Oberoi Realty is evaluating land purchases and joint development agreements across Delhi, Noida and Gurugram as the Mumbai-based developer looks to expand into the National Capital Region, chairman and managing director Vikas Oberoi said during the company’s September-quarter earnings call.
The developer is open to acquiring land outright or entering joint ventures with landowners, Oberoi said, inviting owners with suitable parcels to approach the company. The proposed expansion would give Oberoi Realty a route into three of the NCR’s largest real estate markets without limiting its growth to a single development model.
“We are open to all three – Noida, Gurgaon and Delhi, (and are) open to looking at projects everywhere, including (through) JDAs or, you know, outright,” Oberoi said, according to a report by Business Standard. “We are happy to use this medium to tell all landowners that we are interested. If they have good land parcels, we’re open to doing either, buy the land or do a JV.”
The company also said that some planned launches could be delayed because regulatory approvals are taking longer than expected. Oberoi said the developer had completed the designs and other preparations for certain projects but was waiting for clearances before proceeding.
The update highlights the role of approvals in determining the timing of new housing and mixed-use supply. While the company did not identify the affected projects or specify the authorities involved, it said the delays related to regulatory clearances rather than design readiness.
In Mumbai, excavation and other on-ground work has started at an ultra-luxury project in Worli being developed by I-Ven Realty, Oberoi Realty’s joint venture with Swiss luxury hospitality group Aman Group. Oberoi Realty has hired Samsung to monitor the project, which the company described as a marquee development.
The company is also seeking approvals for its Railway Land Development Authority project in Bandra East. Saumil Daru, director of finance at Oberoi Realty, said the project is planned to include offices, a small hotel and retail space. The company has not yet decided whether the development will be sold or leased.
Oberoi Realty provided separate timelines for two hotels under construction in Borivali and Thane. Interior work is under way at the Borivali hotel, which is expected to be completed by the end of calendar year 2027. Construction on the Thane hotel has not started, Daru said.
The developer expects to spend more than ₹1,000 crore on construction during the financial year. The spending outlook comes as the company reported a consolidated net profit of ₹761.65 crore for the second quarter of financial year 2027, up 0.2 per cent from ₹760.26 crore in the same quarter a year earlier. Revenue from operations declined 6.1 per cent year-on-year to ₹1,670.95 crore from ₹1,779.04 crore.
The company’s next steps in the NCR will depend on the identification of land parcels, the structure of any joint development agreements and the completion of project-level approvals. For its existing developments, the stated milestones include continued excavation at the Worli project, approval processing for the Bandra East site and completion of the Borivali hotel by the end of 2027.
