Oberoi Realty (NS: OEBO ) saw a nearly 1% increase in its stock value on Thursday, following the announcement of an agreement for the redevelopment of land in Tardeo. The project, which is adjacent to a property currently being jointly redeveloped by Oberoi Realty and tenanted by the Municipal Corporation of Greater Mumbai, is expected to generate 250,000 square feet of free sale components, according to a BSE notification.
Over the past year, Oberoi Realty's stock has yielded a return of 26.19%, and over the last six months, it has given a return of 39.05%, outperforming the Nifty50 index.
Motilal Oswal (NS: MOFS ) has maintained a neutral rating on Oberoi Realty, with a target price set at Rs 1,200 ($1 = Rs 83.16). This comes in light of the company's recent performance and future prospects tied to ongoing and new redevelopment projects.
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