Oberoi Realty has secured a development agreement for a 2,576 square metre land parcel on Carter Road, Bandra (West), Mumbai. This project will generate around 40,000 square feet of free sale area, targeting the high demand for premium real estate. The company reported a 54% revenue increase to INR 1,441.95 crore and a profit after tax of INR 584.40 crore in Q1 FY25. This initiative underscores Oberoi Realty's strategic focus on key locations and sustainable urban development, contributing to Mumbai's vibrant real estate market.
Oberoi Realty has recently announced a significant step in its growth strategy by securing an agreement for the development and redevelopment of a prime land parcel located at Carter Road in Bandra (West), Mumbai. The company will be working on approximately 2,576 square metres of land, with plans to generate around 40,000 square feet of free sale area. This initiative reflects Oberoi Realty's commitment to enhancing its portfolio in key locations within Maharashtra, which is a crucial market for real estate development in India.
The Carter Road area is known for its vibrant culture and upscale living, making it an attractive spot for potential residential and commercial properties. This development is expected to cater to the growing demand for premium real estate in South Mumbai. The region has witnessed a steady influx of investment, driven by its strategic location close to the Arabian Sea and the increasing interest in urban living among young professionals and families.
Oberoi Realty's recent financial results further highlight the company's strong performance. For the first quarter of the fiscal year 2025, the company reported revenues of INR 1,441.95 crore, up significantly from INR 933.56 crore in the same period last year. Additionally, the profit after tax (PAT) surged to INR 584.40 crore, compared to INR 321.36 crore in Q1 FY24. This growth underscores the resilience of the real estate sector in India, particularly in major urban centres where demand remains strong despite economic fluctuations.
The development sector in Mumbai is currently experiencing renewed interest, with various developers working on projects to meet the needs of a growing population. Factors such as changing demographics, economic growth, and urban migration are driving the demand for new housing and commercial spaces. As part of its strategy to capitalise on these trends, Oberoi Realty is focusing on creating innovative living spaces that reflect modern lifestyles.
In addition to residential spaces, Oberoi Realty is known for its commitment to sustainability and community development. The company integrates green building practices into its projects, aiming to reduce environmental impact and enhance the quality of life for residents. This approach aligns with global trends where sustainability is becoming a priority in urban development.
As Oberoi Realty progresses with its new project at Carter Road, it will not only contribute to the local economy but also enhance the overall landscape of Bandra. The project is expected to attract new residents and businesses, further enriching the cultural fabric of this iconic neighbourhood. With continued growth in the real estate sector, companies like Oberoi Realty are well-positioned to play a significant role in shaping the future of urban development in India.
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