Omaxe

SAT stays Sebi order barring Omaxe, others from securities market for 2 yrs

The Securities Appellate Tribunal (SAT) has stayed a Sebi order that barred realty firm Omaxe, its Chairman Rohtas Goel, Managing Director Mohit Goel and others from the securities market for two years for misrepresentation in the company's financial statements. The latest order came after Omaxe and others challenged the order passed by the Securities and Exchange Board of India (Sebi) on July 30. In its ruling on October 1, the appellate tribunal said, "direction at paragraphs No. 41(1) and (2) shall remain stayed, subject to deposit of penalty amount by the appellant within four weeks". Paragraphs No 41(1) and (2) pertain to securities market ban and prohibition from holding any position as key managerial personnel of any other listed company imposed on individuals by Sebi. Sebi, in its ruling, restrained Omaxe, Rohtas Goel, Mohit Goel and three others -- Sudhangshu S Biswal, Arun Kumar Pandey, and Vimal Gupta -- from the securities markets for two years. Additionally, these fiv

Omaxe Group to invest Rs 2,500 cr to build 50-acre complex in Delhi

Realty firm Omaxe Group will invest Rs 2,500 crore to develop a 50-acre commercial-cum-sports complex at Dwarka in the national capital to expand its business. In a statement, Omaxe said it has launched the commercial project 'The Omaxe State' comprising sports complex, retail area and a hotel. The company will build a cricket-cum-football stadium of global standards apart from indoor games facilities. Spanning over 50.4 acre in Dwarka Sector 19-B, the project is being developed in partnership with the Delhi Development Authority (DDA) under a public-private partnership (PPP) model, with an investment of over Rs 2,500 crore. "Delhi, the capital of India with a population of more than 3.3 crore, has long awaited a world-class cricket stadium," the company said. The project will feature a world-class, modern ICC and FIFA-standard international cricket-cum-football stadium with a seating capacity of over 30,000, as well as an international multi-sports indoor stadium that can accommo

Omaxe Q1 results: Net loss widens to Rs 147.44 cr on rise in expenses

Realty firm Omaxe Ltd has posted a consolidated net loss of Rs 147.44 crore in the first quarter of this fiscal year on higher expenses. The company's net loss stood at Rs 106.32 crore in the year-ago period. The total income increased to Rs 385.23 crore in the April-June period of this fiscal year, from Rs 220.85 crore in the corresponding period of the previous year, according to a regulatory filing on August 13. Total expenses rose to Rs 542.40 crore in the quarter under review, from Rs 352.39 crore a year ago. Omaxe is one of the leading real estate developers in the country. It has a presence in Delhi-NCR, Punjab, Haryana and Uttar Pradesh.

Omaxe Q4 results: Net loss at Rs 145 cr, income up 82% at Rs 542 cr

Realty firm Omaxe Ltd has posted a consolidated net loss of Rs 145.05 crore in the quarter ended March 2024 despite rise in income. The company had posted a net loss of Rs 105.47 crore in the year-ago period. Total income rose 82 per cent to Rs 542.32 crore in the fourth quarter of last fiscal from Rs 298.17 crore in the corresponding period of the previous year, according to a regulatory filing. During 2023-24, Omaxe posted a net loss of Rs 402.60 crore as against a net loss of Rs 347.91 crore in the preceding year. Total income more than doubled to Rs 1,634.88 crore in the last fiscal from Rs 798.01 crore in 2022-23 fiscal. Omaxe is one of the leading real estate developers in North India.

Stock of this realty company has zoomed 71% in the past 6 days

The counter that hit a 52-week low of Rs 42.39 on August 29, 2023, traded at a record low of Rs 37.96 in March 2009. It had hit a record high of Rs 581.24 in December 2007

Omaxe Group acquires over 5 acres of 'prime' land in Ludhiana for Rs 220 cr

Realty firm Omaxe Group on Tuesday said it has acquired over 5 acres of land in Ludhiana, Punjab for Rs 220 crore. In a statement, Omaxe said it has "secured more than 5 acres of prime land... through a competitive bidding process conducted by the Rail Land Development Authority (RLDA)." The acquisition was finalised at a bidding amount of Rs 220 crore, it added. Omaxe will develop both residential and commercial projects on this land parcel. "This acquisition aligns perfectly with our strategy to strengthen our presence in key markets and contribute to the growth of Ludhiana's real estate sector," Jatin Goel, Executive Director, Omaxe Group, said. Omaxe has delivered over 132 million square feet of realty space. It has delivered 21 group housing real estate projects, 10 integrated townships, and 14 commercial projects ( malls/office spaces/hotels/SCOs). The group has another 22 million sq ft of space under construction. This includes seven ongoing integrated townships, five gro

Omaxe Group acquires over 5 acres of land in Ludhiana for Rs 220 crore

The group has another 22 million sq ft of space under construction

Omaxe says promoters Rohtas Goel, Sunil Goel settled dispute amicably

Realty firm Omaxe on Monday said promoters Rohtas Goel and Sunil Goel have settled their dispute amicably, with the latter withdrawing legal cases pending in the NCLT and agreeing to transfer his share to his elder brother's family. Omaxe Group began its journey in 1987 when Rohtas Goel laid the foundation to undertake the construction and contracting business. The two brothers have been engaged in a legal battle since 2017 after Sunil Goel was removed from the board of directors on September 27. In a statement, Omaxe said Sunil Goel, his wife & HUF, have transferred their 9.45 per cent stake in Guild Builders Pvt Ltd (holding company of Omaxe) to elder brother Rohtas Goel and the entities controlled by him or his family members. These shares are equivalent to a 6.47 per cent indirect stake in Omaxe. Sunil Goel group would be further transferring the remaining holding in tranches. "Omaxe Group has amicably resolved the brother's legal dispute in the NCLT (National Company Law ...

