OBEROI REALTY LTD. - Updates

GlaxoSmithKline Pharmaceuticals Limited ('GSK') has selected Oberoi Realty Limited as the successful bidder for the land admeasuring approximately 60 acres located at Thane, Maharashtra. The Company's bid for purchase of the said land was for a consideration of Rs. 555 Crore (Rupees Five Hundred and Fifty Five Crore only).<BR> <BR> The proposed purchase of land is subject to compliance and adherence with the terms and conditions of the bid, including receipt of all statutory and regulatory approvals from the concerned authorities and signing of definitive documents between the Company and GSK in this regard.