Oberoi Realty - Annuity Portfolio On Track For Significant Scale Up: Motilal Oswal

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy. .Motilal Oswal Report.We recently visited Oberoi Realty Ltd.’s Goregaon and Borivali projects to understand the progress of its annuity portfolio and also the sales and leasing strategies for its residential and annuity assets. Below are the key takeaways:Oberoi Realty is expecting to receive occupancy certificate for Commerz III (Goregaon) by end of FY24. Further, Morgan Stanley – which has leased 1.1 million square feet (carpet area), accounting for ~50% of the total area – has commenced fit-outs and likely to start paying rentals beginning FY25. The leasing for the balance area will commence only six months prior to the completion and Oberoi Realty expects to fully lease out the area by FY25. At full occupancy, Commerz III has the potential to generate Rs 6.0-6.5 billion of annual rentals (including CAM) beginning FY26. The company’s Borivali mall is on track to commence operations during Oct-Nov 2023.The much awaited launch of Kolshet Road project in Thane (earlier expected in Q4 FY23) could spill over to Q1 FY24E but there is a strong possibility of a new tower launch at Elysian that could offset the delay. While the management has always reiterated its intent to acquire new projects, except for an eight-acre land acquired from Blue Star in Thane, no major new land deal has materialized yet. .Click on the attachment to read the full report:.KIMS - Sunshine, Nagpur Units Scalability On Track: Prabhudas Lilladher.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Oberoi Realty - Annuity Portfolio On Track For Significant Scale Up: Motilal Oswal

Key residential projects expected to be launched in FY24.

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