OMAXE - Omaxe
π’ Recent Corporate Announcements
Omaxe Limited's wholly-owned subsidiary, Omaxe New Chandigarh Developers Private Limited, has secured RERA registration certificates for four residential projects in Mohali, Punjab. The projects include three plotted developments (Phases 6, 6A, and 6C) and one built-up project named 'Resort The Retreat.' These approvals, received on March 11, 2026, allow the company to officially launch, market, and sell these properties starting March 12, 2026. The registrations are valid until late 2030, ensuring a clear legal pathway for project completion and revenue generation.
- Received RERA registration for 4 residential projects in Mohali, Punjab, including plotted and built-up categories.
- Official launch date for all four projects is scheduled for March 12, 2026.
- Registration certificates for the projects are valid until various dates in late 2030 (October to December).
- Approvals enable the subsidiary to immediately commence sales, transfers, and advertising activities.
- Projects are situated across Kharar, Village Ranimajra, Bansapur, Rasoolpur, and Dhodemajra in SAS Nagar.
Omaxe Limited's wholly-owned subsidiary, Omaxe New Chandigarh Developers Private Limited, has secured RERA registration for four residential projects in Mohali, Punjab. The projects include three plotted developments (Phase 6, 6A, and 6C) and one built-up residential project named 'Resort The Retreat.' These approvals, effective from March 12, 2026, allow the company to officially commence sales, transfers, and advertising activities. The registrations provide long-term operational visibility with validity extending until late 2030.
- Received RERA registration for 4 distinct residential projects in the New Chandigarh/Mohali region.
- Projects include 3 plotted developments and 1 built-up residential project (Resort The Retreat).
- Official launch date for all four projects is scheduled for March 12, 2026.
- Registration certificates are valid until late 2030, with specific dates ranging from October to December 2030.
- Approvals enable the company to target both domestic and international markets for sales.
Omaxe Limited's wholly-owned subsidiary, Omaxe New Chandigarh Developers Private Limited, has successfully obtained RERA registration for its commercial plotted project, 'URBAN SQUARE-14', in Mohali, Punjab. The project is scheduled for launch on March 7, 2026, with the registration (PBRERA-SAS80-PC0414-032026) valid until December 31, 2028. This regulatory milestone allows the company to legally commence advertising, sales, and transfers for the project. The approval is expected to enhance brand credibility and contribute positively to the company's consolidated financial performance over the project lifecycle.
- Received RERA registration PBRERA-SAS80-PC0414-032026 for the 'URBAN SQUARE-14' project in Mohali.
- The project is categorized as Commercial (Plotted) and is set for an official launch on March 7, 2026.
- The RERA license is valid for nearly three years, expiring on December 31, 2028.
- Approval enables the subsidiary to start revenue-generating activities including sales and marketing.
- The project caters to both domestic and international markets, potentially broadening the investor base.
Omaxe Limited has reported a phenomenal market response for its new Faridabad projects, achieving 100% sales for both 'Omaxe Residences' and 'The Grand Europe'. The company sold all 120 commercial units of The Grand Europe on the first day of launch, while all 173 ultra-luxury residential units were sold within a few days. These developments represent a combined investment of over βΉ1,060 crore, targeting the high-end segment with residential unit realizations between βΉ3 crore and βΉ4 crore. This successful launch underscores strong brand equity and demand for premium real estate in the Faridabad region.
- 100% of the 173 ultra-luxury residential units at Omaxe Residences sold out within days of launch.
- All 120 commercial units at The Grand Europe sold out on the very first day of the launch.
- Total estimated project cost stands at βΉ1,060.98 crore (βΉ927.20 crore for Residences and βΉ133.78 crore for Grand Europe).
- Residential units achieved high average realizations ranging from βΉ3 crore to βΉ4 crore.
- Projects are RERA-approved with completion targets set for August and December 2030.
Omaxe Limited's wholly-owned subsidiary, Omaxe New Chandigarh Developers Private Limited, has received the RERA Registration Certificate for its commercial plotted project, 'The Lake Commercial Phase 2,' in Mohali, Punjab. This regulatory approval (PBRERA-SAS80-PC0410-022026) is a critical milestone that allows the company to officially commence sales, advertising, and transfers for the project. The registration is valid until October 15, 2030, providing a clear five-year window for development and monetization. This launch is expected to positively impact the company's consolidated financial performance as inventory is brought to market.
