The company informed the exchanges on Monday that the director of Haryana’s Department of Town and Country Planning (DTCP) has rejected Advance India Projects Ltd’s (AIPL) petition seeking license cancellations of Oberoi Realty’s license and change of developer approval citing it was “”filed being without any merit”.
Oberoi Realty’s License No. 69 of 2025 and change of developer approval are legally intact, the DTCP director said.
Thus, the Punjab and Haryana High Court’s temporary restriction on fresh allotment and third-party rights for the project is no longer operative.
The Three Sixty North project in Gurugram is the Mumbai-based real estate developer’s maiden project in the National Capital Region (NCR).
Last month, the company said it had already achieved gross bookings of approximately ₹8,109 crore for the project against a total project value of around ₹16,000 crore.
Oberoi Realty has positioned Gurugram as its next major growth market and said the city has the correct demographics to support expansion beyond Mumbai.
Following the strong response to its debut project, the developer said it is serious about building a long-term presence in NCR and is prepared to make large investments using the same strategy that worked in Mumbai.Oberoi Realty’s chairman and managing director Vikas Oberoi told CNBC-TV18 last month that Gurugram would not be treated as a secondary market and would receive the same attention as Mumbai.
The company reported its first quarter earnings last month. Its consolidated net profit increased by 29% to ₹544 crore from ₹421 crore last year, while its revenue from operations was up 31.7% at ₹1,301 crore. Its EBITDA increased 41.1% to ₹734.1 crore and EBITDA margin expanded to 56.4% from 52.7% in the year-ago period.
Shares of Oberoi Realty were trading 2.3% lower at ₹1,886.5 apiece at 9.50 am on Tuesday. The stock has increased 11.2% this year, so far.
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First Published: Aug 18, 2026 7:47 AM IST
