&w=3840&q=100)
Omaxe to invest ₹1,000 crore in integrated township near Golden Temple
Real estate firm Omaxe Ltd announced that it will invest over ₹1,000 crore in developing a new integrated township in Amritsar, Punjab. The project, dubbed New Amritsar Township, will be developed through the company's subsidiaries, Omaxe said in an exchange filing on Monday.
The realty firm has acquired 260 acres of land on the GT Road, around 12 minutes from the Golden Temple. In the first phase, 127 acres will be developed with a focus on creating a modern, self-sufficient urban ecosystem.
Omaxe said the project has already secured Rera registration and necessary approvals. The first phase will offer residential plots of 300, 500, and 1000 sq. yards. The broader master plan includes commercial spaces, a school, a clubhouse, and supporting infrastructure such as wide internal roads, landscaped greens, cycling and walking tracks, 24x7 security, and uninterrupted utility services.
The township is expected to benefit from multiple infrastructure projects in the region. These include the 99 km Nakodar-Amritsar branch of the Delhi-Amritsar-Katra Expressway, the 98 km Amritsar Ring Road, a 4.5 km elevated corridor connecting central Amritsar, and an ongoing ₹300-crore expansion of the Sri Guru Ram Das Ji International Airport.
'The project is designed to support a balanced and scalable lifestyle while serving both current needs and future growth,' the company said in its release. Development will be phased, with the first phase targeted for completion in about four years. Omaxe said the initial funding is being met through internal accruals, and the project has already achieved financial closure.
With this launch, Omaxe aims to replicate its success from the Tricity region, where it previously developed an over 1,000 acre township. The company currently operates in 31 cities across eight states, with a portfolio spanning luxury and affordable segments.
Following the announcement, Omaxe shares soared on the BSE, where the stock jumped as much as 14.26 per cent to an intraday high of ₹107.98. Around 2:30 pm, the shares were still trading 9.05 per cent higher at ₹103.05.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
8 hours ago
- Time of India
Strict action will be taken against projects lacking proper permissions, says HYDRAA chief
Hyderabad: At the Times Home Hunt Property Expo held recently, Hyderabad Disaster Management and Asset Protection Agency (HYDRAA) commissioner A V Ranganath cautioned that any new projects lacking proper permissions or built on encroached land will face strict action. 'Only layouts approved before HYDRAA's formation on July 19 last year will be exempt. All others must comply with current regulations,' said Ranganath, noting that unchecked construction contributed significantly to urban issues like flooding and traffic congestion. HYDRAA was set up not just as a watchdog, he said, but also as a proactive body aimed at promoting sustainable and responsible urban development. 'HYDRAA is not just about demolitions. We are focused on creating a healthier, more environmentally conscious real estate ecosystem,' Ranganath added. The authority is working closely with other agencies to rejuvenate lakes, address urban flooding, and improve drainage infrastructure. He also pointed out that traffic congestion alone costs the state nearly Rs 300 crore in infrastructure loss, underscoring the need for better planning. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch vàng CFDs với mức chênh lệch giá thấp nhất IC Markets Đăng ký Undo 'We received criticism that HYDRAA slowed real estate activity, but there were geopolitical concerns, delays in RERA clearances, and approval bottlenecks at GHMC and HMDA—also played a role. If a project is legally approved, we won't interfere. Our aim is to ensure compliance and environmental responsibility,' he said.
Time of India
8 hours ago
- Time of India
Realty market rebounding after a two-year slump, says Telangana minister at Times Home Hunt Property Expo
Hyderabad: After two years of sluggish growth, Hyderabad's real estate sector is experiencing a strong resurgence, said IT and Industries minister D Sridhar Babu at the Times Home Hunt Property Expo on Saturday. He stated that the market had recorded consistent 13% month-on-month growth in property registrations since February 2025. 'The real estate sector registered a 15.4% growth in 2024–25, while the construction sector alone contributed 11.97%, adding nearly 80,000 crore to the state's economy,' he said. He also noted that in February 2025, 5,900 property registrations were recorded, with 18% of the registered properties priced above Rs 1 crore. Year-on-year transactional growth stood at 6%. The Times Home Hunt Property Expo featured residential and commercial projects from 35 developers across Hyderabad, showcasing around 100 real estate projects focused on smart homes, gated communities, and wellness-oriented townships. 3,000 visitors on opening day The two-day expo, which concludes on Sunday, recorded around 3,000 visitors on its opening day. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Dermatologist: Just Add 1 Drop Of This Household Item To Any Dark Spot And Wait 3 Minutes Undo Overall, the event is expected to attract nearly 5,000 footfalls across both days. Entry is free for all homebuyers at the Hitex Exhibition Center. The event is presented by Aparna Constructions, with powered sponsorship from Ramky Estates, My Home Group, and Candeur Constructions. It is held in association with Auro, SRIAS, R-One, and ASBL, while Union Bank of India serves as the official banking partner. Sridhar Babu cautioned homebuyers to remain vigilant due to a rise in property scams. He urged them to verify RERA, HMDA and other approvals, and to carry out background checks on developers before making investments. He strongly recommended that buyers register properties only through the Build Now portal, an initiative by the state govt to streamline approvals, increase transparency, and ensure accountability in the real estate process. The minister also spoke about the Indiramma Housing Scheme, which aims to construct 4.16 lakh houses in its first phase within a year. 'This scheme ensures that people from all economic backgrounds, poor, middle-class and upper-class, have access to safe and environmentally conscious housing,' he said. The housing units will incorporate green building practices such as rainwater harvesting systems, solar panels, and low-carbon materials. 'Builders should also work towards obtaining green building certifications for these homes, promoting sustainable urban living,' he added.
