Mumbai real estate update: Oberoi Realty has emerged as the highest bidder for an 11-acre railway land parcel in Bandra East, quoting ₹5,400 crore for a 99-year lease.

Mumbai-based real estate developer Oberoi Realty has secured pole position in one of the largest land bidding processes in the city by quoting ₹5,400 crore for the long-term lease of a prime 11-acre plot in Bandra East. The bidding process was conducted by the Rail Land Development Authority (RLDA), the real estate arm of Indian Railways.

The land parcel, strategically located adjoining the Western Express Highway, carries significant development potential. According to details shared by the company, the plot offers an estimated floor space index (FSI) potential of around 19.50 lakh square feet and is being offered on a 99-year lease basis.

In a regulatory filing dated February 4, 2026, Oberoi Realty confirmed its status as the top bidder. The company stated that financial bids were opened by RLDA on the same day, and its quote of ₹5,400 crore emerged as the highest. The firm is now awaiting formal communication from RLDA regarding the next steps in the approval and allotment process.

The Bandra East land parcel forms part of a larger monetisation initiative undertaken by Indian Railways through RLDA. The authority aims to generate substantial revenue by leasing out high-value railway land across Mumbai.

As part of this plan, RLDA intends to monetise nearly 25 acres of land spread across four key locations in Mumbai. The initiative is expected to raise at least ₹8,000 crore. Given its prime location and scale, the Bandra plot is among the most sought-after assets in this portfolio.

In its recent quarterly update, Oberoi Realty reported a moderation in pre-sales during the third quarter of FY26. The company attributed this to the absence of new project launches and relatively slower traction in existing developments, including projects such as Three Sixty West, Elysian, Enigma, and Sky City.

Despite broader discussions around a slowdown in residential demand, the company management has maintained a confident outlook. During the Q3FY26 earnings call, Chairman and Managing Director Vikas Oberoi stated that the company is not witnessing any significant demand weakness. He added that current softness in the market is more specific to individual projects, locations, and product types rather than being an industry-wide trend.

The company also indicated that it expects to receive necessary approvals for its Gurugram project within the next 30 to 40 days, which could provide further momentum to its growth pipeline.

Oberoi Realty's ₹5,400 crore bid for the Bandra railway land marks one of the most significant real estate developments in Mumbai in recent years. The project underscores the strong demand for large, well-located land parcels despite broader market fluctuations. With the formal allotment process still underway, the deal has the potential to reshape the Bandra East skyline and reinforce Mumbai's position as a hub for marquee real estate investments.