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Oberoi Realty gets reality check
Mint Kolkata
|January 23, 2025
Shares of Oberoi Realty Ltd are on shaky ground, plummeting 13% in the past two trading sessions.
The fact that sales momentum did not sustain in its marquee project Three Sixty West in Mumbai's Worli and other projects has weighed heavily on sentiment.
Oberoi sold only two units in Three Sixty West in Q3FY25, compared to a run rate of six units in the previous two quarters. Sales in Eternia, Enigma (both in Mulund), Sky City (Borivali) and Forestville (Kolshet Road, Thane) were also muted.
Oberoi took 5-15% price hikes in key projects—Sky City, Elysian, Eternia/Enigma—in Q3, which may take time to get absorbed.
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