Mumbai-based real estate giant Oberoi Realty is gearing up to mark its grand entry into Delhi-NCR’s Gurugram before the end of this financial year. Chairman and Managing Director Vikas Oberoi confirmed during the Q2 FY25 earnings call that most of the required approvals are already secured and the company is on track for a timely launch.
Gurugram Expansion: A Key Milestone for Oberoi Realty
“We have opened our office in Gurugram, which clearly signals our intent and expansion strategy for NCR,” said Vikas Oberoi. The developer has already loaded the full Transferable Development Rights (TDR) for the project, ensuring 100% approval in a single phase. “We are truly hoping to launch it within this financial year,” Oberoi added.
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Project Plans and Market Buzz
The groundwork for Oberoi Realty’s first Gurugram project has already begun with demolition work underway. Oberoi expects all plans — including RERA registration — to be finalized by early January. Despite not being able to advertise or accept bookings until RERA clearance, Oberoi revealed that market demand has been “tremendous,” with several potential buyers eager to invest.
“If RERA wasn’t in place, we would’ve already collected a lot of cheques — that’s how strong the interest is,” he shared.
What to Expect from Oberoi Realty’s First NCR Project
In April 2025, the company had announced plans to create a high-end luxury residential project in Sector 58, Gurugram, featuring apartments ranging from 5,000 to 8,000 sq. ft. The design philosophy mirrors Oberoi’s ultra-luxurious Three Sixty West project in Mumbai, albeit on a slightly smaller scale. The land parcel, spanning 14.81 acres and acquired for ₹597 crore, holds a development potential of 2.6 million sq. ft.
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A Busy Launch Pipeline Across Key Markets
The Gurugram project is part of Oberoi Realty’s robust launch pipeline for the second half of FY25. “Gurugram will come in, Worli can come in, and we also have new towers planned in Borivali, Thane, and Goregaon,” Oberoi revealed. He emphasized the company’s cautious approach to market timing, ensuring launches align with optimal demand conditions.
Borivali’s Sky City: Record Sales and Rising Prices
Oberoi Realty’s Sky City project in Borivali continues to outperform expectations, with prices now exceeding ₹50,000 per sq. ft. — one of which was purchased by Bollywood actor Akshay Kumar. Oberoi noted that prices were raised following strong resale activity and sustained demand.
“The project’s direct metro access and integration with a premium shopping mall make it truly unique,” he said.
Sky City Mall’s Success Mirrors Goregaon’s Footfalls
The recently opened Sky City Mall in Borivali has achieved remarkable footfall levels, almost matching those of the company’s established Goregaon Mall within just six months. “We expected this milestone in a year or two, but the response has been phenomenal,” Oberoi noted. The mall currently enjoys 53% trading occupancy, signaling strong retail performance ahead.
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Strong Financial Performance in Q2 FY25
Oberoi Realty continues to report stellar numbers, with a 29% year-on-year growth in net profit, reaching ₹760.26 crore in Q2 FY25, compared to ₹589.44 crore last year. The company’s total income for the July–September quarter rose to ₹1,844.84 crore, up from ₹1,358.62 crore in the same period of the previous year — reflecting consistent growth driven by successful project launches and rising demand.
