Oberoi Realty has purchased around 60 acres of land in Thane, Maharashtra from GlaxoSmithKline Pharmaceuticals (GSK) for nearly Rs 890 crore. The company has paid the entire consideration of Rs 889.50 crore to GSK and has registered the property, and taken possession on August 30. A small piece of land measuring about 1,410 square meters is still to be transferred in favour of the company owing to a stay order passed by the Bombay High Court.
Oberoi Realty is engaged in construction and real estate development, and hospitality. The company’s segments include Real estate and Hospitality.