Oberoi Realty has entered into a development agreement for development and redevelopment of land admeasuring approximately 12,790 sq meters, situated at Adarsh Nagar, Worli, Mumbai.The said land is leased to Maharashtra Housing and Area Development Authority (MHADA) and currently, there are seven buildings with a total of 504 flats.
The company expects to currently generate a free sale component of around 6.24 lakh sq ft from the project.Its sales booking declined 53 per cent to Rs 4,007 crore in the last financial year. The sales bookings stood at Rs 8,572 crore in the financial year 2022-23 and Rs 3,889 crore in the financial year 2021-22.
During the fiscal year 2023-24, the company sold 705 units for Rs 4,007 crore.