Real Estate

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

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Oberoi Realty has emerged as the highest bidder for an 11-acre land in Mumbai with a bid value of Rs 5,400 crore. In a regulatory filing, the company said it had participated in the bids invited by Railway Land Development Authority (RLDA) for the grant of a lease for the development of 45,371 sq metre (about 11 acres) of railway land in Bandra East for 99 years, with Floor Space Index (FSI) potential of 19.50 lakh sq ft. The financial bids were opened by RLDA on Wednesday. "The company's bid at Rs 5,400 crore has emerged as the highest," it said. Oberoi Realty said the communication from RLDA with respect to the next steps in the process is awaited. Last month, the company reported a marginal increase in consolidated net profit to Rs 622.64 crore for the quarter ended December 31, 2025. Its net profit stood at Rs 618.38 crore in the year-ago period. Total income rose to Rs 1,561.74 crore in the third quarter of this fiscal, from Rs 1,460.27 crore in the corresponding period of

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