Oberoi Realty Open to NCR Land Buys and Joint Development Deals

What was announced

On 19 October 2026, Vikas Oberoi said the company is open to expanding across the National Capital Region (NCR) through land purchases or joint development agreements. He made the remark on the September-quarter earnings call.

He named three locations: "We are open to all three – Noida, Gurgaon and Delhi, (and are) open to looking at projects everywhere, including (through) JDAs or, you know, outright."

On deal structure, he said: "If they have good land parcels, we're open to doing either, buy the land or do a JV." He added that the company is also open to buying land for malls, offices and other annuity assets in the NCR.

What it is, and what it is not

This is a statement of intent. No specific new NCR site, price or deal was named. Oberoi said he could not disclose what the company is negotiating, saying: "Obviously, BD efforts are on, and as soon as we close, we will let you know what we bought."

Finance director Saumil Daru gave the spending plan for the year: "For the whole year will be in the region of about INR 1,000 odd crores." The figure covers construction across the company's projects.

Timing and approvals

Oberoi said some projects could be delayed because regulatory approvals are taking longer than expected. He said: "We are ready with our design and everything, but just waiting for certain clearances."

Company results context

Oberoi Realty reported a consolidated net profit of ₹761.65 crore for the second quarter of FY27, flat with a 0.2% rise year on year. Revenue fell 6.1% to ₹1,670.95 crore in the same quarter, according to Business Standard reporting on 16 October 2026.

The NCR background

The NCR remarks follow the company's entry into the region through Gurugram. The company launched the first phase of Three Sixty North, a premium housing project in Sector 58 on Golf Course Extension Road, Gurugram, on 29 June 2026. It is the company's first residential development outside the Mumbai Metropolitan Region.

The project spans 14.8 acres and will be built in two phases with 832 apartments across six towers. The company has said the total project cost is about ₹6,000 crore and the revenue potential across both phases is about ₹16,000 crore.

Gross bookings of approximately ₹8,109 crore were reported for the project in July 2026. The bookings cover about 13.52 lakh sq ft of RERA carpet area, or 23.10 lakh sq ft of saleable area.

The Gurugram land was acquired under an agreement for sale with Ireo Residences Company Pvt Ltd and others for about 14.816 acres (59,956.20 square metres) in Sector 58. Consideration is event or time-linked monetary payment of up to ₹597 crore, plus a certain area in the project for existing homeowners and others. The land was acquired in November 2023, and the sale deed was completed on 7 May 2024, with stamp duty of ₹33.77 crore paid.

Vikas Oberoi said at the launch press conference: "We feel confident now that our brand is transportable to the NCR market."

What it means for buyers and investors

The statement does not change any project, price or booking for home buyers today. No new NCR project has been launched or priced under this announcement.

For investors, the main signal is that the company intends to add land in Noida, Gurugram and Delhi, through both outright purchases and JDAs. The company has also said it would consider malls, offices and other income-producing assets in the NCR. Any future deal would be disclosed once closed.

For buyers in Gurugram, the company's existing Sector 58 project is the only NCR residential project it has named so far. Buyers considering that project should check its RERA registration and sale terms directly.

What comes next

The company said it would announce NCR land purchases once they close. No dated NCR land deal has been announced as of 20 October 2026.

On the Gurugram project, management said the second phase could be meaningful in FY28, once approvals are in place and an experience centre is ready. Vikas Oberoi said: "We do not want to immediately rush into that. We want to make sure that we are ready with our experience center."

Other company timelines mentioned on the call include the commissioning of a Ritz-Carlton hotel in Q1 FY28. The Mumbai launch calendar for the second half of FY27 includes Aurelius at Pedder Road, Tower A at Jardin in Thane, another Forestville tower, an Alibaug project, commercial buildings in Mulund and Sky City, and the Rally Wolves project in Mulund.