Latest news with #OberoiRealty
Business Standard
2 hours ago
- Business
- Business Standard
Oberoi Realty's Commercial Real Estate CEO Pankaj Gupta steps down
Oberoi Realty said that Pankaj Gupta, chief executive officer (CEO) - commercial real estate and a senior management personnel, has resigned from his position. The resignation is effective from the close of business hours on 9 June 2025, the company said in a regulatory filing. No reason was specified for his departure. Oberoi Realty is a Mumbai-based real estate development company. It is focused on premium developments in the residential, office space, retail, hospitality, and social infrastructure projects. The companys consolidated net profit tumbled 45.03% to Rs 433.17 crore on a 12.52% drop in revenue from operations to Rs 1,150.14 crore in Q4 FY25 over Q4 FY24. Shares of Oberoi Realty rose 0.73% to Rs 1,916.55 on the BSE.
Economic Times
a day ago
- Business
- Economic Times
Stocks to buy today: Bharat Forge, Trent among 5 trading ideas for Monday, June 9, 2025
Indian market is likely to trade higher on Monday, tracking positive global cues. ADVERTISEMENT The Nifty future closed positively with gains of 0.92% at 25090 levels on Friday. Indian VIX fell more than 3% to close at 14.63 in the previous trading session. On the options front, the maximum Call OI is placed at 25500 and then towards 26000 strikes, while the maximum Put OI is placed at 25000 and then towards 24800 strikes. Call writing is seen at 25500 and then towards 25600 strikes, while Put writing is seen at 25000 and then towards 24900 strikes. 'Options data suggests a broader trading range in between 24500 to 25500 zones while an immediate range between 24800 to 25200 levels,' Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said. 'On the weekly chart, the index formed a strong bullish candle and is now on the verge of a potential Pole & Flag breakout. It formed a bullish candle on the daily chart on Friday as well, continuing its sequence of higher lows for the last three sessions,' he added. ADVERTISEMENT 'Now the index has to hold above 25000 zones for an up move towards 25200, then 25400 levels, while on the downside support is seen at 24850, then 24700 zones,' recommended Taparia. Bharat Forge: Buy| Target Rs 1355| Stop Loss Rs 1266 ADVERTISEMENT Oberoi Realty: Buy| Target Rs 2020| Stop Loss Rs 1855 Manappuram Finance: Buy| Target Rs 260| Stop Loss Rs 241 ADVERTISEMENT L&T Finance (June 26 Expiry): Buy| Target Rs 200| Stop Loss Rs 185 Trent (June 26 Expiry): Buy| Target Rs 6000| Stop Loss Rs 5675 ADVERTISEMENT (Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
Hindustan Times
3 days ago
- Business
- Hindustan Times
Mumbai Apple India deal: 5 key facts about the brand's upcoming 12,616 sq ft store in Borivali
Borivali, a locality in Mumbai's western suburbs, has welcomed a high-profile new tenant, the Apple Store at Sky City Mall, developed by listed real estate firm Oberoi Realty. Over the past decade, Borivali has transformed into a premium retail hub, say real estate experts. In addition to the newly opened Sky City Mall (launched in March 2025), the area boasts at least three prominent retail high streets that attract leading global and domestic brands. With this growing commercial presence, 'Brand Borivali' is fast emerging as a strong contender to established retail destinations like Andheri, Bandra, and even South Mumbai. Apple India has leased 12,616 sq ft retail space in Mumbai's Borivali suburb for ₹17.35 lakh monthly rent as it prepares to launch its second store in Maharashtra and fourth in the country, according to documents accessed by real estate data analytics firm Propstack. The lease transaction registered on May 28, 2025, is for a total period of 130 months (nearly 11 years), with a rent escalation of 15% every three years. Apple has also paid a security deposit of ₹1.04 crore as part of the deal. The document showed that the lease has a lock-in period of 10 years and 10 months, effective from the commencement date. Also Read: Apple India leases 8000 sq ft of retail space in Bengaluru for ₹2 crore annual rent as Foxconn facility nears completion The lease agreement signed between Apple India and Oberoi Realty shows