Page 4 - Oberoi Realty

SC stays criminal proceedings against IREO Group, Oberoi Realty MDs

The Supreme Court has stayed criminal proceedings against IREO Group Managing Director Lalit Goyal and Oberoi Realty Limited Chairman and Managing Director Vikas Oberoi over allegations of cheating, criminal breach of trust and forgery. A vacation bench of Justices PV Sanjay Kumar and Augustine George Masih issued notice to the Haryana government on a plea filed against an order of the Punjab and Haryana High Court. "The question as to whether the filing of the second complaint would amount to an abuse of process and as to whether the complainant approached the court with unclean hands requires further examination. Issue notice to the respondents ...In the meanwhile, there shall be stay of further proceedings in relation to FIR," the bench said. The top court was hearing a plea filed by IREO and the Oberoi groups challenging the June 6 order of the Punjab and Haryana High Court that upheld registration of FIR. The FIR was registered on the orders of the chief judicial magistrate at

Macrotech and Oberoi Realty elevate Mumbai skyline with highrise sales

Architects of market dominance: Leading largecap realty stocks with 29% to 33% gains in recent surge

Sales momentum, portfolio reinforces outlook for Macrotech, Oberoi Realty

The near term trigger is a 22 per cent rise in housing units registered in Mumbai for May to 12,000 units, the highest for the month in the last twelve years

FIR filed against IREO Group, Oberoi Realty MDs for fraud in Gurugram

An FIR was registered against nine people, including IREO Group Managing Director Lalit Goyal and Oberoi Realty Limited Chairman and Managing Director Vikas Oberoi, under various sections of cheating, criminal breach of trust and forgery, police said on Sunday. The FIR was filed on the orders of the Chief Judicial Magistrate at the DLF phase 2 police station on Friday following a complaint lodged by Advance India Projects Limited (AIPL), citing allegations of cheating, criminal breach of trust and forgery against the accused, the police said. According to the FIR, IREO and Oberoi -- both realty groups -- are accused of conspiring to defraud allottees who had invested funds since 2013, thus not only deceiving investors but also defrauding the AIPL Group. In its complaint, AIPL claimed that IREO Group embezzled approximately Rs 1,777 crore and sent it out of the country, adding that about Rs 1,376 crore was recovered as advances from the allottees. AIPL alleged that IREO collected Rs

Strong prospects fully priced in for real estate firm Oberoi Realty stock

The revenue increased 37 per cent Y-o-Y to Rs 1,310 crore in Q4FY24 and Ebitda was at Rs 790 crore, up 114 per cent Y-o-Y with the margin increasing sharply to 60 per cent

Oberoi Realty rallies 7%, hits 52-week high on stellar Q4 performance

The Mumbai based developer reported a 64 per cent year-on-year increase in net profit, reaching Rs 788 crore. Total income for the same period surged by 56 per cent to Rs 1,558 crore

Oberoi Realty Q4 PAT up at Rs 788 cr on strong demand for luxury projects

India's real estate market is seeing a surge in demand for homes, particularly luxury properties. Unlike other segments, the luxury market seems unfazed by rising property prices

Nifty Realty hits fresh 16-yr high; surges 7% in 2 days on healthy outlook

Meanwhile, thus far in the calendar year 2024, the Nifty Realty index has surged 21 per cent, as compared to 2 per cent rise in the benchmark index.

Oberoi Realty ties up with Marriott to manage two new hotels in Mumbai

Oberoi Realty on Friday said it has entered into an agreement with Marriott International for the management of two new hotels in Mumbai Metropolitan Region (MMR). In a regulatory filing, the company informed that it has "entered into an agreement with Marriott International, aimed at enriching luxury living experiences in the Mumbai Metropolitan Region." The agreement marks the development of two Marriott properties -- 'JW Marriott Hotel Thane Garden City' and 'Mumbai Marriott Hotel Sky City' in Borivali, both set for completion in 2027-2028. Vikas Oberoi, Chairman & Managing Director, Oberoi Realty Limited, said, The JW Marriott Hotel Thane Garden City will be set in Oberoi Garden City, Thane, our integrated development spread across 75 acres which will also consist of luxury residences and world-class amenities." The Mumbai Marriott Hotel Sky City will be part of Sky City, its integrated living development, spread across 25 acres in Borivali East. The project also consists of .

Weaker than expected bookings in Q3, valuations to weigh on Oberoi Realty

While this was up 25 per cent as compared to the year-ago quarter, it was down 18 per cent on a sequential basis despite a new launch

Oberoi Realty reported 49% decline in Q3 net profit at Rs 360.15 cr

Oberoi Realty Ltd on Monday reported a 49 per cent decline in consolidated net profit to Rs 360.15 crore for the December quarter. Its net profit stood at Rs 702.57 crore in the year-ago period. The company's total income also fell to Rs 1,082.85 crore in the third quarter of the current fiscal from Rs 1,651.50 crore a year ago, according to a regulatory filing. Mumbai-based Oberoi Realty is one of the leading real estate firms in the country. In a separate filing, Oberoi Realty said it has achieved "gross bookings of Rs 882 crore during the launch of its new tower in Elysian at Oberoi Garden City, Goregaon, Mumbai".

