Mumbai-based listed real estate firm Oberoi Realty on October 21 said that it has sold luxury homes worth ₹1,348 crore in its newly launched 75-acre housing project in Thane near Mumbai.
The company launched the project ‘Oberoi Garden City Thane’ on October 18. It will be developing and marketing the project in phases.
The company has “recorded gross booking value of around ₹1,348 crore for 5.65 lakh sq ft (carpet area) over the first three days,” it said in a regulatory filing.
The first phase of the development will comprise five residential towers comprising 3 BHK and studio apartments with sizes starting from 1,475 sq ft.
“We are thrilled by the tremendous response to the launch of our latest project at Oberoi Garden City Thane. The trust and confidence our customers have shown in our brand and product deeply humbles and encourages us. This project epitomizes our vision of delivering a holistic, luxurious living experience and we believe it will set a new benchmark for luxury in Thane.” said Vikas Oberoi, chairman and managing director of Oberoi Realty.
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According to the company, the project spread around 75 acres named Oberoi Garden City, Thane will offer homes with over 30 amenities, a 5-star deluxe JW Marriott Hotel Thane Garden City, an exclusive private membership club and an Oberoi International School.
Also Read: Top real estate deal in Mumbai’s suburbs: 4 BHK apartment in Borivali sells for ₹14 crore at ₹56,000 per sq ft
Oberoi Realty results for Q2FY25
Oberoi Realty on October 19, announced its results for the second quarter of ongoing fiscal 2024-25 in which it recorded an increase in its booking value by 74% to ₹2,509 crore from ₹1,441 crore. The company reported a 49% increase in booking value of 1,442.46 crore for Q2FY25 as against ₹965.01 crore for Q2FY24.
Also Read: Oberoi Realty plans to foray into Gurugram; launch projects in Thane and Worli in the next 12 months: Vikas Oberoi
Its Profit After Tax (PAT) for the first half of FY25 was a 33% increase from ₹1,173.71 crores as against Rs. 777.45 crores for H1FY24. The PAT remained flat in Q2, from ₹ ₹584 crore in Q2FY24 to ₹589 crore in Q2FY25.
