Oberoi Realty expands its business by entering new sectors
Oberoi Realty, one of the renowned real estate developers in Mumbai is likely to invest in a residential project in NCR. The investment would be of small bracket of worth Rs 200 crore.
Also, the group has plans of rechecking acquisitions in cities like Hyderabad and Bangalore.
It has been confirmed by the company Chairman and Managing Director that it will invest mainly in the capital city but it would follow a cautious approach in the new markets as well.
Currently, the company is going for tie ups with existing plot owners in the Delhi NCR real estate market, mainly in Gurgaon, Noida and Greater Noida.
Recently, the firm saw a rise of 2% in its earnings and revenue in the fourth quarter of the financial year.
The company’s revenue grew by 19.3% which came up to Rs 304 crore and earnings before interest, tax jumped 8.4% to Rs 178 crore in January-March quarter.
The firm is likely to experiment in other cities such as NCR, Bangalore and Hyderabad. Furthermore, they are going to make small investments and do market research as well before taking up projects.
Also, it has been clarified that the much-delayed hotel project in Worli, Central Mumbai by the firm, would be launched in September this year.
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