Omaxe incorporates subsidiary for real estate development

The real estate developer said it has incorporated a wholly-owned subsidiary in the name of Blackbull Retails on 16 June 2022.

The subsidiary will carry on the business of construction and real-estate development.

Omaxe is engaged in real estate development. On consolidated basis, the company reported a net loss of Rs 39.28 crore as against a net profit of Rs 23 lakh in Q4 FY22 over Q4 FY21. Net sales were up 0.4% year on year to Rs 168.10 crore during the quarter.

Shares of Omaxe fell 2.10% to end at Rs 83.75 on Friday.

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