Oberoi Realty Share Price in Focus As It Falls 5%, Hits 7-Month Low

Oberoi Realty share price dropped 5% to a 7-month low of ₹1,561 on Thursday following a Supreme Court ruling. The court asked the Maharashtra government to clarify the environmental status of Sahara’s 106-acre plot in Versova, Mumbai. It decided not to review the bids at this time and ordered the return of Oberoi Realty’s ₹1,000 crore deposit.

Supreme Court Decision Affects Oberoi Realty

At 10:45 AM, Oberoi Realty’s stock was trading 2% lower at ₹1,605, while the BSE Sensex rose by 0.64%. The company’s share price has fallen 34% since hitting a record high of ₹2,349.80 in December 2024. The Supreme Court is seeking clarification on whether the land is fully or partially a mangrove forest. It is considering either a joint venture or an outright sale to settle Sahara’s pending dues.

Impact of the Land Deal on Oberoi Realty

The ruling has caused a negative sentiment for Oberoi Realty, as the land presented significant business opportunities. The stock has declined by nearly 30% in less than 2 months due to an overall market correction. 

Mixed Earnings Report and Market Underperformance

Oberoi Realty has underperformed the market recently, falling 22% in the past month after reporting mixed earnings for Q3FY25. The company’s presales were ₹1,900 crore, up 33% QoQ and 144% YoY. Sales in the 360 West project were slower than expected, and other projects faced challenges due to price hikes and limited high-floor inventory.

Looking Ahead: New Developments and Growth Potential

Oberoi Realty is set to launch a new tower in its Borivali project in Q4FY25, with a soft launch expected between mid-February and early March. The company plans to enter new markets like Gurugram, Worli, Tardeo, and Peddar Road in Mumbai, which will contribute a gross development value (GDV) of ₹24,000 crore.

About Oberoi Realty Ltd

Oberoi Realty Ltd, based in Mumbai, is a real estate development firm and a key part of the Oberoi Realty Group. It specialises in residential, office space, retail, hospitality, and social infrastructure projects.

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