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Good morning, Ladies and Gentlemen,

Welcome to the 24th Annual General Meeting of Oberoi Realty Limited. On behalf of the Board Members and Oberoi Realty, I would like to thank you for being a part of this event.

The beginning of the financial year 2021-22 looked a bit cloudy with another slowdown due to the second-wave of Covid-19 affecting everyone. However, as a nation, we have shown tremendous resilience to bounce back under the able leadership of our Honorable Prime Minister, Mr. Narendra Modi.

I am pleased to say that Oberoi Realty continues to operate all its sites in accordance with the advisories issued by the Central, State and local Governments, from time to time; while strictly adhering to all the prescribed safety protocols, and we remain committed to RERA guidelines to deliver results to our stakeholders.

In these testing times, Oberoi Realty continues to perform, progress and prosper across all verticals. This has been made possible by our strong management, our resolve to adapt to change to the evolving customer behaviours.

Our residential projects benefitted from an inclination for home ownership, a preference towards a reputed and financially stable brand, and our customer-centric designs. All our projects have continued to perform exceptionally well and we are focused on execution and delivery of all our commitments to our customers. The demand for our projects has been majorly user-led, and this makes me further bullish about our position in the industry.

Our commercial segment has also benefitted from employees returning to offices and a renewed interest from corporates to expand their existing workspaces. The retail segment has staged a brilliant comeback as we see footfalls gradually reverting to pre-Covid levels and in fact, in some months even exceeding them.

As the cost of commodities and imports increases due to supply chain breakdowns, international conflicts and rising inflation, customers will be faced with escalating prices. However, we are confident that we will not see any resistance from customers due to our assured quality and repute.

Over the last few years, reforms like RERA, GST and also to some extent the pandemic have led to the consolidation of the real estate industry and there is a strong preference and trust for established brands, over brands with weak track record and financial instability.

We are on track to deliver further value to our stakeholders with new launches in Thane, and more phases in Oberoi Garden City (Goregaon) and Sky City (Borivali). As we continue to expand in the retail and commercial verticals, we have also assembled formidable teams to lead these departments with a specialised focus and expertise.

Our company is also cognizant of its commitment towards sustainability. Alongside our business strategies, we give equal importance to ensure safe operations, environmental conservation, and social wellbeing. We are committed to adopt innovative, clean and efficient technologies in order to optimise energy and resource efficiency within our project sites.

I am thankful to you for your support and faith in our brand and its promise. We have successfully adapted to the new normal and are well-equipped to deal with any changes that may come our way.

And finally, I take this opportunity to thank the Board, Independent Directors, Employees, 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.

I wish you all a healthy, happy, and successful year ahead!

Thank You.

Best Regards,

Vikas Oberoi

Chairman & Managing Director

Good Afternoon Ladies & Gentlemen,

Welcome to the 23rd Annual General Meeting of Oberoi Realty Limited. On behalf of the Board of Directors and Oberoi Realty, I would like to thank all of you for being part of this event. We have organised this AGM digitally for the safety and wellbeing of everyone.

The last financial year was challenging in many ways due to the Covid-19 pandemic and the lockdown constraints. However, your company showed great agility, teamwork and resilience during these challenging times and delivered outstanding results. Our employees were provided with all the infrastructure for them to work from anywhere thereby ensuring necessary business continuity. All our construction sites followed the required safety guidelines and to ensure the wellbeing of our employees and their families, the company also organised a vaccination drive.

We also take this opportunity to thank the Central and the State governments, and other regulatory authorities for the strong reform measures taken by them to boost consumer confidence in the real estate sector. The company appreciates the unwavering support and trust of our shareholders on the brand. It is this confidence that motivates us to continue our work with an unending zeal and passion.

Your company’s unique brand positioning, diversified project portfolio and financial prudence has made us one of the most trustworthy brand in the real estate sector. Our ability to adapt to the emerging trends of the market and changing consumer behaviour has resulted in consistent growth over the years. Our sales volumes in the last financial year is a testament to our strong legacy of excellence.

