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Oberoi Realty moves in the right direction to impress investors
Mint Mumbai
|November 28, 2023
Oberoi Realty Ltd has grabbed investors' attention of late, and for all the right reasons. Shares of the Mumbai-based real estate developer climbed to a new 52-week high of ₹1,415 on 21 November in response to two crucial developments.
The company announced the launch of its much-awaited luxury residential project Forestville in the Kolshet area of Thane, near Mumbai. The project will be spread across 18 acres and consist of five residential towers, predominantly with 3-BHK apartments starting at ₹1.87 crore. Recall that the delayed launch of Thane projects (Kolshet and Pokhran) was seen as an overhang for the stock. The Pokhran Road project is now expected to be launched in Q4FY24.
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