Oberoi Realty sells 2.1 lakh sq. ft. of apartments worth ₹970 crore in Mumbai's Goregaon
Oberoi Realty has sold apartments ranging from 2,009 sq. ft. to 3,430 sq. ft. in its flagship integrated development, spanning 80 acres in Goregaon, Mumbai
Mumbai-based listed real estate developer Oberoi Realty has announced the launch of Elysian Tower D at Oberoi Garden City in the Goregaon area of Mumbai. The project has registered a gross booking value of ₹970 crore for 2.1 lakh sq ft (RERA carpet area) with a total saleable area of 3.25 lakh sq ft, it said in a regulatory filing.
Spanning across 80 acres, the development offers a variety of 3- and 4-BHK residences, with carpet areas ranging from 2,009 to 3,430 sq. ft.
This mixed-use project includes residential units, Grade-A office spaces, Oberoi Mall, Oberoi International School, and the luxury hotel, The Westin Mumbai Garden City.
“We are truly delighted by the overwhelming response to the launch of Elysian Tower D in Oberoi Garden City, Goregaon. This success not only reflects the enduring strength of the Oberoi Realty brand but also validates our long-term vision of creating integrated urban developments that redefine luxury living," said Vikas Oberoi, Chairman and Managing Director, Oberoi Realty Limited.
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"The track record established by the sales in Elysian Towers A, B and C, and now the exceptional response to Elysian Tower D, is a strong endorsement of the vibrant ecosystem we have built at Oberoi Garden City, Goregaon. As we continue to shape Mumbai’s skyline, our focus remains on delivering sustainable, design-led and future-ready developments that enrich lives and communities for generations to come," Oberoi added.
Oberoi Realty Ltd. announced its Q4 results for the financial year ended 2024-25 on April 28. According to a Mint report, the company reported a 45% fall in its consolidated net profits for the fourth quarter to ₹433.17 crore, compared to ₹788.03 crore in the same quarter of the previous fiscal year.
The company's revenue from core operations dropped 12.5% to ₹1,150.14 crore in the fourth quarter of the 2024-25 fiscal, compared with ₹1,314.77 crore in the same period a year ago, the report said.
What are the most popular residential formats in the Mumbai real estate market?
In 2024, 50% of properties registered in the Mumbai real estate market were smaller than 650 sq ft, with nearly 60% comprising 1 BHK and 2 BHK apartments, highlighting affordability as the key factor influencing apartment sizes, according to registration data from the Maharashtra Real Estate Regulatory Authority (MahaRERA).
According to MahaRERA data, 36,274 of the 63,244 units launched in the calendar year 2024 were 1 BHK and 2 BHK apartments. Around 15%, or over 10,000 units, were 3 BHK apartments, and around 3% or nearly 2,000 units, were 4 BHK apartments.
