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Chairman’s Speech

Chairman's Speech at the 24th Annual General Meeting of Oberoi Realty Ltd.

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


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