Oberoi Realty emerges as highest bidder for lease land in Mumbai

Oberoi Realty said that it has emerged as the highest bidder in an auction held by the Railway Land Development Authority for grant of lease for a land parcel in Bandra East.

In a regulatory filing post market hours yesterday, the company stated that it had participated in the bids invited by Railway Land Development Authority (RLDA), a statutory authority under the Ministry of Railways, Government of India.

The actuion was for grant of lease for the development of approx. 45,371 square meters (approximately 11 acres) of railway land in Bandra East, adjoining Western Express Highway, Mumbai, for 99 years, with FSI potential of approximately 19.50 lakh square feet.

The financial bids were opened by RLDA on Wednesday. The companys bid, at Rs 5,400 crore, has emerged as the highest.

Communication from RLDA w.r.t. the next steps in the process is awaited, the company said in a statement.

Oberoi Realty is a real estate development company headquartered in Mumbai. It focuses on premium developments in the residential, office space, retail, hospitality and social infrastructure verticals.

The companys consolidated net profit rose 0.69% to Rs 622.64 crore on a 5.78% rise in net sales to Rs 1,492.64 crore in Q3 FY26 over Q3 FY25.

The scrip shed 0.15% to currently trade at Rs 1541.10 on the BSE.

Powered by Capital Market - Live News