Oberoi Realty Gurugram launch: ₹8,109 cr bookings

A landmark North India entry for Oberoi Realty

Mumbai-based listed developer Oberoi Realty has marked its entry into Delhi-NCR with the launch of an ultra-luxury residential project in Gurugram called Three Sixty North. In a company statement, Oberoi Realty reported gross bookings of about ₹8,109 crore for this first project in the region. The scale of the initial demand matters because it signals how quickly a Mumbai-focused premium brand can translate in North India’s luxury market.

The company has framed the launch as a milestone after decades of operating largely within the Mumbai Metropolitan Region (MMR). Chairman and Managing Director Vikas Oberoi said the response reflects both the strength of the development and the trust the brand has built over four decades. He also described the NCR entry as a step driven by the company’s philosophy rather than geography.

What the company disclosed about Three Sixty North

According to the company, Three Sixty North has recorded bookings for about 13.52 lakh sq. ft. of RERA carpet area, equivalent to 23.10 lakh sq. ft. of saleable area. The project is located in Sector 58, Gurugram, and has been described as an ultra-luxury development.

Oberoi Realty has also stated that it is committing an investment of around ₹6,000 crore to the Gurugram development, with an estimated revenue potential of ₹16,000 crore. Separately, the project has been described with a gross development value (GDV) of ₹10,000 crore, and also as targeting ₹10,000 crore in sales.

Launch timing and positioning

The company launched Three Sixty North in Gurugram on June 29. In its exchange filing, Oberoi Realty disclosed a starting price of ₹18 crore (plus taxes). The company’s messaging has positioned Gurugram as a market that appreciates quality, with price points that fit its premium positioning.

At a press conference, Vikas Oberoi said the company felt confident that its brand is “transportable” to the NCR market. He also stated that the company is in NCR to build the best product and does not fear competition, while expressing an ambition to build a Gurugram business on a scale comparable to its Mumbai operations.

Calibrated sales strategy: phased inventory release

A key operational detail from the launch is Oberoi Realty’s approach to selling inventory. Vikas Oberoi told Hindustan Times Real Estate on June 29 that the company plans to adopt a calibrated sales strategy rather than selling the entire inventory at launch. He described the approach as “sustenance” and said the company plans to “slowly slip into the market.”

He said inventory across the six towers will be sold in phases throughout the construction period, rather than through an immediate sell-out. He also stated that not all units across the six towers have been opened in phase one, with the company accumulating interest before opening more inventory. Oberoi said this approach mirrors how the company sells projects in Mumbai and added that it wants to wait and watch because launches tend to be a big event in NCR.

Why Gurugram is central to the NCR plan

Oberoi Realty’s entry comes at a time when Gurugram has been described as one of India’s strongest luxury residential markets, supported by demand from high-net-worth individuals, entrepreneurs, and senior corporate executives. In the company’s view, the market has both width and depth.

Vikas Oberoi also spoke about similarities and differences between Mumbai and Gurugram. He said Mumbai buyers tend to be practical and want to use every inch, and that earlier NCR pricing was softer. But he added that pricing has gone up and the customer profile in Gurugram is now almost the same as Mumbai.

Expansion roadmap: more NCR opportunities, and beyond

Beyond the first project, Oberoi said the company is looking for additional properties through joint ventures and outright purchases. He also indicated the company is open to opportunities across the region, including Noida. While the immediate focus is on establishing and expanding in Gurugram after MMR, he said there is no thought beyond Delhi-NCR at this stage.

In another comment, Oberoi said the company is also evaluating opportunities in southern India. He added that the longer-term goal is to eventually become a pan-India player, with expansion driven by opportunities.

Key figures at a glance

Market impact and what investors may track

The reported ₹8,109 crore in gross bookings provides an early indicator of acceptance for Oberoi Realty’s first NCR project, particularly at a ₹18 crore-plus starting price point. The choice to sell inventory in phases means near-term booking velocity may be shaped as much by release strategy as by underlying demand.

For investors tracking the company’s transition from a predominantly Mumbai-focused portfolio, the Gurugram launch adds a new geography with a clearly stated ambition to scale. The company’s stated openness to joint ventures and outright purchases in NCR, including Noida, also signals that this may not remain a single-project presence.

Conclusion

Oberoi Realty’s Three Sixty North launch in Gurugram has delivered ₹8,109 crore in reported gross bookings, alongside disclosed booked area of 13.52 lakh sq. ft. of RERA carpet area. The company plans to use a phased, calibrated sales approach across the project’s six towers, consistent with its Mumbai playbook. Next, markets will watch how quickly additional inventory is opened over the construction period, and whether Oberoi Realty proceeds with further acquisitions or joint ventures across Delhi-NCR, as outlined by management.