All our projects offer spacious designs, luxurious amenities, serenity and an ecosystem of conveniences, all of which leads to a holistic living experience. These elements have assumed greater significance post the pandemic and the same was also seen in the buying trends during the year. A pre-existing strong demand for our projects was further propelled to new heights due to these unique offerings. Our new residential projects, Elysian at Oberoi Garden City, Goregaon and Sky City at Borivali have been one of the most successful real estate launches of the year due to its thoughtful design which was curated after understanding the emerging trends in consumer preferences.

Our commercial vertical concluded one the largest transaction by leasing 1.1 million sq. ft. in Commerz III, our upcoming commercial building at Goregaon to a leading international financial services company. Our retail business also continued to show resilience and recovery despite the challenging business environment.

We think India is hugely under built and supplied, and we believe there is huge opportunity for us to plug this gap. Our vision is to create holistic developments that takes care of all the needs of our consumer. We are confident that our projects can transform locations into landmark destinations. Our customer centric approach, financial prudence and strong corporate governance gives us a sustainable competitive advantage which will help us increase our market share in the coming years.

On behalf of everyone at Oberoi Realty we thank you all stakeholders who have stood by us and have reposed their trust and confidence in the brand.

Stay Safe, Stay Healthy.

Best Regards,

Vikas Oberoi

Chairman & Managing Director

Good Afternoon Ladies & Gentlemen,

Welcome to the 22nd Annual General Meeting of Oberoi Realty Limited. On behalf of the Board of Directors and Oberoi Realty, I would like to thank you for being a part of this event. Given the COVID-19 situation, we have organised this AGM through a Video Conference for the safety of our shareholders and, I appreciate you all taking the time and being a part of this AGM.

The COVID-19 pandemic has been an extraordinary and unprecedented event in our lives. It has impacted economies across the world and every country is battling this crisis in its best possible way. These are testing times for all corporates and I am sure that organisations that exhibit agility, innovation, and financial stability will persist. Most of us have faced the repercussions of this crisis, in some way or the other but I am confident that this situation will only make us more resilient, self-reliant, and stronger than ever. 

The year saw that the new government continued on its path of taking India to the top of the global economic ladder. Amid the pandemic, the government and the RBI took several measures to provide stimulus to the economy and the real estate sector. These initiatives helped the economy and the sector to stay resilient and we truly appreciate them as it was the need of the hour.

The last financial year was yet another positive one for your company and the company’s performance remained consistent despite a challenging business environment. As we look ahead into the future, we have already adapted ourselves to the new normal. Your company was among the early adopters of digital tools to market its projects and interact with its customers. We also deployed numerous digital interventions to ensure our site operations continued uninterrupted.  Our financial prudence and ability to adapt to newer methods of design & construction and customer experience have given us the advantage to be the thought leaders even in these difficult times. As a brand, we will continue exploring opportunities that align with our vision of creating value to all our stakeholders.

COVID-19 has altered the way we live, work, and play. The importance of a safe, secure, and spacious home that caters to all the needs of a family has gained tremendous importance. Your company has already been a pioneer in designing spaces that are created keeping in mind customers’ needs. Hence, we emerge as the most preferred developer due to our product offerings and construction quality.

We are already seeing an increase in momentum over the last three months and we expect this pick-up to continue. The impact of this pandemic has changed the dynamics of the residential segment along with other businesses - commercial, retail, and hospitality. We are positive that we will prosper despite challenging situations and adapt ourselves effortlessly.

On the supply side, we anticipate major consolidation in the sector because players with weak brand equity, no track record, and financial instability will find it impossible to survive.  We are already seeing customers gravitate and entrust their hard-earned money with developers who can guarantee delivery of their dream home.

I am thankful to you for your support and faith through these turbulent times. Please stay strong and stay safe, this calamity has brought us closer to our loved ones and forced us to test our limits. It is time to regroup and restart as your company is geared up to embrace the new normal.

Wishing you all a healthy, happy, and successful year ahead!

Thank You.

