Commercial, Residential, Rental Properties in India
Real Estate India: IndianGround.Com
IndianGround.Com ยป Indian Property Developers » New Developments by Omaxe
New Developments

1) Omaxe Public Issue

22nd December, 2006: Omaxe Ltd. filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for a public issue of 1.78 crore equity shares.
2.96 lakh of these shares have been reserved for eligible employees of the company. There will also be an additional over-allotment option of 17.5 lakh equity shares.

The issue will account for 11.20% of the fully diluted post issue paid-up capital of the company if the over allotment option is exercised. The pricing of the share is yet to be finalised, though it has been determined that 60% of the offer will be allocated to institutional buyers, 30% to retail bidders, and 10% to non-institutional bidders. The IPO is expected to hit the market in March 2007.

Diluting 10% of their stake in this public issue, the Omaxe promoters will repay their loans and invest the remaining in the 47 projects they already have in hand. A sizeable portion of the investment of Rs.8, 805 crore will be in 19 residential complexes in Punjab, Chhatisgarh, Uttaranchal, Haryana and Uttar Pradesh.

Omaxe has detailed its largest housing project in Raipur in Chhattisgarh, where Rs. 1652 crore will be invested to develop 13.5 million sq. ft area. Rs. 640 crore is slated for a mega project in Faridabad , and Rs. 5000 crore in integrated townships in Haryana, Punjab, Rajasthan, U.P. and M.P.

On the commercial front, 13 projects including shopping malls, commercial complexes, multiplexes and office premises in nine cities in North India at a cost of Rs 1,300 crore will be developed.

Omaxe has registered a net profit of Rs.103 crore in the first half of 2006-07, on a business turnover of Rs. 819 crore.

2) Omaxe ventures into Gujarat:

January 19, 2007: Tapping the latent market in Gujarat, Omaxe will be setting up another wedding mall on the lines of its 2 operational malls in Patiala and Agra.

A house-to-home mall is also being considered, based on the Gurgaon format, which will accommodate all services and products related to interiors. The company is on a land search for both these malls in Gujarat.

3) Future Plans - Omaxe

Omaxe has successfully re-defined the living and working experience in the last decade, and now has exhaustive plans to upgrade the living environs of the smaller cities in North India in the next five years, with the establishment of Omaxe cities.

With a sizeable volume of business already coming from group housing, the accent on this segment will continue. The Omaxe brand is being carried to Tier II cities, where the company is in various stages of land acquisition or site development, and construction is likely to commence by March 2007. With each township spread over 50 to 80 acres, premium homes will be offered with a choice of plots, villas and apartments, complete with commercial and entertainment facilities.

An investment of Rs. 15,000 crore has been earmarked for residential property development concentrated largely in the NCR. Omaxe has 3000 acres of land reserved for 47 projects in the region, and Rs.2000 crore has already been invested in it so far. 41 lakh square ft. of residential space will be added to the 7.1 lakh sq. ft constructed so far.

In all the group housing projects Omaxe is taking up, the price range is between Rs 1,400 per sq ft to Rs 6,000 per sq ft, depending on the location. In the following five years, Omaxe will cross the northern limits to establish its presence in Southern India, Kolkata, Pune, Goa and Bangalore

On the commercial front, Omaxe will develop 22 lakh sq ft.of space. After the success of its wedding malls in Patiala and Agra, Gurgaon is the next wedding destination. A wedding mall and a house-to-home mall project in Gujarat are also to be initiated this year.

Omaxe has successfully combined commercial, retail and hospitality in a single format edifice, like the Omaxe Citadel, and facilities for a banquet hall in its wedding malls. The Omaxe strategy reflects the Company’s foresightedness of the growing market, and one can only expect more pioneering efforts in the future.


- Latest Projects
- Real Estate & Omaxe
- New Developments

- Ansals
- Omaxe Limited
- DLF
- Parsvnath Developers
- Unitech Limited
- Emaar MGF
- Paras Buildtech




Sign Up for Real Estate Trends, News, Events in India


 


Invest in Indian Real Estate - Apartments/Flats - Houses - Office Space - Land
Property Market India | Calculators | Real Estate Glossary| Advertise | Feedback

Copyright © 2006-2014 - Site Terms & Conditions - Disclaimer - All Rights Reserved.

The entire content of the IndianGround.Com website is protected under the provisions of related Indian and International copyrights acts. For more information refer to our site disclaimer and terms of use.