Vikas Oberoi was reacting to a question about the saturation in the Gurugram real estate market, where the company is expected to debut its project
Vikas Oberoi, CMD, of Oberoi Realty, while reacting to a question about the saturation of the Gurugram real estate market, said that ‘Jab jaago tab sawera hota hai, koi tension ki baat nai hain’ (It’s morning when you get up, there is nothing to worry). The company has purchased land prudently for its first project in Delhi NCR, Oberoi said during the Q1FY26 conference call on July 22.
Oberoi said the company has all the permissions for its first project in Gurugram and is getting ready for the launch.
Speaking about whether the Gurugram project will have demand similar to their Mumbai’s Three Sixty West Project, Oberoi said, “If the story of Gurugram is completely over, then I cannot say anything, I mean, if you say so. But otherwise, I mean, I’m just saying that it is like any other day. We are in our comfort zone, and we will build quality, and I’m sure we’ll do it.”
Work started on the Gurugram site of Oberoi Realty
According to Oberoi, the company has started the demolition work at the site and has also started its office in Gurugram.
“We are formally and physically present there. Design work is complete. Contracts have been negotiated, ready to be issued — almost likely issued. So, all ready to roll now. And yes, the entire approval process is also complete. Today, we have the license in our name, and the land is in our name. So, the title for the entire property is clear,” Oberoi said during the call.
Evaluating more than 1,000 land proposals every year
During the call, Vikas Oberoi said that the company is evaluating more than 1,000 land proposals every year.
“We have stringent conditions through which we take every proposal. It has to meet all criteria. Once they do that, then we are most happy to go ahead and close the deal,” Oberoi said.
“And we are currently focusing on Mumbai and NCR. We are in no hurry, and we want to establish our sales in Gurugram and then look at something new. And Mumbai, we continue to look at all the good suburbs where you do not have to push a product. There is a pull factor with location, with the quality of the product we make, and then buyers come in. We don’t want to go into weak locations,” Oberoi said.
All about Oberoi Realty’s first real estate project in Delhi NCR
In April 2025, Vikas Oberoi said the company would develop a high-end luxury project in Gurugram, featuring apartments ranging from 5,000 to 8,000 sq ft.
In November 2023, the company announced the acquisition of 14.81 acres of land in Sector 58, Gurugram, Haryana, for ₹597 crore. According to the company, the land has the potential to develop up to 2.6 million sq ft of floor area.
“It is very similar to what we are doing, maybe a smaller version of Three Sixty West. It’s high-end, high-quality, and it’s very well designed,” Oberoi had said.