Oberoi Realty open to land buys and joint development deals across NCR

Oberoi Realty is open to buying land or entering joint development agreements in Delhi, Noida and Gurugram, chairman and managing director Vikas Oberoi said on 19 October 2026. Speaking on the Mumbai-based developer’s September-quarter earnings call, he said the company was willing to consider projects across the National Capital Region (NCR), but did not name a new site or deal.

“We are open to all the three NCR, Noida, Gurgaon and Delhi. Open to looking at projects everywhere, including JDAs or outright,” Oberoi said on the call. He said the company would consider buying suitable land parcels or working with landowners through a joint venture. A joint development agreement, or JDA, allows a landowner and developer to develop a site together under agreed terms.

No new parcel disclosed

Oberoi also said the company was open to buying land for malls, offices and other income-generating assets in the region. He declined to give details of deals under negotiation, saying that sharing them would reveal too much before they were completed. The company would disclose what it had bought once a deal closed, he said.

That makes the statement an indication of where Oberoi Realty may expand, rather than an announcement of an acquisition. No purchase price, development partner or timeline for a new NCR project was provided. The company’s next step in the region will depend on whether it closes a land purchase or partnership and secures the required approvals.

Gurugram is the company’s first NCR project

Oberoi Realty has already entered the market with Three Sixty North, a residential project in Sector 58, Gurugram, near Golf Course Extension Road and Southern Peripheral Road. It is the company’s first residential development outside the Mumbai Metropolitan Region. The 14.8-acre project is planned in two phases, with 832 apartments across six towers.

The company has put the project’s total cost at about ₹6,000 crore and its revenue potential at about ₹16,000 crore across both phases. It recorded gross bookings of approximately ₹8,109 crore at the project, based on figures disclosed in July 2026. Management said the second phase could be meaningful in FY28, subject to approvals and the readiness of an experience centre. Oberoi said the company did not want to rush into that phase.

The Gurugram project provides a reference point for the developer’s NCR plans, but the call did not establish that any further site has been secured. For landowners, the company’s comments signal that it is considering both outright purchases and partnership structures. For buyers, there is no newly announced project, price or launch date to act on.

Construction spending and approvals

Finance director Saumil Daru said Oberoi Realty expects to spend about ₹1,000 crore on construction during the financial year. Oberoi also said some projects could be delayed because regulatory approvals were taking longer than expected. The company was ready with designs for certain work but was waiting for clearances, he said.

The next concrete marker for the NCR market is therefore a completed land deal or a formal project announcement, followed by details of its approvals and launch schedule. Until then, Oberoi Realty’s stated interest covers Delhi, Noida and Gurugram, while Three Sixty North remains its named residential project in the region.