Nature of the Event

Disclosure of an investment in the share capital of a wholly owned subsidiary, made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Key Quantitative Figures

  • Investment Amount: ₹268.50 Crore
  • Initial Subsidiary Capital: ₹1 Lakh
  • Land Area for Development: 45,371 sq. mt. (approx. 11 acres)
  • Lease Term: 99 years
  • Amount paid to RLDA: ₹247.50 Crore
  • Number of Shares Acquired: 26,85,00,000 equity shares of ₹10 each

Dates of Action

  • Bid emerged as highest: Informed to exchanges on February 4 & 5, 2026.
  • RLDA payment: Made within 30 days of the letter of demand.
  • Subsidiary Incorporation: June 2, 2026.
  • Share Subscription: June 9, 2026.
  • Disclosure Date: June 9, 2026.

Parties Involved

  • Listed Entity: Oberoi Realty Limited (Scrip Code: 533273).
  • Subsidiary: Centerstage Realty Private Limited.
  • Counterparty: Railway Land Development Authority (RLDA).

Purpose or Stated Rationale

The investment is made to comply with the bid document requirements from the Railway Land Development Authority (RLDA). The bid was for the grant of a 99-year lease to develop approximately 11 acres of railway land in Bandra East, Mumbai. The project must be undertaken by a Special Purpose Vehicle (SPV), which is this newly incorporated subsidiary. The minimum paid-up share capital requirement for the SPV, as per the bid, is ₹268.50 Crore.

Financial and Operational Impact

  • The investment of ₹268.50 Crore is a cash outflow for Oberoi Realty Limited.
  • The subsidiary, Centerstage Realty Private Limited, is now fully capitalized to undertake the project.
  • The project involves the development of real estate on a prime 11-acre land parcel in Mumbai.

Capital Structure Impact

  • The transaction increases the investment in subsidiary on Oberoi Realty's balance sheet by ₹268.50 Crore.
  • Oberoi Realty's shareholding in Centerstage Realty Private Limited remains at 100% post this investment.

Annexure Details

  • Target Entity: Centerstage Realty Private Limited. A newly incorporated company, so size and turnover are not applicable.
  • Related Party Transaction: Not applicable. Promoter/promoter group has no interest in the acquired entity.
  • Industry: Real estate construction - development.
  • Objects of Acquisition: As stated in the covering letter (to undertake the RLDA project).
  • Governmental Approvals: Not applicable for this acquisition.
  • Time Period: The acquisition is completed.
  • Consideration: Cash.
  • Cost of Acquisition: ₹268.50 Crore for 26,85,00,000 equity shares of ₹10 each at par.
  • Shareholding Acquired: 100% control.
  • Background: Entity incorporated on June 2, 2026. Business is to act as the SPV for the RLDA project. No history or turnover. Country of presence is India.