Oberoi Realty Chairman Speech

Dear Shareholders,

The new year has been momentous for India in more ways than one. The general elections this year construed a big win for growth and stability. The government that had brought in ground-breaking reforms and policy changes, particularly in the real estate industry, is once again back at the helm with an emphatic mandate. Reforms like GST, Insolvency code, RERA, and other similar initiatives have put the country on an accelerated path.

The year FY 2018-19 brought in consolidation to the real estate sector, as the central government''s transformative agenda of the previous few years started to take effect. The long-term impact of these regulatory measures has been largely positive, leading to stronger governance, transparency, and compliance. Moreover, the Maharashtra Government''s sustained emphasis on developing infrastructure and improving connectivity has boosted the market and led to renewed optimism.

At Oberoi Realty, we have always embraced challenges and capitalized on opportunities; this has been made possible thanks to our continued focus on technology, sustainability, quality, and by fostering an inclusive work culture. Our developments are conceptualized based on the needs of our customers and have an element of contemporary design that appeals to the new-age customer. The spaces we create are built using the latest construction methodologies that involve the convergence of global and local practices. Our focus on design and execution coupled with strong corporate governance practices has supported us to meet the expectations despite subdued market sentiments.

With a vision to be a thought leader in transforming the real estate landscape of India, we look forward to the corporatization of the sector by collaborating with global talent to reach global standards and bringing in international best practices to India in design, construction, safety and quality.

As always, I am glad that our commitment to follow our vision has rewarded us amply, with our company bagging multiple recognitions, both at domestic and international platforms. The appreciation is an affirmation of the work we have done; it also puts more positive pressure on us to push the envelope to continue to create value for all our stakeholders.

I would like to thank you for reposing your faith in your organization and standing by us. We have the resources, the determination, and the resilience to live up to the highest standards and we will continue to work together with all our stakeholders to create a better tomorrow for us all.

Wishing you all an exemplary year ahead!

Best Wishes,

Vikas Oberoi

Chairman & Managing Director