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Oberoi Realty has emerged as the highest bidder for an 11-acre railway land parcel in Bandra East, Mumbai, with a bid of INR 5,400 crore. The land, offered by the Railway Land Development Authority on a 99-year lease, has a development potential of around 19.50 lakh sq ft. Financial bids were opened during the past week, and the company is awaiting further steps from RLDA. The development comes alongside a marginal rise in the company's quarterly profit and income.
Oberoi Realty has emerged as the highest bidder for a prime 11-acre railway land parcel in Mumbai's Bandra East, with a bid value of INR 5,400 crore. The bid was submitted in response to tenders invited by the Railway Land Development Authority for granting a long-term lease to develop the site. Advertisement
According to a regulatory disclosure, the land parcel measures about 45,371 sq metres and is being offered on a 99-year lease. The site carries a development potential of nearly 19.50 lakh sq ft of Floor Space Index, making it one of the largest centrally located redevelopment opportunities currently available in Mumbai.
The financial bids were opened during the past week, following which Oberoi Realty's offer was identified as the highest among the participants. The company stated that it is awaiting further communication from RLDA regarding the next procedural steps, including the formal award and documentation related to the lease.
Railway land parcels in Bandra East have drawn strong interest in recent years due to their proximity to the Bandra Kurla Complex, one of India's most expensive commercial districts. Previous RLDA-led monetisation efforts in the area have seen competitive bidding from large real estate groups, reflecting the strategic importance of such assets in land-scarce Mumbai.
Separately, the company recently reported a marginal rise in its consolidated financial performance. Net profit for the quarter ended December 31, 2025, stood at INR 622.64 crore, compared to INR 618.38 crore in the corresponding period a year earlier. Total income for the quarter increased to INR 1,561.74 crore from INR 1,460.27 crore in the year-ago period.
Source PTI
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