- Received RERA registration for 'The Lake Commercial Phase 2' situated in Mohali, Punjab.
- The project is categorized as Commercial (Plotted) and caters to both domestic and international markets.
- Registration number PBRERA-SAS80-PC0410-022026 is valid until October 15, 2030.
- Approval enables the wholly-owned subsidiary to immediately begin sales and marketing activities.
Omaxe Limited's wholly-owned subsidiary, Omaxe New Chandigarh Developers Private Limited, has secured RERA registration for its commercial project 'The Lake Commercial Phase 2' in Mohali, Punjab. The registration (PBRERA-SAS80-PC0410-022026) is valid until October 15, 2030, and allows the company to legally commence sales, marketing, and advertising activities. This approval is expected to enhance brand value and contribute positively to the company's consolidated financial performance. The project is a commercial plotted development that was officially launched on March 5, 2026.
- Received RERA registration for 'The Lake Commercial Phase 2' located in Mohali, Punjab.
- Registration number PBRERA-SAS80-PC0410-022026 is valid until October 15, 2030.
- The project is a commercial plotted development launched on March 5, 2026.
- Approval enables the subsidiary to legally advertise, sell, and transfer units in the project.
Omaxe Limited has approved the allotment of 185 Unrated Senior Secured Non-Convertible Debentures (NCDs) on a private placement basis, raising βΉ18.50 crore. This is the third tranche of a larger planned issuance totaling βΉ199.40 crore, with 633 NCDs allotted to date. The instruments offer a committed return of 12% IRR and are secured by mortgages on specific project lands and personal guarantees from promoters. The tenure is set for up to 54 months, with redemption linked to project cash flows.
- Allotment of 185 NCDs with a face value of βΉ10 lakh each, aggregating to βΉ18.50 crore.
- Part of a larger fundraise of up to 1,994 NCDs totaling βΉ199.40 crore.
- Instruments carry a 12% IRR committed return with a 3% penalty IRR for payment delays.
- Secured by first charge on project land in Chandigarh and other locations plus promoter guarantees.
- Total allotment under this specific NCD series has now reached 633 units.
Omaxe Limited's wholly-owned subsidiary, Omaxe World Street Private Limited, has secured RERA registration for two major projects in Sector-79, Faridabad. The projects include 'Omaxe Residences,' a group housing development, and 'SCO PHASE-3 EXTENSION,' a commercial SCO plot project. These registrations, valid until late 2030, allow the company to officially launch, market, and sell these properties. This regulatory milestone is expected to positively impact the company's consolidated financial performance and brand credibility.
- Received RERA registration for 'Omaxe Residences' (Group Housing) valid until December 22, 2030
- Obtained RERA approval for 'SCO PHASE-3 EXTENSION' (Commercial) valid until August 31, 2030
- Both projects are located in Sector-79, Faridabad, and were launched on February 18, 2026
- Approvals enable the subsidiary to legally advertise, sell, and transfer project units
Omaxe Limited's wholly-owned subsidiary, Omaxe World Street Private Limited, has received RERA registration for two significant projects in Sector-79, Faridabad. The projects include 'Omaxe Residences' (Group Housing) and 'SCO PHASE-3 EXTENSION' (Commercial SCO Plots). These approvals allow the company to officially commence advertising, sales, and transfers, which is expected to positively impact consolidated financial performance. The residential project registration is valid until December 2030, while the commercial project is valid until August 2030.
- Received RERA registration for 'Omaxe Residences' (Group Housing) in Sector-79, Faridabad
- Received RERA registration for 'SCO PHASE-3 EXTENSION' (Commercial SCO Plots) in Sector-79, Faridabad
- Residential project registration (HRERA-PKL-FBD-848-2026) is valid until December 22, 2030
- Commercial project registration (HRERA-PKL-FBD-849-2026) is valid until August 31, 2030
- Approval enables the company to legally market, sell, and transfer units in these projects
Omaxe Limited has approved the allotment of 50 Unrated Senior Secured Non-Convertible Debentures (NCDs) on a private placement basis, totaling Rs 5 crore. This allotment is the second tranche of a larger fundraising program aimed at raising up to Rs 199.40 crore. The NCDs offer a committed return of 12% IRR and are secured by mortgages on project lands in Chandigarh and other locations. The tenure is set for up to 54 months from July 2025, with redemption linked to project cash flows.