Omaxe founder to be non-executive director; sons to lead realty firm

Realty firm Omaxe on Thursday announced a succession with founder Rohtas Goel relinquishing the role of executive director and delegating responsibilities to his two sons Mohit and Jatin Goel. Under the succession plan, elder son Mohit Goel has become Managing Director of Delhi-based Omaxe, while Jatin Goel is now executive director. In a statement, Omaxe said that Rohtas Goel, the Founder Chairman, has "relinquished his role as Executive Director and decided to continue in the capacity of a non-executive director and Chairman." Under the leadership of two brothers, Omaxe said the company would focus on reducing debt and exploring additional growth opportunities through public-private partnerships. "I am proud to witness the evolution of Omaxe and see my sons take the helm. This transition marks a turning point in the company's history, where Omaxe will embark on new avenues of growth and continue to make significant contributions to the real estate industry," Rohtas Goel said. Th

Chandni Chowk awaits new turn: A mall alongside the historical bylanes

Come September, modern retail will meet traditional shops and eateries in this market of tangible and intangible heritage

Realty firm Omaxe to invest Rs 2,100 crore to build sports, retail complex

Realty firm Omaxe has bagged a project from DDA to develop a sports complex and retail project at Dwarka in the national capital at a cost of Rs 2,100 crore. The company has secured this 50-acre project from the Delhi Development Authority (DDA) under the "Design Build Finance and Operate" model. It will build both outdoor and indoor sports facilities. A large cricket-cum-football stadium is also being planned, besides a retail area. The total investment is estimated at about Rs 2,100 crore, of which Rs 1,300 -1,400 crore will be on sports complex and the rest on retail area. Omaxe Ltd Chairman Rohtas Goel said: "We have bagged a project from DDA, located in Dwarka, New Delhi." It will be the first sports facility to be developed by the DDA in PPP (Public Private Partnership) model. "We will develop a world-class cricket stadium and sports complex in this project. It will be a marquee project facilitating the sports infrastructure at par with global standards," Goel said. The ret

Omaxe partners with Jio-bp to set up EV charging and swapping infra

Jio-bp will set up EV charging and swapping stations at various Omaxe properties across 12 cities under the agreement

I-T dept searches real estate group Omaxe group premises in NCR, others

The Income Tax department conducted searches at multiple premises linked to real estate group Omaxe in the national capital region and few other cities on charges of tax evasion

Omaxe posts Rs 39 cr loss in Sep quarter; revenue up at Rs 191 cr

Realty firm Omaxe on Friday reported a consolidated net loss of Rs 39.05 crore for the second quarter ended September 30. The company had reported a net loss of Rs 76.13 crore in the year-ago period. The total income, however, rose to Rs 191.34 crore in the second quarter of this fiscal from Rs 163.47 crore a year ago, according to a regulatory filing. Delhi-based Omaxe had posted a net loss of Rs 235.18 crore over a turnover of Rs 514.59 crore for the entire 2020-21 financial year.

Omaxe sells commercial, housing properties worth Rs 2,051 cr last fiscal

Realty firm Omaxe has sold properties worth Rs 2,051 crore in 2020-21, up 18 per cent from the previous fiscal, mainly on the back of better demand for its commercial projects in the national capital and Chandigarh. Omaxe is developing a multi-level parking cum commercial project Omaxe Chowk at Chandni Chowk in the national capital. "Our sales bookings in value terms increased to Rs 2,051 crore during the last fiscal from Rs 1,738.75 core in 2019-20 financial year," Omaxe Ltd Vice President (Business Development & Corporate Strategy) Rajan Gupta told PTI. Out of the total sales bookings, about 70 per cent contribution came from commercial projects in Delhi and new Chandigarh. The remaining sales came from housing projects at Ludhiana, Lucknow and New Chandigarh, he said. In volume terms, however, sales fell to 2.73 million sq ft from 4.99 million sq ft. Omaxe delivered only 2.71 million sq ft across various projects in FY21 as against 6.51 million sq ft in the previous fiscal ...

NCLT agrees to hear plea alleging mismanagement in real estate firm Omaxe

The National Company Law Tribunal (NCLT) has agreed to hear a petition filed against Omaxe Ltd alleging oppression and mismanagement in the affairs of the Delhi-based real estate firm. Terming the matter as "exceptional" and having "compelling circumstances" against the realty firm, a two-member Chandigarh-based NCLT bench has granted the waiver in the filing criteria under Section 244 of the Companies Act, over the plea filed by the Omaxe former joint managing director Sunil Goel and his wife. The tribunal observed that the applicants including Sunil Goel are the shareholders, promoters and were directors of Omaxe Ltd and also have considerable shareholding and interest in its holding company Guild Builders. Moreover, none of the members of Omaxe is eligible to file an application under Section 241 of the Companies Act, 2013 against the company over the allegations of oppression against minority shareholders. While granting the waiver, NCLT observed that individually, the petition

Omaxe hits 11-year low despite clarification, tanks 66% in 12 days

The stock was locked in lower circuit for 12th straight trading day

Omaxe freezes at 20% lower circuit for second straight day, hits 52-wk low

The company has deferred its Q4 results by one month to July 29, 2020.

PNB Housing Finance clarifies rumours about Omaxe group loan exposure

Besides, the company sanctioned Rs 200 crore for Project Grand Omaxe Lucknow in January 2018.

Omaxe gets nod to raise Rs 500 cr, dividend for public shareholders

The company said the real estate sector is passing through challenging times