Oberoi Realty - Clarity On Proposed Worli Transaction Emerges: ICICI Securities
It has issued a clarification to stock exchanges w.r.t its proposed 50% area buyout in its super-luxury 360 West, Worli project
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ICICI Securities Report
Oberoi Realty Ltd. has issued a clarification to stock exchanges on November 24, 2022 with-respect-to its proposed 50% area buyout in its completed super-luxury 360 West, Worli project for a consideration of up to Rs 40 billion.
While investors have been concerned over a possible rise in the company’s debt levels owing to this proposed transaction, Oberoi Realty has sought to allay these concerns and guides that this will be a cash neutral transaction for the company.
Key risks are a decline in demand for residential properties and weakness in office leasing.
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