Oberoi Realty Limited — Important, 23-12-2024: General Updates

Oberoi Realty has executed a Development Agreement for approximately 81.05 acres (328,010 square meters) of land in Alibaug, Maharashtra. Of this, about 8.6 acres (34,803 square meters) will be allocated for a luxury five-star hotel or resort with a floor space index (FSI) of 30,000 square meters. The remaining 72.45 acres (293,207 square meters) is planned for the construction of around 150 high-end luxury, fully serviced branded residential villas, utilizing an FSI of approximately 120,000 square meters. The consideration to landowners includes revenue and area shares from the residential project. The company has already taken possession of the land, signaling a robust expansion strategy that could enhance its portfolio significantly and drive future revenue streams. Investors should view this as a positive step towards growth in a lucrative market segment.