Omaxe

Come September, modern retail will meet traditional shops and eateries in this market of tangible and intangible heritage

Realty firm Omaxe has bagged a project from DDA to develop a sports complex and retail project at Dwarka in the national capital at a cost of Rs 2,100 crore. The company has secured this 50-acre project from the Delhi Development Authority (DDA) under the "Design Build Finance and Operate" model. It will build both outdoor and indoor sports facilities. A large cricket-cum-football stadium is also being planned, besides a retail area. The total investment is estimated at about Rs 2,100 crore, of which Rs 1,300 -1,400 crore will be on sports complex and the rest on retail area. Omaxe Ltd Chairman Rohtas Goel said: "We have bagged a project from DDA, located in Dwarka, New Delhi." It will be the first sports facility to be developed by the DDA in PPP (Public Private Partnership) model. "We will develop a world-class cricket stadium and sports complex in this project. It will be a marquee project facilitating the sports infrastructure at par with global standards," Goel said. The ret

Jio-bp will set up EV charging and swapping stations at various Omaxe properties across 12 cities under the agreement

The Income Tax department conducted searches at multiple premises linked to real estate group Omaxe in the national capital region and few other cities on charges of tax evasion

Realty firm Omaxe on Friday reported a consolidated net loss of Rs 39.05 crore for the second quarter ended September 30. The company had reported a net loss of Rs 76.13 crore in the year-ago period. The total income, however, rose to Rs 191.34 crore in the second quarter of this fiscal from Rs 163.47 crore a year ago, according to a regulatory filing. Delhi-based Omaxe had posted a net loss of Rs 235.18 crore over a turnover of Rs 514.59 crore for the entire 2020-21 financial year.

Realty firm Omaxe has sold properties worth Rs 2,051 crore in 2020-21, up 18 per cent from the previous fiscal, mainly on the back of better demand for its commercial projects in the national capital and Chandigarh. Omaxe is developing a multi-level parking cum commercial project Omaxe Chowk at Chandni Chowk in the national capital. "Our sales bookings in value terms increased to Rs 2,051 crore during the last fiscal from Rs 1,738.75 core in 2019-20 financial year," Omaxe Ltd Vice President (Business Development & Corporate Strategy) Rajan Gupta told PTI. Out of the total sales bookings, about 70 per cent contribution came from commercial projects in Delhi and new Chandigarh. The remaining sales came from housing projects at Ludhiana, Lucknow and New Chandigarh, he said. In volume terms, however, sales fell to 2.73 million sq ft from 4.99 million sq ft. Omaxe delivered only 2.71 million sq ft across various projects in FY21 as against 6.51 million sq ft in the previous fiscal ...

The National Company Law Tribunal (NCLT) has agreed to hear a petition filed against Omaxe Ltd alleging oppression and mismanagement in the affairs of the Delhi-based real estate firm. Terming the matter as "exceptional" and having "compelling circumstances" against the realty firm, a two-member Chandigarh-based NCLT bench has granted the waiver in the filing criteria under Section 244 of the Companies Act, over the plea filed by the Omaxe former joint managing director Sunil Goel and his wife. The tribunal observed that the applicants including Sunil Goel are the shareholders, promoters and were directors of Omaxe Ltd and also have considerable shareholding and interest in its holding company Guild Builders. Moreover, none of the members of Omaxe is eligible to file an application under Section 241 of the Companies Act, 2013 against the company over the allegations of oppression against minority shareholders. While granting the waiver, NCLT observed that individually, the petition

The stock was locked in lower circuit for 12th straight trading day

The company has deferred its Q4 results by one month to July 29, 2020.

Besides, the company sanctioned Rs 200 crore for Project Grand Omaxe Lucknow in January 2018.

The company said the real estate sector is passing through challenging times

Total income also fell to Rs 307.59 crore during January-March period of 2018-19 financial year

Guild Builders, which held 62.57 per cent stake in Omaxe as on September 30, 2018, also requested the tribunal to dismiss the petition

The company is developing 39 real estate projects - 13 group housing, 16 townships and 10 commercial