Oberoi Realty has invested an additional ₹268.50 Crore in its wholly owned subsidiary, Centerstage Realty Private Limited. This investment is to fulfill the minimum share capital requirement for a 99-year lease of approximately 45,371 sq. mt. of railway land in Bandra East, Mumbai. Centerstage Realty, incorporated on June 2, 2026, will undertake the development of this prime land, further solidifying Oberoi Realty’s strategic expansion in the Mumbai real estate market.
Oberoi Realty Strengthens Subsidiary for Major Project
Oberoi Realty Limited announced on June 9, 2026, a significant investment in its wholly owned subsidiary, Centerstage Realty Private Limited. This move is directly related to a recently acquired lease for a prime parcel of railway land located in Bandra East, Mumbai. The land, spanning approximately 45,371 square meters (about 11 acres), is situated adjacent to the Western Express Highway.
Project Development and Investment Details
The lease agreement for this land, secured through a highest bid process with the Railway Land Development Authority (RLDA), is for a tenure of 99 years. The project, intended for development, will be managed by Centerstage Realty Private Limited, which was specifically incorporated for this purpose on June 2, 2026. Following an initial paid-up share capital of ₹1 Lakh upon incorporation, Oberoi Realty has now subscribed to further shares worth ₹268.50 Crore in Centerstage Realty on a rights basis. This substantial investment ensures that the minimum paid-up and subscribed share capital requirement of ₹268.50 Crore for the special purpose vehicle (SPV) is met, as stipulated by the bid documents. The lease agreement itself will be executed by RLDA directly in favor of the SPV.
Company Background and Future Outlook
Centerstage Realty Private Limited is a newly incorporated entity, therefore, details regarding its size, turnover, and history are not applicable. Its primary business is real estate construction and development. The acquisition of shares by Oberoi Realty totals 100% control over Centerstage Realty. This strategic investment underscores Oberoi Realty’s commitment to expanding its development pipeline and leveraging significant land acquisition opportunities in key urban locations. The company had previously communicated its successful bid to RLDA on February 4, 2026, and further paid an amount of ₹247.50 Crore to RLDA within 30 days of the letter of demand.
Source: BSE
