Hot Pursuit     06-Dec-23
Oberoi Realty hits record high after acquiring 6.4 acres land from NRB Bearings
Oberoi Realty rose 1.52% to Rs 1,461 after the realtor acquired the land located at Pokhran Road 2, Thane, Maharashtra, together with structures thereon from NRB bearings.
The company has registered 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. The total consideration for acquisition of the said property is approximately Rs 196 crore, which has been paid in its entirety.

The company has completed the acquisition and consolidation of contiguous pieces of lands admeasuring around 75 acres situate at Pokhran Road 2, Thane, Maharashtra.

Earlier on 23 May 2023, the company had entered into a memorandum of understanding (MOU) with NRB Bearings for acquiring the land at Pokhran Road 2, Thane, Maharashtra, together with structures thereon.

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

The company's consolidated net profit jumped 43.4% to Rs 456.76 crore on 76.8% jump in net sales to Rs 1,217.41 crore in Q2 FY24 over Q2 FY23.

The scrip hit all-time high at Rs 1,463.95 in intraday today.

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 ( Hot Pursuit - 06-Dec-23   14:35 )
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