News: Oberoi Realty Expects Gurugram Plan Approvals in 30-40 Days-02-02-2026
Oberoi Realty is not experiencing the housing slowdown being reported elsewhere, Chairman and Managing Director Vikas Oberoi has said, arguing that any softness depends on the developer, the location and the product. He added that the Mumbai-based listed company expects plan approvals for its Gurugram project within 30 to 40 days.
Speaking on the Q3FY26 earnings call on January 20, Oberoi pointed out that the company had raised prices at its Goregaon and Borivali projects without any slackening of demand, and said it meets all three tests.
He attributed the wait for the Gurugram launch to repeated design refinement rather than regulatory delay. The company took feedback in Delhi-NCR on matters such as deck depth, which began at 8 feet and was then pushed to 10 feet, 12 feet and beyond. Oberoi called working in Gurgaon a dream, saying approvals are easy and the state is helpful, but the plans changed because the company kept improving the product.
Once plan approvals arrive, the company will apply for RERA registration immediately and launch as soon as that is granted, he said, describing the situation as touch-and-go and adding that the company is trying hard to speed things up.
This will be Oberoi Realty’s first project in Delhi-NCR. In April 2025, Oberoi said the company would build a high-end luxury development in Gurugram with apartments of 5,000 to 8,000 sq ft, likening it to a possibly smaller version of its Three Sixty West project. In November 2023, the company announced it had acquired 14.81 acres in Sector 58, Gurugram, for Rs 597 crore, with potential for up to 2.6 million sq ft of floor area.
On the quarter’s performance, ICICIDirect Research said Oberoi Realty’s pre-sales run-rate softened in Q3FY26 because there were no new launches and traction was lower at Three Sixty West, Elysian, Enigma and Sky City. Collections fell 30% year on year and 28% quarter on quarter to Rs 975 crore. Occupancy improved sequentially at commercial and retail assets including Commerz II and III and Sky City Mall, while revenue booking and EBITDA margins were broadly in line.
