Oberoi Realty purchases 14.81 acre in Gurugram for Rs 5.97 bn

20 Nov 2023 CW Team

Oberoi Realty announced the execution of an agreement for the sale of land measuring approximately 14.816 acre, equivalent to 59,956.20 square metre at Sector 58, Gurugram, with Ireo Residences Company and others.

The consideration for the transaction is in the form of event/time-linked monetary consideration of up to Rs 5.97 billion, and up to a certain area in the project for the existing homeowners and others.

As stated by the company, its entitlement from the project at full potential is presently estimated to be up to 2.6 million square feet of FAR.

This transaction signifies the company's entry into the National Capital Region (NCR), with the intention of primarily developing a luxury residential group housing project on the mentioned land.

As of September 30, 2023, Oberoi Realty's net worth was reported to be Rs 128.42 billion. The debt-equity ratio stood at 0.26, the current liability ratio at 0.45, total debts to total assets at 0.18, operating margin at 52.42%, and net profit margin at 36.72%.

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