Regards,

Vikas Oberoi

Chairman & Managing Director

Dear Shareholders,

Welcome to the 21st Annual General Meeting of Oberoi Realty Limited. On behalf of the Board of Directors and Oberoi Realty, I would like to thank you for taking out time to attend this meeting.

The year gone by has redefined the contours of the Indian economic environment. Reforms like GST, Insolvency Code, RERA have formalized corporate India and put the country on a high-growth trajectory. For Real Estate, RERA continued to accelerate the consolidation in the sector and the introduction of GST brought in a much-needed efficiency to the entire value chain. The government that brought these reforms is once again back at the helm with an emphatic mandate and I am sure the current dispensation will continue to deliver on its promises.

The Maharashtra government's continued focus on improving infrastructure across the financial capital has been beneficial to the industry in more ways than one. Initiatives such as the Mumbai metro line and coastal road will improve connectivity and aid in the development of new business districts and residential addresses. With a progressive agenda both at the Centre and the State, we believe that with our company’s strong track record, well-designed projects and fiscal discipline, we will continue to deliver value to our stakeholders.

In the last financial year, we offered possession to our customers at Esquire and Prisma our flagship developments in Goregaon and JVLR. I am also delighted to announce that we achieved the highest ever topline in the last financial year and successfully closed a QIP despite subdued sentiments. We received a promising response from our buyers for all our projects and our annuity business continued to perform well. We are proud and humbled for the awards and accolades given to us over the last financial year as they are an affirmation of our effort towards creating spaces that enrich the value of our customers.

The new financial year will be a redefining one for the nation as we enter the year with a new set of regulations governing the corporate environment. We look forward to maintaining the momentum with new project launches and sustaining sales performance in existing projects. In FY 20, we look to launch the third phase of Oberoi Garden City in Goregaon and the mega-development in Thane. We have also commenced construction of our annuity projects in Worli, Goregaon and Borivali. With 27.43 million sq. ft in the making, Oberoi Realty has aggressive plans for expanding its footprint across retail, commercial and residential segments.

I am grateful to you for your support and faith and am confident that you will continue to stand by us as we all move forward.

Wishing you all a successful year ahead!

Thank You.

Regards,

Vikas Oberoi

Chairman & Managing Director

Dear Shareholders,

On behalf of the Board of Directors and the entire team of Oberoi Realty, I extend a warm welcome to you all, to the 20th Annual General Meeting of your company.

Last year we saw the implementation of path breaking initiatives such as GST and RERA which also led to the formalisation of both the economy and the real estate sector. GST revolutionized our tax system by implementing a unified tax structure thereby enabling India to be one of the fastest growing economies. For our sector, RERA which is a balanced regulation for all stakeholders, brought a renewed confidence towards the industry. Together, these two reforms are set to make the operating environment more transparent and benefit developers of repute.

Additionally, the Government of Maharashtra is playing a key role in further strengthening the economy through its continued focus on implementing policies to encourage ease of doing business and executing key infrastructure projects across Mumbai.

Investments into the sector are increasing, credible developers are leading the market and real estate sector is once again regaining consumer trust and confidence. In these changing environments, only organisations, focused on customer centricity will prosper in the long run. We are optimistic about our future as we have always placed our customers needs at the focal point of our organisation. Our emphasis on values, stringent process controls and quality of deliverables have helped us establish as one of the most trusted brands in the sector.

At Oberoi Realty, the year has been exceptional in more ways than one. We are glad to inform you that we have been the recipient of numerous awards and recognitions by multiple industry bodies. The awards we receive continue to be a validation of our work and we are extremely proud of this affirmation conferred upon us by the industry time and again.

With these ground-breaking reforms, it is clear that in times to come, only the agile will thrive. Your Company is a strong believer in adaptability and has already attuned itself to market sentiments. As a Company, our vision is to create spaces that are aspirational and live beyond our lifetime; developments that set benchmarks for the industry and enhance the entire ecosystem that operate in.

I am grateful to you for your support and faith and am confident that you will continue to stand by us as we all move forward.

Wishing you all a successful year ahead!

Thank You.