- Allotment of 50 NCDs with a face value of Rs 10 lakh each, aggregating to Rs 5 crore
- Part of a larger planned issuance of up to 1,994 NCDs totaling Rs 199.40 crore
- Offers a committed return of 12% IRR with redemption from project cash flows
- Secured by first charge on project land (Grand Omaxe, Resort-A&B Chandigarh) and personal guarantees
- Tenure of up to 54 months from the initial allotment date of July 16, 2025
Omaxe Limited has approved its unaudited financial results for the quarter and nine months ended December 31, 2025. The results are marked by an 'Emphasis of Matter' from auditors regarding an ongoing legal battle with SEBI over an order dated July 30, 2024. While the Securities Appellate Tribunal (SAT) has granted a stay on certain SEBI directions, the next hearing is scheduled for March 24, 2026. Management maintains that these proceedings have no material impact on the current financial results.
- Board approved unaudited standalone and consolidated financial results for Q3 and nine months ended Dec 31, 2025.
- Next SAT hearing regarding the SEBI order (covering FY 2018-19 to 2020-21) is set for March 24, 2026.
- Auditors noted 144 entities under significant control contributed a total revenue of Rs 0.42 crores for the quarter.
- SAT granted a stay on specific directions of the SEBI order on October 01, 2024.
- Statutory auditors issued a Limited Review Report with an 'Emphasis of Matter' regarding the regulatory litigation.
Omaxe Limited's step-down wholly-owned subsidiary, RPS Suncity Promoters & Developers, has secured RERA registration for its residential plotted project "Natures Home" in Bathinda, Punjab. The project is scheduled for launch on February 6, 2026, with the registration valid until September 30, 2030. This regulatory clearance is a critical milestone that allows the company to legally commence sales, marketing, and advertising activities. The approval is expected to enhance brand credibility and contribute positively to the company's consolidated financial performance as project monetization begins.
- RERA Registration (PBRERA-BTI08-PR1311) received for the 'Natures Home' residential plotted project in Bathinda.
- Project launch date set for February 6, 2026, targeting both domestic and international markets.
- The regulatory approval is valid for a duration of over 4 years, expiring on September 30, 2030.
- Enables the subsidiary to legally advertise, sell, and transfer units, facilitating revenue generation.
Omaxe Limited's step-down wholly-owned subsidiary, RPS Suncity Promoters & Developers, has received RERA registration for its residential plotted project 'Natures Home' in Bathinda, Punjab. The project is scheduled for launch on February 6, 2026, and the registration remains valid until September 30, 2030. This regulatory milestone enables the company to legally market, sell, and transfer plots, which is expected to positively impact consolidated financial performance. The project targets both domestic and international markets, strengthening Omaxe's presence in the Punjab region.
- Project 'Natures Home' received RERA registration (PBRERA-BTI08-PR1311) for a residential plotted development.
- Official project launch date is set for February 6, 2026, in Bathinda, Punjab.
- The RERA registration is valid until September 30, 2030, providing a clear timeline for project execution.
- Developed by a step-down wholly-owned subsidiary, ensuring 100% economic interest for Omaxe Limited.
- The approval allows for immediate advertising and sales activities, facilitating cash flow generation.
Omaxe Limited has scheduled a meeting of its Board of Directors on February 6, 2026, to consider and approve the unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025. In accordance with SEBI insider trading regulations, the company's trading window for equity shares has been closed since January 1, 2026. The window is set to reopen on February 9, 2026, following the 48-hour post-announcement cooling period. This is a routine regulatory filing ahead of the company's quarterly earnings release.
- Board meeting scheduled for February 6, 2026, to discuss Q3 FY26 results
- Covers both standalone and consolidated financial performance for the period ended December 31, 2025
- Trading window remains closed from January 1, 2026, to February 8, 2026
- Compliance with Regulation 29 of SEBI (LODR) Regulations, 2015
Omaxe Limited's step-down subsidiary, Estatelance Developers Private Limited, has secured RERA registration for its 'Omaxe New Ludhiana' project in Punjab. This residential and commercial plotted development is scheduled for launch on January 21, 2026, following the receipt of registration number PBRERA-LDH45-PR1310. The approval is valid until November 30, 2030, allowing the company to legally commence sales, advertising, and transfers. This regulatory milestone is expected to positively impact the company's consolidated financial performance and brand credibility.
