Vikas Oberoi: Oberoi Realty to actively pursue redevelopment business

19 May 2021 CW Team

Vikas Oberoi, Chairman of Mumbai based developer, Oberoi Realty, plans to redevelop residential buildings in the coming quarters.

Vikas told the analysts in a call that they have hired and are hiring people for redevelopment business, and their key responsibility area (KRA) will be to identify and pursue such opportunities.

He told the media that the company is open to the redevelopment of large residential societies and doing joint development.

Oberoi Realty was one of the bidders for the Chhatrapati Shivaji Maharaj Terminal redevelopment project. Vikas told the media that under the current circumstances, the company is looking to buy land aggressively.

According to Vikas, this is the best time to buy land. He cited that as the coffers of most land developers are empty, it is the best time to purchase land.

He added that the nation is under-built in terms of real estate and including Oberoi Realty, very few of them will build it due to strong balance sheet, capabilities and brand name.

He said that the April and May months of the current year look like washouts and that they will have a large share of the market. He added that once the lockdown opens up, they would come to know how the momentum picks up.

Image Source

Also read: Century Real Estate raises Rs 175 cr for luxury housing project

Also read: Oberoi ties up with EESL for energy initiatives across properties

Infrastructure Urban

06 Jul 2026

ABS Marine Sees CRISIL Credit Rating Upgrade

ABS Marine Services has secured an upgrade to its long term and short term credit ratings from CRISIL, reflecting improved profitability and revenue growth through long term contracts. CRISIL moved the long term rating from BBB+/Stable to A-/Stable and revised the short term rating from A2 to A2+. The action signals strengthened financial metrics and operational resilience. The company benefited from durable client relationships with firms such as ONGC and Schlumberger. The rating decision followed stronger cash flows and an enlarged bank loan facility, which increased from Rs 3,705 million (m..

Project BRAHMANK Marks 16 Years Of Strategic Roads In Arunachal

Project BRAHMANK is marking 16 years of work to establish strategic road and bridge links across Arunachal Pradesh, maintaining and developing 811 kilometres of roads and nearly 86 bridges that range from small culverts to large steel and arch bridges. These transport links are described as critical for ensuring year-round movement of defence personnel, equipment and essential supplies while improving everyday travel for people in remote villages. The project balances national security requirements with regional development by focusing on reliable access in challenging terrain. Notable enginee..

Longleng CSOs Give One Week Ultimatum Over Two-Lane Highway

Civil society organisations (CSOs) in Longleng district have demanded immediate restoration of the deteriorating Changtongya–Longleng two-lane road and sought a detailed status report on the stalled construction within one week. The demand followed a consultative meeting convened under the Phom Peoples' Council (PPC) to discuss welfare and development concerns. PPC president YB Angam Phom said prolonged non-maintenance had caused hardship to commuters and affected transportation, local commerce and the district's development. The meeting urged authorities to undertake immediate restoration a..