Business Standard
12 hours ago
- Business Standard
Sampre Nutritions Ltd Plans Strategic Fundraising Initiative to Drive Growth and Expansion
PNN New Delhi [India], June 21: Sampre Nutritions Ltd (BSE: 530617), a leading confectionery manufacturer, has proposed fund raising initiative through various modes such as preferential issue. Communicated earlier this year to BSE, the company is likely to hold Board of Directors meeting in near future, for the shareholders to consider and approve plans for raising funds via issuance of eligible securities. The proposed capital raise may involve issuance of eligible securities of the company, in one or more ways, through public and/or private offerings, including by way of preferential issue, qualified institutions placement and / or further public offering, subject to such approvals as may be required, including approval of the shareholders of the Company. The aim is to strengthen the company's financial structure and support its ongoing expansion and diversification efforts. The management of the company commented "This is an important step in our journey as we explore ways to expand operations, extend market penetration, and invest in long-term growth. The fundraising initiative highlights our commitment towards building a stronger, more resilient future at Sampre Nutritions Limited" As part of the process, the Board will also consider convening an Extraordinary General Meeting (EGM) or initiating a postal ballot to seek shareholder approval. Earlier in April 2024, the company successfully allotted 17 lakh equity shares at Rs 36 each following the conversion of warrants issued on a preferential basis. On October 14, 2024, the Board approved the conversion of 85 Foreign Currency Convertible Bonds (FCCBs), originally allotted on June 28, 2024, into equity shares. This resulted in the allotment of 1,19,42,116 fully paid-up equity shares of face value of Rs 10 at a conversion price of Rs 59.84 per share, increasing the company's paid-up capital to Rs. 2.09 crore comprising of 20,91,212 equity shares of face value of Rs. 10 each. Subsequently, in October 2024, the company received in-principle approval from BSE for listing of 89,91,711 equity shares of face value of Rs 10 each at a price of Rs 59.84 per equity share. Along with this, the company also received approval for issuance of 10,00,000 warrants convertible into equity shares of face value of Rs 10 each at a price of Rs 60.50 per equity share on a preferential basis. In November 2024, the company approved the allotment of 8,40,000 warrants on a preferential basis to non-promoters at a price of Rs 60.50 per warrant, each convertible into one equity share of face value Rs 10. Highlights: -Board to consider multiple fundraising paths, including QIP, preferential issue and others -Financial results for FY25 show revenue stability at Rs 25.12 crores -The company was awarded the Certificate of Recognition under the India 5000 Best MSME Awards 2024 for QUALITY EXCELLENCE The company was also awarded the Certificate of Recognition under the India 5000 Best MSME Awards 2024 for excellence in quality, customer satisfaction, and societal impact. The company recently announced its Q4 FY25 and FY25 consolidated financial result. The consolidated revenue from operations remained stable at Rs 25.12 crore. The company reported a consolidated net loss of Rs 7.67 crore, mainly on account of investment into subsidiaries and higher finance costs. For Q4 FY25, company reported revenue of Rs 7.76 crore, a growth from Rs 4.76 crores reported in Q4 FY24. About Sampre Nutritions Ltd: Incorporated in 1991 and headquartered in Medchal, Telangana, Sampre Nutritions Ltd is engaged in manufacturing complete range of confectionery, eclairs, candies, lollipops, toffees, powder and centre filled products. The company is instrumental to deliver the growing volumes for most of the MNC's and beside producing its own brand. The group is one stop shop for complete range of confectionary productions. It has multiple MNC's as their clients as Mondelez India Pvt Ltd, Perfetti Van Melle, Reliance, DS Group, Nestle to name a few... The promoter is also the President for Indian Confectionery Manufacturers Association and is into the industry for the past 4 decades Sampre Nutrition is the first ISO certified company in South East Asia in this category since 1995 and is the 1st HACCP Certified Company by BVQI and FSSA Version 6 certified company with receiving Multiple Quality Awards World Wide. Further the company is associated with Mondelez India Pvt Ltd for manufacturing Eclairs for the past 30 Years and the Sole Manufacturer for Eclairs for the past 8 years for India, China and South African Market.
