Prime Highlights
- Oberoi Realty recorded gross bookings of about ₹8,109 crore at its Three Sixty North project in Gurugram.
- Nomura maintained a “buy” rating and raised its target price to ₹2,090 per share.
Key Facts
- Oberoi Realty is a real estate developer focused on premium residential, commercial, and mixed-use projects.
- Three Sixty North is the company’s first luxury residential project in the National Capital Region.
Background
Oberoi Realty Ltd. shares rose more than 2% in the first week of July after the company announced gross bookings of around ₹8,109 crore at its luxury residential project, Three Sixty North, in Gurugram. The strong response also prompted brokerage firm Nomura to raise its target price for the stock to ₹2,090 per share from ₹1,850 while maintaining its “buy” rating.
Nomura said the successful launch of the first phase of Three Sixty North reflects strong demand for premium housing. The brokerage expects the company’s FY27 pre-sales to grow 123% compared with the previous year. It added that Oberoi Realty’s expansion into new markets and its upcoming project launches could support further growth and improve investor confidence.
According to the company’s exchange filing, Three Sixty North is Oberoi Realty’s first luxury residential development in the National Capital Region. The project has recorded bookings for about 13.52 lakh square feet of RERA carpet area, equivalent to 23.1 lakh square feet of saleable area.
The project is spread across nearly 14.8 acres on Golf Course Extension Road in Sector 58, Gurugram. It will include seven residential towers, landscaped open spaces, Club Three Sixty North, and a retail and café boulevard.
Chairman and Managing Director Vikas Oberoi said the company’s entry into the NCR represents an important milestone and reflects its growth strategy based on its development philosophy rather than geographic expansion alone.
Among 27 analysts covering the stock, 17 have a “buy” rating, eight recommend “hold,” and two suggest “sell.” The stock has gained over 23% in the past month and more than 16% so far this year.