Latest news with #Omaxe
Business Standard
5 days ago
- Business
- Business Standard
Omaxe rises after launching Rs 1,000-cr township project in Amritsar
Omaxe rose 3.37% to Rs 97.68 after the company said that it has expanded its footprint in Punjab with the launch of its latest integrated township, New Amritsar, through its subsidiaries, with an investment of over Rs 1,000 crore. Strategically located on GT Road, just 12 minutes from the Golden Temple, the company has acquired 260 acres for the project. In the first phase, Omaxe is developing 127 acres. The launch marks a significant milestone in Omaxes Punjab expansion strategy. The company already has a presence in six cities across the stateNew Chandigarh, Ludhiana, Patiala, Derabassi, Amritsar, and Bathinda. With this new township, Omaxe is reaffirming its long-term commitment to real estate development and urban infrastructure growth in the region. The project has secured RERA registration and all necessary approvals. Phase one will offer residential plots of 300, 500, and 1,000 sq. yards as part of a master plan that includes commercial spaces, a school, an exclusive clubhouse, and community infrastructure. The township is designed to offer modern amenities such as wide internal roads, landscaped green areas, walking and cycling tracks, uninterrupted water and power supply, and round-the-clock security. The layout supports a balanced, self-sustained lifestyle with room for future expansion. The project will be developed in phases, with the first phase expected to be completed in around four years. The initial investment is being funded through internal accruals, and the company has already achieved financial closure with sanctions from a financial institution. Based on future funding needs, Omaxe may explore additional financing options. Omaxe is in the business of developing real estate properties for residential, commercial, and retail purposes with a presence across 27 cities in 8 states of India. It has undertaken various projects in the areas of contractual construction, township development, building of commercial complexes, multi-storied apartments, etc. The companys consolidated net loss widened to Rs 148.32 crore in Q4 FY25, compared with a net loss of Rs 145.05 crore in Q4 FY24. Revenue from operations advanced 1.1% YoY to Rs 541.26 crore in Q4 FY25.
&w=3840&q=100)
Business Standard
5 days ago
- Business
- Business Standard
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.
India Today
6 days ago
- Business
- India Today
Why Omaxe shares rise on June 16, 2025?
Omaxe shares saw a rise in value on Monday, June 16, 2025, as they climbed 14.26% to reach an intraday high of Rs 107.98 per 1:45 PM, the shares maintained a robust increase of 11.69%, trading at Rs 105.55 per share. This performance notably outpaced the BSE Sensex, which was only up by 0.82% at 81,779.79 levels. Omaxe shares have gained 31.51% in the past month, and were trading at Rs 106.26, up over 11% at the time the articl was being written. advertisement The surge in Omaxe's share price can be attributed to the company's announcement of a new integrated township project named New Amritsar. The development, located on GT Road and just 12 minutes from the Golden Temple, spans 260 first phase will develop 127 acres with an investment exceeding Rs 1,000 crore. This announcement is a key part of Omaxe's strategy to expand its footprint in Punjab, where it has already established operations in six cities, including New Chandigarh and project is expected to enhance the company's portfolio and attract more investors, given its promising location and scale. The New Amritsar project is set to benefit from several ongoing infrastructure developments, such as the Delhi-Amritsar-Katra Expressway and the Amritsar Ring Road, which are expected to enhance city's airport is also undergoing a 300 crore expansion. This strategic positioning, coupled with the securing of financial closure and official approvals, has bolstered investor confidence in the project's comprehensive planning and approval process ensures that the project aligns with regulatory standards, further reassuring potential buyers and stakeholders. These infrastructure improvements are anticipated to boost the area's economic growth.
