Vikas Oberoi: Oberoi Realty to actively pursue redevelopment business
Real Estate

Vikas Oberoi: Oberoi Realty to actively pursue redevelopment business

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

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

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code