Oberoi Realty tops bid for Railway land in Mumbai's Bandra for ₹5,400 cr
Mumbai-based Oberoi Realty has emerged as the highest bidder for an 11-acre Railway land parcel in Bandra East for ₹5,400 crore, securing development rights on a 99-year lease
 "Oberoi Realty tops bid for Railway land in Mumbai's Bandra for ₹5,400 cr")
Mumbai-based real estate developer Oberoi Realty has won the bid for an 11-acre land parcel in Mumbai’s Bandra East at ₹5,400 crore.
In a stock exchange filing on Wednesday (February 4), the company said it had participated in bids invited by the Railway Land Development Authority (RLDA) for the grant of a lease to develop around 45,371 square metres (about 11 acres) of the land for a period of 99 years.
RLDA is a statutory authority under the Ministry of Railways, Government of India. The land parcel is located adjoining the Western Express Highway in Mumbai.
The land has a floor space index (FSI) potential of around 19.50 lakh square feet, the company added.
Bandra East is a premium housing market. In 2025, it recorded 627 new sale transactions with a gross sales value of ₹2,333 crore, according to Square Yards Data Intelligence. As of the fourth quarter of 2025, the average property rate in the area stood at ₹63,440 per square foot, up from ₹59,909 per square foot in the same quarter a year earlier.
Earlier, the company’s net profit for the third quarter of the financial year 2025–26 (Q3 FY26) grew marginally by about 0.68 per cent year-on-year (Y-o-Y) to ₹622.64 crore, compared with ₹618.38 crore in Q3 FY25.
The company’s revenue from operations during Q3 FY26 stood at ₹1,492.64 crore, up 5.77 per cent Y-o-Y. Other income during the quarter rose 40.47 per cent Y-o-Y to ₹69.1 crore.
During the quarter, the company did not launch any new projects. Analysts expect the firm to launch one new tower in Sky City, Borivali, a project on Peddar Road, and another in Gurugram in Q4 FY26. If these launches materialise, Oberoi Realty may surpass pre-sales of ₹6,500–7,000 crore in FY26.