Om Metals Infraprojects Ltd., India’s leading hydro-mechanical engineering company, today announced the launch of its second residential project in Kota, ‘Om Urban Heights’, after successful completion of ‘Om Enclave’.
The project is spread over 10, 000 sq. meter area of land and is strategically located at Rawat bhata by-pass in Kota, Rajasthan. Om Urban Heights includes the development of 200 apartments comprising of 1, 2, 3 and 4 BHK. The expected realization from the project would be Rs. 55 crore spread over one and half years. The expected investment in the project including construction cost would be Rs. 32 crore. The Company has pre sold 25% of the project. The cash flows of the project will take care of the entire cost of the project.
The project will have special play area for children, swimming pool, amphitheatre, gardens and open lawns, jogging tracks and central landscaping. In addition to all the luxuries, the township offers abundant 24x7 power and water supply.
The Company has successfully completed the execution of ‘Om Enclave’ which offers magnificent, ultra modern, complete residential township right on NH 12 during the year. The company has already realized Rs. 30 crore from the project. The possession of all the flats in “Om Enclave” will be given by end of March 2010.
Mr. Vikas Kothari, Director – Business Development, Om Metal Infraprojects Ltd, said, “This is part of our strategy to monetize our investments made in real estate in the last 2 years. After successful execution of ‘Om Enclave’, we are confident that this project will remain as an independent project, without any financial commitment from the company. Our real estate projects remain as PAT accretive.”
About Om Metals Infraprojects Ltd.
Om Metals Infraprojects Ltd. (OCI) (BSE Code: 531092) is an ISO 9001 certified company, set up in 1971, has flourished into a front-runner hydro-mechanical engineering company in the country with many achievements to its credit. It has leveraged its capabilities and skills in the development and construction sectors, where, engineering, steel fabrication and turnkey projects form a significant component for hydro-electric power, irrigation and river linking projects coming up in the country and abroad. The company is also engaged in the real estate projects like developing residential, commercial, entertainment, leisure and hotel formats in the country. In 2006, the company entered into the business of development of SEZ and port at pondicherry. Visit www.ommetals.com