Oberoi Realty Ltd Successfully Concludes Acquisition of Approximately 75 Acres of Land in Thane

Oberoi Realty Limited has successfully executed the acquisition of lands situated at Pokhran Road 2, Thane, Maharashtra, along with the structures thereon, as outlined in the Memorandum of Understanding ("MOU") with NRB Bearings Limited ("NRB"). The completion of this acquisition was contingent upon meeting specific terms and conditions stipulated in the MOU.

Having fulfilled the aforementioned terms and conditions, the company officially registered the conveyance deed for the acquired land, measuring approximately 25,700 square meters (approximately 6.4 acres) according to title deeds, on December 5, 2023. Oberoi Realty Limited has taken possession of the property, marking the successful conclusion of this acquisition. The total consideration for the acquisition amounts to approximately Rs. 196 Crore, which has been paid in full.

This strategic move solidifies the company's position, as it has now completed the acquisition and consolidation of contiguous parcels of land, totaling approximately 75 acres, situated at Pokhran Road 2, Thane, Maharashtra. The successful conclusion of this transaction reflects Oberoi Realty Limited's commitment to strategic expansion and development initiatives in key locations.

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