that the per sq ft rental for the Apple Store is over ₹137 per sq ft. However, experts opine that the rentals in Sky City Mall are up to ₹1,000 per sq ft. The lower rental in this case is due to revenue sharing between Apple India and Oberoi Realty. The agreement shows that above the per-month rental amount, Apple India will share revenue of 2% with Oberoi Realty for up to 42 months and 2.5% thereafter, starting from the 43rd month. Vikas Oberoi, CMD of Oberoi Realty, said during the company's Q4FY25 meeting in April 2025 that the per-square-foot rental in Sky City Mall is between ₹400 and ₹1,000. The per sq ft rental is different in Sky City Mall for different sizes, depending on the floor. "We have rentals up to ₹1,000 a sq ft on carpet area. So, between ₹400 and ₹1,000, it's something like that. So, it all depends on who is coming in. We have got a very nice gold souk, a special area where we have got all the jewellers there. We have very high-end watches in one segment, so they are very interesting. This is literally one of the best malls I would say in the country, the way it is designed, and the feedback that we get, it's really, really nice. And these are the deals signed at Rs.1,000 carpet," Oberoi had said. The mall is part of the Oberoi Sky City project, developed by Oberoi Realty along the Western Express Highway (WEH) in Borivali East, Mumbai. Spanning a gross leasable area (GLA) of approximately 12.07 lakh sq. ft. (with a leasable carpet area of around 7.24 lakh sq. ft.), the mall is a key component of the 25-acre mixed-use development 'Sky City,' undertaken by Incline Realty Private Limited, a wholly-owned subsidiary of the company. According to a March 2023 research report by Motilal Oswal, around 3,200 families are expected to live in the vicinity, offering easy access to the mall. Its strategic location, with connectivity to both exit points of the Metro line, is expected to boost footfall. INOX has already signed on as an anchor tenant with a 10-screen multiplex, while leasing for the remaining space is underway. The report adds that the mall is expected to stabilise by FY25 and has the potential to generate annual rentals of ₹2.5 billion. Also Read: Mumbai real estate: Apple India leases space in Borivali mall for ₹2 cr annual rent to open fourth store in the country According to real estate experts, Borivali has become a magnet for premium retail, boasting at least three prominent high streets featuring luxury jewellery stores, high-end fashion, watches, footwear, and branded department stores. 'Sky City Mall in Borivali East is already commanding rentals of up to ₹1,000 per sq ft, highlighting the growing demand for quality retail space in the suburb,' said Chintan Vasani, partner at Wisebiz Developers, a real estate firm active in the Borivali-Dahisar belt. 'The mall is poised to compete directly with Borivali's established high streets. We're seeing a ripple effect; brands in Borivali West are already renegotiating rental rates. While this may be a short-term correction, the long-term trend is clear: retail brands will continue to expand in Borivali.' The surge in interest is also driven by rising aspirations and disposable incomes of the area's middle and upper-middle class. 'Local consumers show strong, consistent demand, with luxury watch showrooms offering pieces priced between ₹1 lakh and ₹1 crore,' Vasani added. The redevelopment of ageing buildings is also paving the way for new high streets across the city, not just in Borivali. Mira Road, which is around 30% more affordable than Borivali, currently has a larger number of retail high streets and malls, reflecting shifting demand-supply dynamics. With its expanding retail footprint, 'Brand Borivali' is fast emerging as a strong challenger to traditional retail hotspots like Andheri, Bandra, and even South Mumbai, he said. Also Read: Top real estate deal in Mumbai's suburbs: 4 BHK apartment in Borivali sells for ₹14 crore at ₹56,000 per sq ft According to data from CRE Matrix, 122 leave and license agreements have been registered at Sky City Mall, with around 83 of them recorded in 2025 alone. Notable brands in the mall include Titan, Puma, Skechers, Adidas, Safari, Starbucks, and INOX.