Regards,

Vikas Oberoi

Chairman & Managing Director

Dear Shareholders,

Welcome to the 19th Annual General Meeting of Oberoi Realty Limited. On behalf of the Board of Directors and Oberoi Realty, I would like to express our heartfelt gratitude for your continued trust and faith in us. It is indeed a pleasure to be here.

The year 2016-17 witnessed some defining moments for India’s economy – with significant reforms across sectors. In its vision to put India on the global financial map, the government has taken some progressive fiscal and political decisions. One such decision was the demonetisation drive that happened in November last year. Though it created some discomfort for the realty sector; for your company, it was business as usual. The end of the fiscal year paved the way for the implementation of the much-awaited GST and RERA, both of which are set to boost investor and consumer confidence. In Maharashtra, the state government’s sustained focus on infrastructure augurs well for its economy and industry. Moreover, with this state Government being the frontrunner in implementing RERA regulations, we believe that the real estate industry in Maharashtra is on its path to achieve much needed levels of transparency and sophistication. With benchmarks redefined and roadmaps in place for fast tracking clearances, infrastructure and economic reforms, our nation is all set to claim its rightful place as the most attractive country to do business in.

At Oberoi Realty, with our emphasis on transparency, corporate governance and meticulous processes, we have welcomed these progressive reforms with open arms. The year gone by has also been rewarding for your company. Over the last year, we have been the recipients of numerous accolades. We have also delivered a strong performance this year and have continued to deliver value to all our stakeholders. Our revenues for FY17 stand at Rs. 1,161.04 crores with an EBIDTA of Rs. 617.36 crores and our gross annual booking value exceeded Rs 1,500 crores.

With the ethos of customer-centricity binding all our projects, I am happy to report that your company continues to remain the preferred choice for real estate buyers across categories and locations. Our retail development, Oberoi Mall, continues to be the leader in the western suburbs of Mumbai. Our commercial developments have performed well and contributed towards the growth of the company. And our residential projects, as always, have garnered an exceptional response from our customers. It gives me great pleasure to inform you that all our ongoing projects have received RERA registrations. With all our ongoing projects on track, we have firmed up plans for our next set of projects. We intend to launch the third phase of Oberoi Garden City in Goregaon and the fifth tower of Sky City at Borivali in the current financial year. The year will also see the launch of Maxima, a single storey residential project at JVLR.

Over the last three decades, ethics and principles have been your company’s backbone and the reasons for our sustained growth. It is our steadfast goal to ensure we stay true to these core values in our transactions with all our stakeholders - customers, partners, employees, associates and the society in general. In our journey towards excellence, our effort is to maximize value for all our stakeholders while ensuring that our bond with our customers is strengthened by delivering world-class projects.

In the coming year, we pledge to maintain the momentum gained over the last few years. I thank each one of you for reposing your faith in me and the Company and for being an integral part of the Oberoi Realty family. Let us all work together to build an India of the future and the Oberoi Realty of our dreams.

Thank You.

Regards,

Vikas Oberoi

Chairman & Managing Director

We welcome you all to the 18th Annual General Meeting of Oberoi Realty Limited. On behalf of the board of directors and Oberoi Realty Limited, I would like to thank each and every one of you for your steadfast faith in us year after year.

The last year has seen some major policy and process changes that promise the beginning of a brighter future. The passing of the Real Estate Regulatory Act (RERA), amendments in the REIT policy, reforms in the FDI policy, the government’s focus on fast-tracking the approval processes and skill development are some of the high-impact efforts that come a step closer in meeting the long pending expectations of the industry and consumers. The governments focus on key infrastructure projects, its ease-of-doing-business initiative and the long pending clearance of GST coupled with an excellent monsoon this year will bring a positive outlook for the entire Indian economy.

The year gone by has also been a year of recognition and excitement for your company. We have always stood true to our philosophy of creating developments that are aspirational and way ahead of its time. I would like to take a moment here to highlight the enriching breadth of work we have undertaken in the last year.

