Oberoi Realty Launches Luxury Residential Project in Thane’s Kolshet
Mumbai-based real estate developer Oberoi Realty Ltd has announced the launch of Forestville by Oberoi Realty, their first luxury residential project in Kolshet, Thane. This project aims to craft an environment that blends nature and urban living, drawing inspiration from the design principles of ‘biophilia.’
Forestville: A Blend of Nature and Urban Living
Spread across 18 acres, Forestville will consist of five residential towers. The company has launched the first phase of this development, which comprises three towers. The apartments at Forestville will mostly feature spacious three-bedroom apartments, starting from 1,090 square feet, priced at Rs 1.87 crore onwards, according to Oberoi’s regulatory filing.
The project boasts green spaces, water features, and a design rooted in eco-consciousness. Vikas Oberoi, Chairman and Managing Director of Oberoi Realty, expressed excitement about the company’s foray into Thane with Forestville.
Oberoi Realty’s Expansion and Financials
Earlier, Oberoi Realty reported that it had bought a nearly 15-acre land parcel in Gurugram for Rs 597 crore to develop a luxury housing project, marking its entry into the Delhi-NCR property market. The company has reported a 17% decline in sale bookings to ₹965 crore for the second quarter of this fiscal. Its sale bookings stood at ₹1,156 crore in the year-ago period.
On the financial front, Oberoi Realty has reported a 43% increase in consolidated net profit at ₹456.76 crore for the second quarter of this fiscal on higher revenue. Its net profit stood at ₹318.62 crore in the year-ago period. Total income rose to ₹1,243.80 crore during July-September 2023-24 from ₹711.79 crore in the corresponding period of the previous year.
Shares of Oberoi Realty Ltd ended at ₹1,349.80, up by ₹7.40, or 0.55%, on the BSE. For more information about Forestville by Oberoi Realty and its luxury residential project in Thane’s Kolshet, visit the official announcement.
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