Oberoi expand into branded residences
In an exclusive interview to the Economic Times, PRS Oberoi, the Chairman of the Oberoi Group announced the expansion into branded residentials and premium foods. This will be the first instance of an Indian private group diversifying into other luxury sectors, beyond its core business. The first Oberoi-branded residences will be developed in Hebbal, Bangalore, on a lake side land owned by the group.
Oberoi also said he was exploring expanding into the food segment, but hasn’t “anything planned yet.” Launching branded chocolates is an option, but it is not a big market, he added. “We have to find something that has a bigger market. Food has been on my mind for some time, though distribution is a problem,” he said.
Oberoi also confirmed he would lead the race for the lease for the New Delhi property that currently houses the Taj Mahal hotel operated by Tata Group.