Equity Snap: Oberoi Realty Ltd (OBER IN) Fresh trouble for Oberoi 360 North

Research evidence excerpt

Equity Snap: Oberoi Realty Ltd (OBER IN) Fresh trouble for Oberoi 360 North

10 July 2026

Equity Snap: Oberoi Realty Ltd Equities REMD

(OBER IN)

Fresh trouble for Oberoi 360 North India

◆ Oberoi told to halt fresh allotment of apartment for its 360 Puneet Gulati*, CFA

North project in Gurugram but no impact on existing sales SeniorHSBC SecuritiesAnalyst, Indiaand CapitalEnergy,MarketsProperty(India)& InfraPrivate

and construction so far Limited puneetgulati@hsbc.co.in

+91 82 9189 7591

Oberoi Realty Ltd (OBER IN, INR1873.20, Buy, TP INR2100.00) Sambhav Kela*

Analyst, India Real Estate & Power

(Priced as of 09 Jul 2026) HSBC Securities and Capital Markets (India) Private

Limited

Punjab and Haryana High Court restrains new allotments of apartments for sambhav.kela@hsbc.co.in

Oberoi’s 360 North project. This follows a writ petition by Advance India Projects +91 22 40891464

Ltd against the Director, Department of Town and Country Planning (DTCP),

* Employed by a non-US affiliate of HSBC Securities (USA) Inc, and is

Haryana. The court has ordered DTCP to decide on the complaint on 20 July 2026. not registered/ qualified pursuant to FINRA regulations

Why this is important. Oberoi 360 North is Oberoi’s first entry into Gurugram. It

registered a record booking value of INR81bn, exceeding the company’s total

bookings in any single previous year.

What now. The company has indicated that the order doesn’t affect any existing

sales and does not halt construction of the project. The company has not yet

announced a plan to launch the second phase, so the order does not immediately

affect potential new bookings.

A bit of history. Oberoi purchased the 14.8-acre land parcel in 2023 for INR6bn

from the Ireo Group. Previously, AIPL and the Ireo Group had entered into an