Oberoi Realty’s Expansive Plans: New Borivali Mall by Early 2025 and Gurugram Project Launch Slated for Late 2025

Oberoi Realty, a leading real estate player headquartered in Mumbai, is ready to make waves with its second major retail destination, Sky City Mall, set to open in Borivali by January 2025. This mall marks the company’s second retail hub in Mumbai, following its flagship Oberoi Mall in Goregaon East. Meanwhile, Oberoi’s ambitions extend beyond Mumbai, with a luxury residential project in Gurugram slated for launch as early as September 2025.

Sky City Mall: Oberoi’s New Retail Star in Mumbai

Construction is in full swing at Sky City Mall, a key feature of Oberoi Realty’s larger Sky City project in Borivali. Leasing is progressing well, with Oberoi Realty aiming for a mid-December opening to tap into the festive shopping season. However, if minor delays arise, the company is confident that the mall will be fully operational by January 2025. Oberoi Realty’s Chairman and MD, Vikas Oberoi, shared his optimism about the project’s readiness, adding, “We’re targeting a high occupancy rate, ideally 80% to 90%, within a few quarters post-launch.”

Oberoi’s Bold Move into Gurugram Real Estate

In November 2023, Oberoi Realty acquired 14.81 acres in Sector 58, Gurugram, marking its first foray outside the Mumbai Metropolitan Region (MMR). Purchased for ₹597 crore, the land will host a luxury residential project with approximately 2.6 million square feet of potential floor space. With designs nearing completion and approvals underway, Oberoi expects to launch this upscale project by mid-2025, reinforcing its commitment to long-term growth in the National Capital Region (NCR).

Raising Funds for Expansion

With big plans on the horizon, Oberoi Realty recently secured board approval for a ₹6,000 crore fundraise. The funds will support new acquisitions, including large land parcels, to accelerate the company’s growth trajectory. “India’s real estate sector is booming, and we want to leverage this momentum,” said Oberoi, underscoring the company’s ambitions for expansion.

Strong Financial Growth in Q2FY25

Oberoi Realty’s financial performance in Q2FY25 showed promising growth. Booking values surged by 74%, reaching ₹2,509 crore compared to ₹1,441 crore in the same period last year. Profit After Tax (PAT) for the first half of FY25 also grew by 33%, totaling ₹1,173.71 crore. While PAT for the quarter remained steady, rising slightly from ₹584 crore in Q2FY24 to ₹589 crore in Q2FY25, the overall performance reflects Oberoi Realty’s upward trajectory.

With a new retail venture in Mumbai and a luxury residential project in Gurugram, Oberoi Realty is positioning itself as a powerhouse across both Maharashtra and NCR, driving its vision of expansion and sustainable growth in the Indian real estate market.