Oberoi Realty acquires 6.4 acres in Thane near Mumbai

Mumbai-based Oberoi Realty has acquired 6.4 acres of land in Thane near Mumbai from NRB Bearings Limited (NRB), according to a regulatory filing at the BSE.

The land is located at Pokhran Road in Thane; the acquisition includes structures on the site, the filing said.

"The above acquisition shall be completed upon fulfilment of certain terms and conditions of the MOU (memorandum of understanding),” the filing said in a reference to an agreement signed on May 23, 2023.

“The company has also made payment of part consideration amount to NRB, and the balance consideration shall be paid on and/or before the closing of the transaction,” it said without disclosing the cost of the purchase.