Oberoi Realty was incorporated as Kingston Properties Private Limited on May 8, 1998 under the Companies Act, 1956 in Mumbai. The name of the company was changed to Oberoi Realty Private Limited on October 23, 2009. The company was converted into a public limited company on December 14, 2009 and consequently, the name was changed to Oberoi Realty Limited.
The company is a real estate development company operating in Mumbai, focused on premium developments. The company has established a strong brand and a successful track record in the real estate industry by developing innovative projects through its emphasis on contemporary architecture, strong project execution and quality construction. While its focus is on residential projects, it has a diversified portfolio of projects covering key segments of the real estate market, which target the upper end of the respective income or market segment. It develops residential, office space, retail, hospitality and social infrastructure projects in mixed-use and single-segment developments.
The company uses a knowledge-based approach from internal and external sources in making land acquisition, development and lease/sales decisions. It also utilizes an outsourcing model that emphasizes quality design and construction. It works with several reputed international architects and domestic architects and contractors. The company believes that this outsourcing model provides us with the scalability required to undertake large developments.
Oberoi Realty currently follows a sale model for its residential projects and a lease model for a portion of its office space and retail projects as it believes this provides the company with stable cash flows. In hospitality projects, it currently follows an operating agreement model, whereby the hotel is owned by the company and operated by a hotel chain.
The company currently has eight ongoing and 19 planned projects, which it expects to provide a total saleable area of approximately 21,316,528 square feet.
Subsidiaries of the company