Hindustan Times
20-05-2025
- Business
- Hindustan Times
Gurugram real estate: Oberoi Realty to enter Gurugram with high-end luxury project inspired by Three Sixty West
Mumbai-based Oberoi Realty is set to enter the Gurugram real estate market with a high-end luxury project, featuring apartments ranging from 5,000 to 8,000 sq ft, according to Vikas Oberoi, CMD of Oberoi Realty. Oberoi said the Gurugram project will be modeled after the company's flagship luxury development, Three Sixty West, located in Mumbai's Worli. There, apartments are priced at ₹1.50 lakh per sq ft. During an investment call last week, Oberoi mentioned that the company is focusing on the high-end luxury segment for its Gurugram venture. "It is very similar to what we are doing, maybe a smaller version of Three Sixty West. It will start with 5,000 (sq ft) or so, and will go up to 7,500, 8,000 (sq ft). So it's literally that sort of product, it's high-end, high-quality, and it's very well designed," said Oberoi. "Approval-wise, we constantly keep getting approval (for the Gurugram project), so there is really no challenge. We have got a few approvals in the past, maybe a few weeks ago, and the rest of them are also in place, so we are on a good wicket there,' he said. Oberoi Realty plans to launch its high-end luxury project in Gurugram in the second half of the current financial year. In November 2023, the company announced the acquisition of 14.81 acres of land in Sector 58, Gurugram, Haryana, for ₹597 crore. According to the company, the land has the potential to develop up to 2.6 million sq ft of floor area. Also Read: Oberoi Realty forays into NCR, acquires 14.8 acre land for luxury project "Over the past three years, Gurgaon has seen the highest sales value in Delhi NCR, making it a highly attractive market. With limited established local players, Mumbai developers see a clear opportunity to tap into the demand," said Ritesh Mehta, Senior Director and Head (North and West), Residential Services and Developer Initiative at JLL India, a real estate consultancy firm. According to Mehta, "For Oberoi Realty, entering the Gurugram market is a strategic move to diversify geographically and establish a presence in a high-growth, premium-driven zone. The city's evolving buyer profile and robust infrastructure development further enhance its appeal." In December 2024, Oberoi Realty announced its acquisition of 81 acres of land in the coastal town of Alibaug near Mumbai. The company plans to develop a luxury hotel and branded residence villas as part of the project. Speaking about the project launch, Oberoi stated that it could take place by the end of this year. "We would try to do it in, maybe the second half of this year also. But here we want to first do the sample villa. We want to do a restaurant, this is the Ritz-Carlton Hotel, and villas. So, we want to do a restaurant managed by Ritz, and then do a show villa, and then call people and all that give them a complete feel and flavour of what they will be buying into," Oberoi said. Also Read: Should you buy a home near the Metro station or a suburban local train station in Mumbai? Oberoi Realty has secured rental deals for space in the Borivali Sky City Mall at a rate of ₹1,000 per sq ft, according to the company. "We have rentals up to Rs1,000 a square foot on carpet area. So, between Rs400 and Rs1,000, it's something like that. So, it all depends on who is coming in, we have got a very nice gold souk, a kind of special area where we have got all the jewellers there. We have got very high-end watches in one segment, so they are very interesting. This is literally one of the best malls I would say in the country, the way it is designed, and the feedback that we get, it's really, really nice. And these are the deals signed at Rs1,000 carpet," said Vikas Oberoi. In March 2025, Oberoi Realty held a soft launch for its Sky City Mall in Borivali, marking its second mall in Mumbai after Oberoi Mall in Goregaon East. Also Read: 'Buying a house will never go out of fashion,' says Oberoi Realty's CMD Vikas Oberoi Sky City Mall, part of the 25-acre mixed-use development named 'Sky City,' features a gross leasable area (GLA) of approximately 12.07 lakh sq ft, with a leasable carpet area of around 7.24 lakh sq ft.
