Oberoi Realty Secures Mumbai Land Bid for Rs 5,400 Crore
Oberoi Realty has emerged as the highest bidder for an 11-acre land in Mumbai, securing the plot for Rs 5,400 crore. The bid was part of a competitive process organized by the Railway Land Development Authority (RLDA), which invited developers to bid for the lease of 45,371 sq metres (approximately 11 acres) of railway land in Bandra East. The lease is for 99 years, with a Floor Space Index (FSI) potential of 19.50 lakh sq ft.
In a regulatory filing, Oberoi Realty announced its participation in the RLDA's bid process. The financial bids were opened by RLDA on Wednesday, and Oberoi Realty’s bid was the highest. The company is now awaiting further communication from RLDA regarding the next steps in the process.
This significant acquisition underscores Oberoi Realty's commitment to expanding its presence in the Mumbai real estate market. The company, known for its premium residential and commercial projects, has a strong track record of delivering high-quality developments. The new land in Bandra East, a prime location in Mumbai, is expected to be a valuable addition to Oberoi Realty's portfolio.
Last month, Oberoi Realty reported a marginal increase in consolidated net profit to Rs 622.64 crore for the quarter ended December 31, 2025. This represents a slight improvement from the Rs 618.38 crore net profit recorded in the same period the previous year. The company's total income also saw a rise, increasing to Rs 1,561.74 crore in the third quarter of this fiscal year from Rs 1,460.27 crore in the corresponding period of the previous year.
Mumbai-based Oberoi Realty is one of the leading real estate developers in the country, renowned for its commitment to quality and innovation. The company's successful bid for the Bandra East land is a testament to its strategic vision and financial strength. As the real estate market in Mumbai continues to evolve, Oberoi Realty's acquisition is likely to have a significant impact on the local property landscape.
The acquisition of this prime land is expected to support Oberoi Realty's growth plans and enhance its market position. The company is well-positioned to leverage its expertise in developing high-end residential and commercial projects, which are in high demand in Mumbai's bustling real estate market.
