse real estate portfolio.
Disclaimer: The article is for informational purposes only and not investment advice.