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Omaxe Sells Rs 1,335-Crore Properties in April-December

Housing

New Delhi: Realty firm Omaxe Ltd’s sales booking has increased 16 per cent to Rs 1,335 crore in the April-December period of the ongoing fiscal year.

“For the 9 month period ended December, we sold a total of 3.57 million sq ft, consisting of 3.10 million sq ft of residential spaces and 0.47 million sq ft of commercial spaces with a total sales value of Rs 1,335 crore. The average realisation for the year ended is Rs 3,744 per sq ft,” Omaxe’s management told investors in a conference call.

Omaxe had sold 2.87 million square feet for Rs 1,145 crore in the corresponding period of the previous fiscal year.

The group’s housing projects in New Chandigarh, Allahabad and Lucknow were the major contributors to the sales in the 9 month period.

“Gross debt as on December 31, 2015 stands at Rs 1,260 crore, while the net debt stood at Rs 1,028 crore. As on December 2015, the gross debt-equity ratio of the company stood at 0.55, while the net debt equity ratio for the company stood at 0.45,” according to the conference call transcript.

Omaxe has posted 27 per cent increase in consolidated net profit at Rs 17.68 crore for the quarter ended December as against Rs 13.91 crore in the year-ago period.

Income from operations rose to Rs 439.46 crore during the quarter under review from Rs 307.71 crore in the corresponding period of the previous year.

PTI

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