After Gurugram's Blockbuster Launch, Oberoi Realty Sets Its Sights on Worli
There is a particular kind of confidence that comes only after a market has spoken decisively, and Oberoi Realty has just heard that verdict loud and clear from Gurugram. The developer's maiden National Capital Region project, Three Sixty North on Golf Course Extension Road, has launched the first phase of its housing project, located at Golf Course Extension Road in Gurugram, comprising 832 units across six towers, and the response has been nothing short of historic. Within days of opening bookings, the company recorded gross bookings of approximately ₹8,109 crore at 'Three Sixty North', its first luxury residential development in the NCR, having sold 13.52 lakh sq ft of RERA carpet area. Apartments here were launched at a basic selling price of ₹35,000 per sq ft, with the cost per apartment starting from ₹18 crore, and the project's total investment of ₹6,000 crore carries a revenue potential of ₹16,000 crore across both phases.
Speaking at the launch, Chairman and Managing Director Vikas Oberoi captured the moment with characteristic understatement, noting, "We are launching our first project in Delhi-NCR. We feel confident now that our brand is transportable to the NCR market." Yet true to the developer's Mumbai roots, the strategy was never about a quick sell-out. As Oberoi himself explained, "The strategy is not to sell out but to slip into the market. We took four decades to get out of the Mumbai Metropolitan Region."
With Gurugram now validated, attention swings home to where the Oberoi story truly began: Worli. According to brokerage pipeline reports for the year ahead, a major new project in Worli is scheduled for launch in Q1 FY27, reflecting the company's strategic expansion across premium residential segments. The project in question is widely understood to be the long-anticipated redevelopment at Adarsh Nagar, for which Oberoi Realty had earlier informed the stock exchanges that the company had entered into a Development Agreement to develop land and redevelop a large housing society spread over approximately 12,790 square meters in the Adarsh Nagar area of Worli, Mumbai, land parcel leased to the Maharashtra Housing and Area Development Authority, currently housing seven residential buildings with a total of 504 flats. Under prevailing development norms, the company anticipates generating approximately 6.24 lakh sq ft RERA carpet area through the development and redevelopment of the mentioned land.
What makes this site especially compelling for prospective buyers is its neighbourhood. Industry observers tracking the redevelopment wave along the seafront have noted that this is a 3-acre plot on MHADA land, in a good location close to Oberoi's own Three Sixty West project, and given the layout should be primarily a sea-view project with limited sea-facing units. That proximity matters because Three Sixty West has become something of a benchmark for what an Oberoi Worli address commands in the market: current listings show 4 BHK apartments of 5,235 sq ft priced at ₹45.00 crore and 5 BHK apartments of 6,651 sq ft priced at ₹57.17 crore, with the project having demonstrated strong buyer activity, with 15 residential transactions registered as of February 2026 amounting to approximately ₹1,702 crore, and 71 out of 284 launched units already booked by November 2025. Rates in the project have moved firmly upward too, with average rates increasing from ₹85,950/sq.ft. as demand for the Ritz-Carlton managed tower has held firm.
Analysts covering the stock see this Worli launch as part of a much larger canvas. A recent brokerage note observed that the company has built a strong launch pipeline for FY27 which includes 360 North, Gurugram (maiden project), Oceanic, Carter road, Fairview, Malabar Hill, Tower D, Forrestville, Tower A, Jardine, Ralliwolf Mulund, Enigma commercial strata sale, Pedder road, Adarsh Nagar, Worli, Alibaug, Bandra, RLDA and Borivali SRA project. Ratings agencies have responded with cautious optimism: CLSA has upgraded Oberoi Realty to Hold with a target price of ₹1500, revising FY27–28 presales estimates upward by 8%/7% and projecting 28% FY27 presales growth, while cautioning on execution risk from 9–10 greenfield projects plus 3 phases, while Nomura maintains a Buy with a raised target price of ₹1850, citing a ~30% FY26–28F presales CAGR and 20% CAGR in annuity and hotel income.
For homebuyers, the significance of this Worli launch goes beyond a single address. It signals that Oberoi Realty, having proven its brand can travel to Gurugram, is doubling down on the market that built its reputation over four decades. As one analysis of the Gurugram launch pattern put it, unlike many developers that release their entire inventory during launch, Oberoi Realty follows a much more measured strategy, intentionally opening only part of the available inventory while gradually introducing additional units during different stages of construction, allowing it to maintain healthy market demand while ensuring sustainable price appreciation. Buyers eyeing the Adarsh Nagar development in FY27 can likely expect a similarly disciplined, phase-wise release rather than a single mega-launch event.
While official pricing and MahaRERA registration for the new Worli project are yet to be announced, the broader signal from the company is unmistakable. Oberoi Realty appears to be entering a fresh expansion cycle supported by premium launches, redevelopment opportunities, stronger annuity income, and hospitality diversification, with a substantial project pipeline across Mumbai and Gurugram and improving occupancy trends. For anyone tracking Worli's luxury corridor, the coming months of FY27 are shaping up to be worth watching closely.
