Oberoi Realty has executed an agreement for sale with Ireo Residences Company and others for acquiring land admeasuring approximately 14.816 acres equivalent to 59,956.20 sq meters at Sector 58, Gurugram.
The consideration for the transaction is in the form of event/ time linked monetary consideration of upto Rs. 597 crore, and upto a certain area in the project for the existing homeowners and others, the company said in the regulatory filing.The company’s entitlement from the project at full potential is presently estimated to be upto ~2.6 million sq ft of FAR.
This transaction marks the company’s foray into the National Capital Region (NCR). It intends to primarily develop a luxury residential group housing project on the said land.
As on September 30, 2023, Oberoi Realty’s net worth stood at Rs 12,842.11 crore, debt-equity ratio was 0.26, current liability ratio was 0.45, total debts to total assets was 0.18, operating margin was 52.42% and net profit margin was 36.72%.