Oberoi Realty Limited's subsidiary acquires hotel property for Rs. 1040 crore

Evenstar Hotels Private Limited ("Evenstar"), a wholly owned subsidiary of Oberoi Realty Limited, has purchased and taken possession of a hotel property (together with appurtenant rights, proportionate interest in common areas, and conveniences) situate at Dr. Annie Besant Road, Worli, Mumbai, for a consideration of Rs. 1040,00,00,000 (Rupees One Thousand and Forty Crore only).

The hotel property is a 221 key '5 Star' hotel and will be operated and managed under the Ritz-Carlton brand. Prior to the acquisition by Evenstar, the hotel property was owned by Oasis Realty (an association of persons), and is part of the project 'Three Sixty West' developed by Oasis Realty.

Shares of OBEROI REALTY LTD. was last trading in BSE at Rs.536.65 as compared to the previous close of Rs. 559.3. The total number of shares traded during the day was 24041 in over 1266 trades.

The stock hit an intraday high of Rs. 557.05 and intraday low of 533. The net turnover during the day was Rs. 13096951.

Source : Equity Bulls

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