Page 4 - Oberoi Realty

Oberoi Realty buys 60-acre land from GlaxoSmithKline in Thane for Rs 890 cr

A small piece of land measuring about 1,410 square meters is still to be transferred in favour of the company owing to a stay order passed by the Bombay High Court

Indian developers slump on bankruptcy and tax woes; HDIL, Oberoi shares dip

The share slump highlights India's intensifying demand slowdown

Oberoi Realty, Capacite Infra stocks fall on Income Tax search buzz

The stock has fallen 5.84 per cent since Tuesday

Oberoi Realty, Capacit'e Infra fall up to 8% on reports of raid by I-T dept

Earlier this month, the I-T department had conducted searches at Mumbai and Pune-based offices of four other realty firms, including Hub Town, Atul Projects, Wadhwa Group and Radius Developers.

Oberoi Realty surges 15% in three days after a strong Q2 result

The stock moved higher by 9% to Rs 431 on Wednesday, extending its 6% gain in past two days on the BSE.

Oberoi Realty gains as brokerage initiates coverage with 'buy' rating

The stock was up 6% to Rs 481 on the BSE in early morning trade after the brokerage firm Motilal Oswal Securities initiates the coverage with 'buy' rating on the stock.

Strong earnings growth ahead for Oberoi Realty

New launch pipeline and progress on current projects should help grow its net profits by over 80% annually over the next couple of years

Thane land deal raises Oberoi Realty's prospects

On a day when the markets fell for the second consecutive session, Mumbai-based Oberoi Realty was up 3 per cent after the company acquired a 60 acre land parcel in Thane (total saleable area of 8.3 million square feet) for Rs 550 crore from GlaxoSmithKline Pharma. The pharma multinational's stock ended flat.The reason for investor interest in Oberoi Realty is the steep discount of the deal and growth visibility that it gets with the acquisition. The latest deal values the per acre price at under Rs 9.3 crore, while the circle rate and recent transactions peg it at closer to Rs 30 crore an acre. JM Financial's Abhishek Anand says the reason for the same is due to size of the land parcel, lack of key approvals and higher regulatory costs.What makes Oberoi undertake such moves is that unlike the more leveraged players, the company's balance sheet is strong with debt-to-equity of 0.1 times, which allows it to go for large outright purchases. Further, given that the land in question has ...

Oberoi Realty successfully bids for Thane property; stock hits new high

The stock hit a record high of Rs 438, up 8% on BSE in other wise weak market in intra-day trade

Oberoi Realty to buy GSK Pharma's Thane plot for Rs 555 crore

GSK's board approved the land sale transaction in its meeting on Friday

Oberoi Realty shelves plans to float mall JV

Mumbai, 3 AugustMumbai-based Oberoi Realty has put off its plans to float a joint venture with private equity investors for its upcoming malls. It plans to use its internal cashflows and debt to invest in its upcoming malls instead.The company was in talks with investors, such as US-based Morgan Stanley, Singapore's GIC and others, to float a joint venture, which was to have a corpus of ~1,000 crore. Oberoi Realty was expected to hold about 75 per cent. When asked, Vikas Oberoi, chairman and managing director, said the company had enough cashflows to invest in its projects and, hence, did not need to go for external funding.Oberoi Realty had a debt of ~838 crore and cash and bank balance of ~352 crore as on March 31, 2017. "They can get debt at 7-8 per cent. Why to dilute equity and share rental income," said a source.According to sources, Oberoi is planning to build malls in Mumbai's Worli and Borivali areas. It already has an operational mall at Goregaon. "The company has plans to ..

Oberoi Realty sales momentum to continue

The company posted better than expected results for the June quarter

Oberoi Realty hits 52-week high on robust Q1 results

The stock surged 8% to Rs 322, also its 52-week high on the BSE in early morning trade.

Oberoi Realty in talks with Morgan Stanley, GIC for JV

Realty firm may hold majority stake in Rs 1k-cr venture; plans to build 2-3 malls

Oberoi Realty dips on weak Q4 results

The company reported a drop in its net profit to Rs 65 crore for this quarter on drop in sales of residential preoperties