The launch of Sky City in Borivali received an overwhelming response which resulted in 610 bookings in the launch phase itself. This remarkable achievement within three days of the launch was symbolic of the trust we have gained in the market. The total booking value of Sky City till March 31, 2016 was Rs. 1,700 crore. Furthermore, I am happy to announce that work has already commenced at the site in full swing. Also, I am delighted to inform you that in FY16, your company achieved highest ever annual gross bookings in terms of area sold (~13 lakh sq. ft.) and in value (~ Rs.2, 362.85 crores).

Exquisite, one of our most luxurious residential projects within the Company’s flagship development, Oberoi Garden City at Goregaon, received its Occupation Certificate and till date, gave possession to over 670 happy families. The appointment of Bouygues Construction, as the general contractor for Eternia & Enigma at Mulund has been another feather in the cap for us. Bouygues is a global player in engineering and construction services with operations in 80 countries worldwide; this partnership marks its entry into India as construction contractors.

Also the show apartment of our iconic mixed use development Three Sixty West at Worli, received a magnificent response and was immensely appreciated by our customers.

Over the span of the last year, your company has emerged as the most preferred choice for home owners across categories and locations. With a robust pipeline of projects across Mumbai and her suburbs, we hope to continue the same momentum.

A firm believer and proud partner in the "Make in India" campaign, we at Oberoi Realty have ensured that all our projects are executed with a combination of international technology and trends and local workmanship. We are growing in a direction that not only maximizes value for our investors but also strengthens our bond with customers by developing world-class projects at lucrative locations. Let us all work towards maintaining the right balance of international alliances, advanced technology, strong execution and quality that shall help us in attaining the vision of creating spaces that enhance the lives of our customers.

In this quest to deliver architectural marvels, your company will continue to remain focused on our value system while creating landmarks that are symbols of excellence in every possible sense.

I am deeply humbled and would like to thank you all for the faith you have shown in me and the team. Your trust and support shall go a long way in making Oberoi Realty a brand to reckon with.

Thank You.

Regards,

Vikas Oberoi

Chairman & Managing Director

Good Afternoon, Dear Shareholders,

We welcome you all to the 17th Annual General Meeting of Oberoi Realty Limited. I would like to take a moment here and thank you all on behalf of the board of directors and Oberoi Realty Limited, for having faith and trust upon us.

The previous year has been momentous for your company with landmark developments and new land acquisitions which have worked in our favor. Oberoi Realty continues its quest to conquer new milestones rooted in our belief of transparency and the highest standards of corporate governance.

The coming of the new government at the centre is helping the country create a strong foundation which will in turn create a momentum for good governance and growth. Cutting the bureaucratic red tape, bringing in transparency and ushering in key legislative reforms are some initiatives that are going to be keenly watched by the industry and the country alike.

In the first year, the government has successfully been able to create a conducive environment pivoted around aligning national priorities with entrepreneurial interests. The government is creating a level playing field for responsible companies to thrive and succeed. Just like the new government is taking steps to strengthen its foundation, your company is also solidifying its core values led by a team of committed individuals to enforce the brands lineage. We believe we are on our way to create a robust foundation for future sustainable growth for your company.

The year 2014- 15 has indeed been gratifying for us. Registering over 200 bookings on the first day itself for our Mulund project and clearing almost 20% of the total project inventory within the first quarter has been a landmark achievement that the year has bestowed us with. Also, successfully completing the acquisition of the Borivali (East) property, located on the Western Express Highway has added another feather to your company’s success. Our Worli development too has crossed 60 floors in liaison with Ritz-Carlton who are credited for their sophisticated and legendary hospitality services. This achievement is a validation of our time-tested value-creation strategy of developing projects at attractive locations, appealing to various segments.

I am confident that our government’s endeavor to boost India’s ranking in the ease of business index can be the catalyst to unlock the true development potential of the country. For the sector specifically, the government’s focus on infrastructure and initiatives like ‘Housing for all’ by 2022 and the ‘real estate regulator’ are all steps in the right direction to bring transparency and corporatization into the sector.

