Oberoi Realty Sees Enormous Success with ₹1,348 Crore in Sales at Oberoi Garden City Thane
Mumbai-based real estate giant Oberoi Realty has achieved a landmark success, selling luxury homes worth ₹1,348 crore within just three days of launching its 75-acre project, Oberoi Garden City Thane.
Oberoi RealtyLuxury HomesThaneReal EstateSalesReal EstateOct 21, 2024
The first phase of the housing development comprises five residential towers, featuring 3 BHK and studio apartments with sizes starting from 1,475 sq ft. This premier project is set to be developed and marketed in phases, with bookings for the initial two towers already underway.
Vikas Oberoi, chairman and managing director of Oberoi Realty, expressed his enthusiasm about the project. ‘We are thrilled by the tremendous response to the launch of our latest project at Oberoi Garden City Thane. The trust and confidence our customers have shown in our brand and product deeply humbles and encourages us. This project epitomizes our vision of delivering a holistic, luxurious living experience and we believe it will set a new benchmark for luxury in Thane,’ he said.
Oberoi Garden City, Thane, will span across 75 acres and offer a plethora of amenities, including an exclusive private membership club and an Oberoi International School. The project will also feature a 5-star deluxe JW Marriott Hotel, adding to the overall luxurious appeal of the development.
In addition to the successful launch of Oberoi Garden City Thane, Oberoi Realty has also announced robust financial results for the second quarter of the ongoing fiscal year 2024-25. The company reported a 74% increase in booking value, reaching ₹2,509 crore, up from ₹1,441 crore in the corresponding period last year. The Profit After Tax (PAT) for the first half of FY25 saw a 33% increase to ₹1,173.71 crore from ₹777.45 crore in H1FY24. However, the PAT for Q2 remained relatively flat at ₹589 crore, compared to ₹584 crore in Q2FY24.
Oberoi Realty is not only focusing on Thane but also plans to expand its footprint in other strategic locations. The company is set to foray into Gurugram and launch projects in Thane and Worli over the next 12 months, as announced by Vikas Oberoi. These developments are expected to further solidify Oberoi Realty's position as a leading player in the luxury real estate market in India.
Frequently Asked Questions
What is the total booking value of Oberoi Garden City Thane in the first three days?
Oberoi Garden City Thane recorded a gross booking value of around ₹1,348 crore for 5.65 lakh sq ft (carpet area) over the first three days.
What amenities will be available at Oberoi Garden City Thane?
Oberoi Garden City Thane will offer over 30 amenities, including a 5-star deluxe JW Marriott Hotel, an exclusive private membership club, and an Oberoi International School.
What is the size of the residential units in the first phase of Oberoi Garden City Thane?
The first phase of the development will comprise five residential towers with 3 BHK and studio apartments, starting from 1,475 sq ft.
How did Oberoi Realty perform in the second quarter of FY25?
Oberoi Realty reported a 74% increase in booking value to ₹2,509 crore and a 33% increase in Profit After Tax (PAT) to ₹1,173.71 crore for the first half of FY25.
What are Oberoi Realty's future plans?
Oberoi Realty plans to foray into Gurugram and launch projects in Thane and Worli over the next 12 months.
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