Mint
13-05-2025
- Business
- Mint
Alibaug's exclusive property market opens up to mainstream luxury developments
Bengaluru: Alibaug, a charming coastal town near Mumbai, is seeing a surge in luxury property development as branded residences and high-end hotels target a broader range of buyers beyond celebrities and business tycoons. Once known for secluded villas of Mumbai's elite, Alibaug is becoming more mainstream with several luxury gated communities coming up. These branded developments are targeted at both investors and end-users. Mumbai's top two developers - Macrotech Developers Ltd ('Lodha') and Oberoi Realty Ltd are gearing up to launch their first projects in Alibaug. Macrotech is planning to develop a 100-acre project that will have sky villas or duplexes, townhouses and a 7-star hotel, said two people familiar with the plans. 'The project 'Lodha Alibaug' is loosely based on the French riviera theme, and will come up on a prime location. It will have a private members' club, with a lot of focus on gastronomy and fine dining,' said one of the two persons cited earlier, both of whom spoke anonymously. The sky villas or duplexes on the higher floors would broadly be priced at ₹ 25-27 crore onwards, and the townhouses cost around ₹ 40 crore. Oberoi Realty, known for its uber luxury projects, is in discussions to develop a Ritz Carlton hotel and fully serviced, branded luxury villas, with a restaurant that will be managed by the hospitality chain. The developer had signed an agreement for around 81 acres in Alibaug's Tekali village last year. 'The project designing is in progress. Oberoi Realty will build a sample villa before starting the sales process. It is aiming for a FY26 launch,' said the second person. Spokespersons of Macrotech and Oberoi Realty didn't respond to queries. "Alibaug has become an extension of south Mumbai. Anything associated with south Mumbai gets tremendous value attached to it. Many south Mumbai families own Alibaug homes since the 1990s, followed by movie stars and, more recently, sports personalities have made it their home away from home. Mumbai-based A grade developers have now entered this market, making it accessible to a larger customer base," said Rati Shroff, assistant vice-president, luxury sales, at Anarock Property Consultants. Just like Goa, the Alibaug property market is also gaining steady interest from developers outside Maharashtra. Last year, Emaar India entered the Mumbai market with its first project in Alibaug. It launched 'Casa Venero', a premium project spread across 24 acres, with 84 villas priced at ₹ 8-15 crore. The USP of the project is a gated and exclusive community, over and above the farmhouse feel of villa with pool and private greens. 'Collectively, hundreds of acres of branded developments are underway in Alibaug. Given the good infrastructure and ease of accessibility, Alibaug will be a first home destination,' Shroff added. Mumbai-based Hiranandani Group plans to launch a 225-acre township 'Hiranandani Sands' in Nagaon. The township will be developed and launched in phases. The developer said it will offer hospitality-led products along with traditional real estate products such as villas, plots, and apartments. 'It will be an ultra-premium project, poised to cater to both leisure seekers and end-users. With the introduction of Ro-Ro (ferry) services, Alibaug now offers seamless, year-round connectivity to Mumbai, making it an attractive destination not only for affluent second-home buyers but also for first-time homebuyers in the long term,' said Niranjan Hiranandani, chairman of Hiranandani Group. In May, Avas Wellness, which counts cricketer Virat Kohli and businessman Adar Poonawalla as its clients, launched 'Ananta by Avas', a luxury project with four and five-bedroom villas. 'Avas Living, our first residential project launched in 2022, is now sold out,' said Aditya Kilachand, CEO and founder, Avas Wellness. Rising demand for Alibaug as a real estate market has also led to a surge in prices. 'Sol de Alibaug', a plotted development project launched by the House of Abhinandan Lodha in April 2023, has seen a big spike in prices. 'Plot prices have risen from ₹ 6,650 per sq ft to ₹ 10,000 per sq ft currently. Increasing ease of connectivity from Mumbai has built a strong case for Alibaug as a destination- with the RoRo and Atal Setu playing a key role,' said a company spokesperson.