Looking at the changing dynamics, we will continue to steadfastly grow in a direction that will maximize value for our investors. We will maintain our tempo of sustainable growth and reinforce our execution strategies to scale up our operations. By leveraging international partnerships, cutting-edge technologies and best practices learnt over the years, we will continue to stay focused on creating world class products for your customers.

As always, I am grateful to you all for the faith you have reposed in me to lead the company and thank you for your support and cooperation.

Thank You.

Regards,

Vikas Oberoi

Chairman & Managing Director

Good Afternoon, Dear Shareholders,

It gives us pleasure to welcome you all to the 16th Annual General Meeting of Oberoi Realty Limited. I on behalf of the board of directors, the management and the entire team at Oberoi Realty Limited, would like to take this opportunity to thank you all, for having faith and trust bestowed upon us right from the time we got listed.

The year gone by and especially the last quarter have been very exciting for us = at Oberoi Realty. Today, India stands on the threshold of a new era, a new form of governance and values that inspire a country with a ‘people first’ approach. There is also a deep sense of hope that an understanding of the country’s economic levers will soon restore the economic momentum of our country.

This is also in line with our approach where we truly believe that people are our most important asset and as an organization, we constantly strive to nurture and retain talent so as to create value for you. Your Company is lead by an experienced management team having given the best years of their professional careers to the company and continue to work towards a common goal that helps drive collaborative success for your company.

The rapidly evolving industry coupled with several challenges at micro and macro level that your company has been exposed to, has only reinforced our commitment to achieving our business goals. Oberoi Realty continues in its quest to conquer new milestones rooted in our philosophy of transparency and the highest standards of corporate governance, along with financial prudence and ‘aggression with caution’.

Today, we truly believe that we are prepared for a more engaging tomorrow aided by the tailwinds of a national governance framework resonates with our broader business model and keeps us committed to enhance long-term value for our stakeholders.

As a corporate committed to our philosophies and as a trusted steward of stakeholder capital, we have always sought opportunities that enhance shareholder returns. In line with this thought process, the year 2013-14 was one where we continued to leverage our established way of thinking – that of providing our consumers with a realty ‘surplus’, marked by premium and attractive locations, built through the best of domestic and international collaborations and provided with comforts and conveniences, difficult to replicate.

I am happy to inform you that we have partnered with The Ritz-Carlton who have come on board as our hospitality partner for our iconic mixed-use development project in Worli. This marks the entry of the international hotel chain into the financial capital of India, Mumbai. Renowned for its legendary service globally, I am confident that this partnership will enable us to create an iconic property with unmatched quality and finest service standards, thus creating a luxury benchmark in Mumbai in the years to come.

Your company has always believed in exercising financial prudence and ‘aggression with caution’. It is this financial prudence on our part that helped us to swiftly mobilise capital in the successful bidding of 25 acres of land located strategically on the Western Express Highway in Borivali(East) in the western suburb of Mumbai from Tata Steel Limited, giving us an estimated developmental potential of about 4.5 mn sq. ft on this property. Another positive for your company was when in a landmark judgement, the Supreme Court passed a decree on the vexed forest land issue, freeing hundreds of acres of land for development and also bringing relief to thousands of families whose buildings fall under this zone.

Our 18-acre Mulund project is one of the beneficiaries of this judgement also marking Oberoi Realty’s entry into Mumbai’s central suburbs. Acquired almost a decade ago at a historically low cost, this 18-acre land parcel facilitates an estimated residential development potential of over 3 mn sq.ft In addition to the normal course of business, these developments are expected to unlock value, ride on a new sense of optimism and accelerate our growth potential in the years to come. I am pleased to report that the impetus that enabled us to create this momentum is fostered by two critical success drivers – people and teamwork.

Given all these factors, I think that we are prepared for our second growth wave starting with three standout developments during the year under review. We will continue to evolve as an our organization going forward, embracing futuristic and innovative processes to enhance the speed and quality of construction as well as ensuring that our resources are focused on efforts driving transformational change.

As always, I am grateful that you have entrusted me to lead the company and thank you for your support and cooperation.

Thank You.

Regards,

Vikas Oberoi

Chairman & Managing Director