Oberoi in talks with Puravankara for south project

BANGALORE: The Oberoi Group is in negotiations with realty company Puravankara Projects to develop four hotel properties in the south. Construction of the first project, located in Hebbal in north Bangalore, is expected to begin by the end of the fiscal. group joint managing director Vikram Oberoi told ET that his company had initiated talks with PPL.

As part of the growth strategy, the company is keen on taking the management-contract route. The group holds significant equity in each of its properties. “We are quality driven and unlike our competitors, are not chasing numbers. But given the escalating price of prime real estate, it makes good business sense to partner with property owners and develop hotels,” Mr Oberoi added.