Omaxe to invest Rs 1,500 cr in four projects; mulls price hike
Realty firm Omaxe today said it will develop four new housing projects at an investment of Rs 1,500 crore over the next three years and is mulling increasing prices of existing projects within three months. - DLF garners Rs 100 cr from bookings of Delhi flats - Yesterday once more: Realty firms start raising prices - Omaxe to build township in Lucknow, eyes Rs 2,800 cr revenue - Plaza Centers India makes CBRE exclusive leasing partner - Sunteck Realty to raise Rs 500cr via QIP - HDIL to pay tax on Rs 350 cr additional income "We will launch four projects in the next two months... Our plan is to develop a total of about 2,000 units in these projects," Omaxe Chairman and Managing Director Rohtas Goel told reporters on the sidelines of a National Real Estate Development Council (NAREDCO) event here. The company would launch the projects in Faridabad, Indore, Allahabad and Chandigarh within the next two months and it has already acquired the land. "The total investment will be about Rs 1,500 crore and we are expecting a revenue realisation of Rs 2,300 crore over the next 30 months," Goel said. The National Capital-based company would consider increasing the prices of its products within this year. "I guess demand will be such that I may have to raise prices in my existing projects within this year," Goel said. Asked about the quantum of possible price hike, he said it would be in single-digit, but "in future, it may be more". Without giving details, Goel said the company has a debt of Rs 1,500 crore at present and would reduce it "drastically" by the end of this fiscal. He said the company would repay the debts through internal accruals and there is no plan to raise funds via private placements of shares.pay day uk commented:
They are making good investments which will give good results for them
06.09.2011
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Such 4 projects will really come in reality with good consequences.You have shared a good information.Thanks for such post.
07.11.2011
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Hoping such projects will really boost the economy and development by it\'s consequences.Thanks for such post.
08.11.2011
Wealth Transfer Asia commented:
Its really very nice step from the omaxe to work on new projects.They now the importance their these steps carry and it would definitely be very helpful for home seekers.
10.11.2011
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Omaxe is really very big company of the real estate sector and its really good investment plan they are making to increase their operations
11.11.2011
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22.12.2011
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29.12.2011