How the Thane Launch Boosted Oberoi Realty's Quarterly Booking Value
Oberoi Realty's second quarter of FY25 will be remembered as the moment its Thane bet paid off in dramatic fashion. The company reported a booking value of ₹1,442.46 crores for Q2 FY25, compared to ₹965.01 crores in Q2 FY24, a jump that market watchers largely credited to the blockbuster debut of Oberoi Garden City in Thane. Business Standard noted that the company reported a bookings value of Rs 1,442.46 crore during the quarter, almost 50 per cent more than the corresponding period of the last financial year.
At the centre of this surge was the October 18, 2024 launch of Oberoi Garden City Thane on Pokhran Road No. 2. Within days of opening bookings, the project became one of the fastest-selling luxury launches in the Mumbai Metropolitan Region. According to the company's own disclosure, Oberoi Realty "recorded gross booking value of around ₹1,348 crore for 5.65 lakh sq ft (carpet area) over the first three days," it said in a regulatory filing. That single launch alone accounted for the overwhelming share of the quarter's total bookings, underlining just how central Thane has become to Oberoi's growth story.
The project itself is an ambitious integrated township. Oberoi Garden City spans 75 acres and features over 30 world-class amenities, including a 5-star JW Marriott Hotel Thane Garden City, a private membership club, and the Oberoi International School. The first phase focuses on residential towers named Jardin — French for Garden, the homes welcome residents to a Garden of Life, and human centricity is at the heart of the design philosophy. The first phase of the development will consist of 5 residential towers with expansive gardens and bookings for 2 towers has commenced. The homes at Oberoi Garden City Thane will comprise of spacious 3-bedroom and 3-bedroom + studio apartments starting from 1475 sq ft and will rise over 65 storeys.
Commenting on the response, the company's leadership struck an upbeat tone. Vikas Oberoi, Chairman and Managing Director of Oberoi Realty, said the company was thrilled by the tremendous response to the launch, noting that the trust and confidence customers have shown in the brand deeply humbles and encourages the team, and that the project epitomizes the company's vision of delivering a holistic, luxurious living experience that will set a new benchmark for luxury in Thane. On the broader quarterly performance, he added that the company's commitment to delivering exceptional living experiences has solidified its position as a leading player in the market, and that with a robust launch pipeline, it is well-positioned to capitalise on growing demand for premium residential properties.
The financial numbers for the quarter back up the optimism. Oberoi Realty posted a net profit of Rs 589 crore for Q2 FY25, up 29 per cent year-on-year, while total revenue for the quarter stood at Rs 1,358.62 crore, up 9.23 per cent on an annual basis. For the half-year, Oberoi Realty Limited recorded a booking value of ₹2,509.45 crores for H1 FY25, up from ₹1,441.26 crores in H1 FY24.
The Thane momentum did not stop there. Looking back at the full fiscal year, Oberoi Realty reported a 31% year-on-year increase in booking value for FY25, reaching Rs 5,266 crore, compared to Rs 4,007 crore in FY24. The company has continued to lean into Thane and other growth markets since — its FY26 pipeline includes a comprehensive pipeline of upcoming real estate projects across Mumbai, Thane, and NCR markets, with new residential towers planned in Goregaon and Borivali, along with developments in Thane, Pedder Road, and NCR/Gurugram.
For homebuyers, the Q2 FY25 numbers offer a useful signal: Oberoi Garden City Thane is not a niche launch but a flagship project central to the developer's growth strategy, backed by strong balance-sheet momentum and an aggressive amenity-led positioning (school, five-star hotel, and private club) that is likely to influence pricing and resale value in the Thane micro-market for years to come. Buyers evaluating units in the project, or in Thane more broadly, should watch how subsequent towers are priced and phased, since early towers have already commanded premium ticket sizes reportedly running into several crores per unit.
