Key takeaways of the conference call

CY2017 was the year of formalization of the Indian economy with key reforms such as demonetization, GST and RERA being implemented. The company is optimistic that these initiatives and the upcoming budget will boost the economy and further improve customer confidence and market sentiment.

Borivali project revenue recognition will be in Q1FY19. Borivali project – Construction started for 5 towers. But only 4 towers are launched and sales commenced.

In case of Mulund the revenue recognition of Eternina will be by H1FY19 and Enigma by Q3FYU19. The Worli project revenue recognition will all likely by Q2FY19 Even though construction threshold is already crossed for Worli project but it has to cross volume milestone.

Worli project –physical status bldg tower a 3 hotel and residential tower b is fully residential. Tower a hotel floor portion is completed and interior work only has to be completed.

Received part occupation certificate for Esquire project on Jan 29, 2018.

Esquire – believed there is enough demand in the pipeline for this project. However for Mulund project there is little bit slowness so the company is more focused on this project marketing.

Goregaon five more residential towers to go so not start booking so as the current supply is not cannibalizing. Goregaon next phase launch will happen in Fy19.

Borivali and Worli Mall work is going on but the opening will be in sync with metro line operation commencement.

Commerze leasing front deal for one more floor got concluded during the quarter. The company expects an occupancy of about 65-70% by end of March 2018 end.

360 west – on collection customer prefer to do more diligence in this magnitude of project. By March 2018 quarter collection will be completed.

With the state of Maharashtra being at the forefront of implementation of RERA coupled with a strong focus on Mumbai's infrastructure to improve quality of life for Mumbaikars, the company is confident that the city will witness an increase in demand. With this stimulus to growth and our continued focus on delivering quality products in Mumbai, it believes that Oberoi Realty is well-placed to capitalize on these opportunities.