IN THE MEDIA
PrintGood morning ladies and gentlemen,
Thank you for joining us for the 25th Annual General Meeting of Oberoi Realty Limited. On behalf of the Board Members and Oberoi Realty, I would like to welcome you all and also thank you for being a part of this event.
India's economy has been a shining beacon amidst the volatility and uncertainties of the global ecosystem. Key policy measures focusing on innovation and strengthening of manufacturing activities have helped the economy build resilience and achieve high growth rate and thereby placing us on the fast track to become a financial and economic superpower.
The real estate sector has also been at the forefront of this economic revival post Covid. Indian real estate has emerged as a preferred investment avenue for investors as well as homebuyers.
I am delighted to inform you that your Company has once again achieved outstanding performance across all our verticals during the financial year. In the last fiscal, we reached new heights with our best annual profitability figures and the highest ever gross booking value. These achievements are a testament to our efficiency, execution ability, and commitment to excellence across our operations.
Residential real estate continues to experience strong demand, due to factors like increased earning potential, the desire for a better standard of living, and agrowing base of aspirational consumers. At Oberoi Realty, we have leveraged innovation, technology, thoughtful design, and our commitment to sustainability to add value to our residential offerings.
The recovery across the office segment remains measured on account of continued global macro headwinds. However, as employees continue to return to offices, corporate demand for sustainable grade A offices is on the rise. Your Company is well-placed to meet this demand, due to our focus on providing a complete ecosystem and state-of-the-art facilities in our developments.
Our retail business has witnessed a robust rebound owing to increased consumption, growing footfalls, and an overall positive leasing interest from retailers who are now back into the growth mode. We look forward to thelaunch of our Sky City Mall in the western suburbs of Mumbai, which promises to be a remarkable addition to the retail landscape of Mumbai.
In the hospitality segment, we anticipate the current travel momentum to continue, and believe that quality supply in the luxury space will take time to build and reach the market. Your Company is actively expanding its hospitality offerings in Borivali and Thane to leverage this.
On the business development front, opportunities are immense for us to be selective. We are actively exploring growth potential in various markets to capitalize on the upswing in the real estate sector. Alongside a calibrated approach to launch new projects in Thane and ensuring timely execution, we remain focused on acquiring clean land parcels, with meticulous due diligence and research.
Your Company is committed to embedding environment, social, and governance (ESG) principles throughout our value chain. We are dedicated to advance sustainable operations, foster diversity in our workforce, improve governance and transparency, and make a positive impact on the world around us.
Our success is deeply rooted in our people-first collaborative culture. We have fostered a culture of innovation and learning and also continue to invest in leadership development programs for our people.
I thank all our employees for their contribution in delivering another year of profitability and growth. I also take this opportunity to thank the Board, the bankers and all our stakeholders for their invaluable contributions to the company. Lastly, I want to thank the shareholders for their unwavering faith and support in Oberoi Realty.
I wish you all a healthy, happy, and successful year ahead!
Thank You.
Best Regards,
Vikas Oberoi
Chairman & Managing Director
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