Oberoi realty enters into agreements with JW Marriot for two properties in Mumbai

Mumbai based real estate developer Oberoi realty enters into agreement with luxury hospitality brand Marriott International to develop two Marriott properties in Oberoi realty’s existing projects in Thane and Borivali.

One JW marriott will be developed in 75 acres Thane project named as Thane garden city and second property will be developed in as d Mumbai Marriott Hotel in Sky city Borivali which is a spread 25 acres. Both the properties are set to be completed in 2027-2028.Oberoi Realty Ltd. is India’s leading real estate development company, headquartered in Mumbai. It is focused on premium developments in the residential, office space, retail, hospitality, and social infrastructure verticals

In the recent quarterly numbers company reported a overall a subdued performance owing to lower revenues which declined 35% YoY to ₹1054 crores vs ₹1629 crore in Q3FY23. On the operational front the EBITDA declined 45% YoY to ₹509 crore and net profit declined by 48% to ₹360 crore vs ₹702 crore in Q3FY23. The share price of Oberoi realty is trading flat at ₹1320 per share