New launches, cash flows to back rally in Oberoi Realty; stock climbs 29%

The recent trigger has been the launch of its Kolshet project (Thane) called Forestville in November

Real estate firm Oberoi Realty buys 6.4-acre land in Thane for Rs 196 cr

Oberoi Realty has completed the purchase of a 6.4-acre land at Thane in Maharashtra for Rs 196 crore for the development of a real estate project. In a regulatory filing on Tuesday, Mumbai-based Oberoi Realty informed that the registry of the land has been done in its favour. In May, the company had entered into a Memorandum of Understanding (MoU) with NRB Bearings Limited for acquiring the lands located at Pokhran Road 2, Thane, Maharashtra, together with structures thereon. The acquisition was to be completed upon fulfilment of certain terms and conditions of the MoU. The same has been fulfilled. "The Company has on December 5, 2023, registered a conveyance deed of the said land admeasuring approximately 25,700 square meters (approx. 6.4 acres) in its favour and also taken possession of the said property," Oberoi Realty said. The total consideration for the acquisition of this land is about Rs 196 crore, which has been paid in its entirety. With the acquisition of this 6.4-acr

Oberoi Realty flying high on new launches; brokerage bullish on the stock

Analysts expect the company to maintain its growth momentum and continue to deliver strong earnings growth with new project launches

Oberoi Realty jumps 5%, m-cap hits Rs 50,000 cr as company forays into NCR

In past one month, the stock has outperformed the market by surging 28 per cent, as compared to 0.34 per cent gain in the S&P BSE Sensex and 15 per cent rally in the S&P BSE Realty index.

Oberoi Realty enters Delhi-NCR; buys 15-acre land in Gurugram for Rs 597 cr

Oberoi Realty has bought nearly 15-acre land in Gurugram for Rs 597 crore to develop luxury housing project, marking its foray into the Delhi-NCR property market. The Mumbai-based company has "executed an agreement for sale with Ireo Residences Company Pvt Ltd and others for acquiring land admeasuring approximately 14.816 acre equivalent to 59,956.20 square meters at Sector 58, Gurugram, Haryana." In a regulatory filing on late Friday, Oberoi Realty said the consideration for the transaction is in the form of event/ time linked monetary consideration of up to Rs 597 crore, and up to a certain area in the project for the existing homeowners and others. The company has taken possession of this land and it will get an estimated area of 2.6 million square feet for development. "This transaction marks the company's foray into the NCR region," Oberoi Realty said. The company intends to primarily develop a luxury residential group housing project on this land parcel. Oberoi Realty has .

DLF, Oberoi Realty zoom up to 70% so far in 2023; will the rally last?

Charts suggest that the bias for the realty stocks is likely to remain favourable as long as they hold these key support levels.

Oberoi Realty Q2 profit up 43% to Rs 457 crore in on higher revenue

Oberoi Realty Ltd has reported 43 per cent increase in consolidated net profit at Rs 456.76 crore for September quarter 2023-24 on higher revenue. Its net profit stood at Rs 318.62 crore in the year-ago period. Total income rose to Rs 1,243.80 crore during July-September 2023-24 from Rs 711.79 crore in the corresponding period of the previous year, the company said in a regulatory filing on Friday. Mumbai-based Oberoi Realty, which mainly focuses on luxury residential segment, logged a net profit of Rs 778.42 crore during April-September this fiscal as against Rs 721.70 crore in the year-ago period. Total revenue increased to Rs 2,177.36 crore in the first six months of this fiscal from Rs 1,646.60 crore in the corresponding period of the previous year. Vikas Oberoi, Chairman & Managing Director, Oberoi Realty, said, "We believe the real estate market will continue its upward trajectory through consistently surging demand for established brands, spacious apartments and a desire ..

Max Fin, JSP, Oberoi: Strategy for stocks with highest F&O rollover to Nov

Dr.Reddy's, Apollo Tyres and Jindal Steel are among the five stocks which have seen rollovers of up to 88 per cent to the November series.

Oberoi Realty sales bookings fell 17% to Rs 965 crore in Jul-Sep quarter

Oberoi Realty has reported a 17 per cent decline in sales bookings to Rs 965 crore in the second quarter of this fiscal. Its sales bookings stood at Rs 1,156 crore in the year-ago period. According to a regulatory filing on October 20, the company booked 151 units during the JulySeptember period as against 132 units in the year-ago period. In terms of volume, the company sales bookings stood at 2,20,828 square feet of carpet area in the second quarter of this fiscal as against 2,33,947 square feet in the year-ago period. The company booked 261 units during the first six months of this fiscal, down from 296 units in the year-ago period. Sales in volume terms declined to 3,66,716 square feet during AprilSeptember period from 4,78,892 square feet in the year-ago period. Mumbai-based Oberoi Realty is one of the leading real estate firms in the country.