Oberoi Realty Shares Soar 3% on Inking a Development Agreement in Versova 

Shares of Oberoi Realty Ltd soared 3% on 17 March after the company announced that they have signed a development deal for sites owned by the Maharashtra Housing and Area Development Authority (MHADA) in Aram Nagar, Versova, and Andheri West, Mumbai.
 
In its regulatory filing, the company said, “We write to inform you that the Company has today entered into a development agreement for lands situated at Aram Nagar, Versova, Andheri West, Mumbai, belonging to Maharashtra Housing and Area Development Authority (MHADA).”

Oberoi Realty stated in a stock exchange filing that, based on the current provisions of the Development Control and Promotion Regulations (DCPR) for Greater Mumbai, 2034, it expects its share of the free-sale component from project land development to be approximately 17.18 lakh square feet (RERA carpet area).
 
The company said that this estimate excludes its portion of the rehabilitation component intended for current tenants and is still subject to statutory permits and applicable requirements.

In Q3FY26, the company’s consolidated net profit increased by 0.7% Y-o-Y to Rs 623 crore, up from Rs 618.4 crore the previous year.

The company’s revenue increased by 5.8% to Rs 1,493 crore from Rs 1,411.08 crore last year. In Q3FY26, earnings before interest, taxes, depreciation, and amortisation (Ebitda) increased by 1% year on year to Rs 857 crore from Rs 856 crore in Q3FY25. 
 
At 2:35 pm, the shares of Oberoi Realty were trading 2.63% higher at Rs 1,455.40 on NSE.

Tired of missing hot stocks? Tradz by EquityPandit provides powerful tools like stock scans and more help you make informed trading decisions. Download now and take control of your portfolio!

The post Oberoi Realty Shares Soar 3% on Inking a Development Agreement in Versova  appeared first on Equitypandit.