Oberoi Realty Infuses ₹268.50 Crore in SPV for Bandra East Railway Land Project
NEW DELHI: Oberoi Realty has made a significant investment of ₹268.50 crore in Centerstage Realty, its wholly-owned subsidiary, according to a regulatory filing. The company acquired 26.85 crore equity shares of ₹10 each at par value. Following the subscription, the company continues to hold 100% shareholding and control in Centerstage Realty.
Centerstage Realty was established on June 2, 2026, as a special purpose vehicle (SPV) to undertake the development of railway land in Bandra East, adjacent to the Western Express Highway in Mumbai. This strategic location is expected to enhance the project's accessibility and appeal.
Earlier, Oberoi Realty had submitted a successful bid to the Railway Land Development Authority (RLDA) for the lease of approximately 45,371 square meters (about 11 acres) of railway land for 99 years. The company promptly paid ₹247.50 crore to RLDA within 30 days of receiving the letter of demand.
As per the bid documents, the project must be implemented through a newly incorporated SPV under the Companies Act, 2013. The lease agreement for the land will be executed by RLDA in favor of the SPV. The bid documents also mandate that the SPV must have a minimum paid-up and subscribed share capital of ₹268.50 crore, which Oberoi Realty has now fulfilled.
This investment underscores Oberoi Realty's commitment to developing high-value real estate projects in strategic locations. The Bandra East project is expected to transform the area, bringing modern infrastructure and amenities to one of Mumbai's most vibrant neighborhoods. Oberoi Realty's strong financial position and track record in real estate development make it well-equipped to execute this ambitious project successfully.
The project is anticipated to contribute significantly to the local economy, creating jobs and boosting real estate values in the area. It aligns with the government's vision to rejuvenate underutilized railway land and integrate it with urban development plans. Oberoi Realty's involvement in this project is a testament to its ability to identify and capitalize on lucrative investment opportunities in the real estate sector.
For more information about Oberoi Realty, visit their official website or contact their customer service for detailed project updates and investment opportunities.
