Oberoi Realty sold houses worth over Rs 8,500 crore in FY23

April 21, 2023

Oberoi Realty ended the financial year 2022-23 with sales worth Rs 8,572 crore, about 2.2 times the number that sold a year ago, an exchange filing showed.

In terms of area it sold about 25.4 lakh square feet in the year just ended, up from the 21 lakh square feet it had sold a year ago.

In the March quarter, the Mumbai-based real estate developer sold houses worth Rs 6,023 crore, up from the Rs 925 crore sold a year ago and Rs 632 crore sold in the December quarter. Part of the sales in the quarter under review was accounted for by its subsidiary, Oberoi Construction’s joint venture Oasis Realty, selling 63 units worth Rs 3,403 crore to Oberoi Realty.

Oberoi Constructions, which holds 32.5 per cent stake in Oasis Realty, retired from the joint venture in March. Oasis Realty owns Oberoi Realty’s upscale luxury project Three Sixty West in Worli.

In December Oberoi Realty purchased some inventory from the JV, as with price appreciation, it wanted more control over sales in the project.

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