Oberoi Realty stock surges after signing Tardeo land redevelopment agreement

Oberoi Realty saw a nearly 1% increase in its stock value on Thursday, following the announcement of an agreement for the redevelopment of land in Tardeo. The project, which is adjacent to a property currently being jointly redeveloped by Oberoi Realty and tenanted by the Municipal Corporation of Greater Mumbai, is expected to generate 250,000 square feet of free sale components, according to a BSE notification.

Over the past year, Oberoi Realty’s stock has yielded a return of 26.19%, and over the last six months, it has given a return of 39.05%, outperforming the Nifty50 index.

Motilal Oswal has maintained a neutral rating on Oberoi Realty, with a target price set at Rs 1,200 ($1 = Rs 83.16). This comes in light of the company’s recent performance and future prospects tied to ongoing and new redevelopment projects.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.