Time of India
6 days ago
- Business
- Time of India
Omaxe to invest Rs 1,000 crore in developing a township in Amritsar
Realty developer Omaxe is investing Rs 1,000 crore in developing a township in Amritsar , Punjab. Omaxe has acquired 260 acres of land for this township, and in the first phase, it is developing 127 acres. Omaxe already has presence across six cities in the state like New Chandigarh, Ludhiana, Patiala, Derabassi, Amritsar, and Bathinda. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like She Was Everyone's Dream Girl In 90's, This Is Her Recently. Investructor Undo 'The township is just 12 minutes from the Golden Temple and will soon include a hotel to further enhance its appeal. In the future, we also see the opportunity to expand this township through new land acquisitions,' said Mohit Goel, Managing Director, Omaxe Ltd . The New Amritsar township benefits from a region undergoing rapid infrastructure transformation. The upcoming 99 km Nakodar-Amritsar branch of the Delhi-Amritsar-KatraExpressway, which passes directly by New Amritsar, will significantly reduce travel times to Delhi and Jammu by 2026. In addition, the Amritsar Ring Road, a 98 km greenfield, four-lane highway encircling the city, is under construction and further enhances connectivity. Complementing these, the 4.5 km Elevated Road corridor links central Amritsar to the township, with planned extensions toward the university. Live Events The project has already secured RERA registration and necessary approvals. In the first phase, Omaxe is offering residential plots of 300, 500, and 1000 sq. yards. These will be part of a larger master plan that also includes commercial spaces, a school, an exclusive clubhouse, and community infrastructure. The project will be developed in phases, with the first phase expected to be completed in approximately four years. The initial investment is being funded through internal accruals. With strong market feedback and sanction received from financial institution, the project has achieved its financial closure. Based on future requirements, the company may consider additional funding routes to support further development.
Hindustan Times
6 days ago
- Business
- Hindustan Times
Omaxe expands footprint in Punjab, invests ₹1,000 crore in first phase of New Amritsar township
Omaxe Ltd, a listed real estate company, is expanding its footprint in Punjab with the launch of its new integrated township, New Amritsar, through its subsidiaries. Located 12 minutes from the Golden Temple, the company has acquired 260 acres for the project. In the first phase, it will develop 127 acres with an investment of over ₹1,000 crore, the company said in a regulatory filing on June 16. The project has received RERA registration and all necessary approvals and will be developed in phases. In the initial phase, Omaxe is offering residential plots of 300, 500, and 1,000 sq yards, with completion expected in about four years, the company said in a statement. The initial investment is being funded through internal accruals. The company said that with positive market response and sanctions from financial institutions, the project has achieved financial closure. Depending on future requirements, Omaxe may explore additional funding options to support further development. 'With this project, Omaxe is not just expanding geographically but also reinforcing its role in shaping the urban transformation of Punjab. New Amritsar is expected to emerge as a key destination for residents and investors looking for thoughtfully planned living spaces in the city," the statement said. These plots will be part of a larger master plan that also includes commercial spaces, a school, an exclusive clubhouse, and community infrastructure. The township will include wide internal roads, landscaped greens, walking and cycling tracks, uninterrupted water and electricity supply, and 24x7 security, it said. Omaxe already has a presence across six cities in Punjab like New Chandigarh, Ludhiana, Patiala, Derabassi, Amritsar, and Bathinda. With this new project, the company is reaffirming its long-term commitment to the region's real estate development and urban infrastructure growth, the company said in a statement. 'New Amritsar represents a natural extension of our vision to create well-planned, modern urban communities that serve both current needs and future growth. The township is just 12 minutes from the Golden Temple and will soon include a hotel to further enhance its appeal. In the future, we also see the opportunity to expand this township through new land acquisitions,' said Mohit Goel, managing director, Omaxe Ltd. 'We have demonstrated our capabilities by developing a 1,000+ acre township that has become one of the most loved destinations for homebuyers and commercial buyers across the entire Tricity region. With New Amritsar, we are committed to building the same trust and delivering a self-sustained ecosystem that supports a better quality of life,' he said. The New Amritsar township benefits from a region undergoing rapid infrastructure transformation. The upcoming 99 km Nakodar-Amritsar branch of the Delhi-Amritsar-Katra Expressway, which passes directly by New Amritsar, will significantly reduce travel times to Delhi and Jammu by 2026. In addition, the Amritsar Ring Road, a 98 km greenfield, four-lane highway encircling the city, is under construction and further enhances connectivity. Complementing these, the 4.5 km Elevated Road corridor links central Amritsar to the township, with planned extensions toward the university, the statement said. Additionally, the Sri Guru Ram Das Ji International Airport is undergoing Rs 300 crore expansion to double its capacity, boosting global accessibility, it added. Over the past 37 years, Omaxe has established a presence in 31 cities across 8 states in North and Central India and has delivered over 135 million sq ft of developed space. Also Read: Real estate developers acquire 2,335 acres for ₹40,000 crore in 2024; Tier 1 cities hold 72%, Tier 2 cities 28% share
