Oberoi Realty on Monday, October 21, said it launched its latest integrated development project – Oberoi Garden City Thane – on October 18 and recorded gross booking value of ₹1,348 crore for 5.65 lakh square feet over the first three days.
Oberoi Garden City is spread across 75 acre and has over 30 world-class amentities, including a 5-star JW Marriott Hotel Thane Garden City, a private membership club and an Oberoi International School.
The first phase of the development comprises five residential towers with expansive gardens. The bookings for two of these towers started on October 18, 2024.
The homes will comprise three bedroom and three bedroom + studio apartments starting at 1,475 square feet and will rise over 65 storey.
“We are thrilled by the tremedous response to the launch of our latest project at Oberoi Garden City Thane. This project epitomizes our vision of delivering a holistic, luxurious living experience and we believe it will set a new benchmark for luxury in Thane,” Vikas Oberoi, the chairman and managing director of Oberoi Realty said.
On another note, Oberoi Realty reported a 28% increase in its September quarter net profit at ₹589.4 crore. Its revenue from operations increased 8.4% to ₹1,320 crore from ₹1,217.4 crore in the previous year.
At the operating level, EBITDA jumped 27.5% to ₹813.8 crore in the second quarter and the EBITDA margin stood at 61.7% in the reporting quarter as compared to 52.4% in the previous year.
The company’s board of directors declared a second interim dividend for FY25 at the rate of ₹2 per equity share i.e. 20% of the face value of equity shares of ₹10 each. November 4, 2024 is the record date for the payment of the interim dividend.
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