- Received RERA registration (PBRERA-LDH45-PR1310) for the 'Omaxe New Ludhiana' project in Punjab
- The project consists of residential and commercial plotted developments with a launch date of January 21, 2026
- The regulatory approval is valid for a period of nearly five years, ending on November 30, 2030
- Enables the subsidiary to officially market and sell the project, facilitating future cash inflows
- The project caters to both domestic and international markets, expanding the potential buyer base
Financial Performance
Revenue Growth by Segment
Consolidated revenue from operations decreased by 3.3% YoY to INR 1,560.99 Cr in FY25 from INR 1,614.32 Cr. Standalone revenue saw a sharper decline of 44.7% YoY, falling to INR 389.85 Cr from INR 705.35 Cr, primarily due to the timing of project handovers and revenue recognition cycles.
Geographic Revenue Split
The company operates across 8 states including Punjab, Haryana, Uttar Pradesh, Madhya Pradesh, Rajasthan, Delhi, Uttarakhand, and Himachal Pradesh, with a significant focus on North and Central India across 31 cities.
Profitability Margins
The company reported a consolidated net loss of INR 685.40 Cr in FY25, widening by 68.8% from a loss of INR 405.91 Cr in FY24. Standalone net loss also increased to INR 217.03 Cr from INR 140.32 Cr, driven by high finance costs and lower revenue recognition relative to incurred expenses.
EBITDA Margin
Core profitability remains negative with a consolidated loss before tax of INR 764.02 Cr in FY25 compared to INR 507.07 Cr in FY24. This 50.7% increase in losses is attributed to a 49.8% spike in finance costs and a 12.4% rise in operating expenditures.
Capital Expenditure
Landmark capital allocations include a INR 1,500 Cr investment in 'The Omaxe State' in Dwarka, Delhi, and a INR 600 Cr investment in the 'New Amritsar' project. The group has a massive upcoming project pipeline totaling over INR 20,000 Cr.
Credit Rating & Borrowing
CARE Ratings reaffirmed 'CARE BB+; Stable' for long-term bank facilities. Borrowing costs are high, ranging between 14% and 15%, which the company is actively working to reduce through long-term debt restructuring.
Operational Drivers
Raw Materials
Primary raw materials include steel, cement, bricks, and sand, which constitute the bulk of construction costs. Specific percentage breakdowns for each material were not disclosed.
Import Sources
Materials are primarily sourced domestically within India, specifically from states where projects are located such as Haryana, Punjab, and Uttar Pradesh to optimize logistics.
Capacity Expansion
The company has delivered 140.17 million sq. ft. to date. Current expansion includes launching projects with a total value exceeding INR 20,000 Cr, including the 127-acre Omaxe New Amritsar Integrated Township.
Raw Material Costs
Operating expenditure, which includes raw material and construction costs, rose 12.4% YoY to INR 2,010.84 Cr on a consolidated basis, reflecting increased construction activity despite lower recognized revenue.
Manufacturing Efficiency
At a standalone level, ~70% of projects by cost were completed as of December 2024. Consolidated sold status stands at 56% by value, with 73% of the sold value already collected.
Strategic Growth
Expected Growth Rate
20-25%
Growth Strategy
Growth is targeted through a strategic pivot toward high-value commercial and retail infrastructure in Tier 1 cities, exemplified by the Dwarka project (projected INR 2,500 Cr retail revenue) and Omaxe Chowk (INR 2,500 Cr potential). The company is also deleveraging, having repaid INR 700+ Cr to Samman Capital and fully settling SWAMIH Fund obligations to strengthen the balance sheet.
Products & Services
Integrated townships, residential apartments, commercial offices, retail hubs, hospitality spaces, and multi-sports stadiums.
Brand Portfolio
Omaxe, World Street (Faridabad), Omaxe Chowk (Delhi), The Omaxe State (Dwarka), Royal Residency (Ludhiana).
New Products/Services
Indiaβs first integrated multi-sports stadium and retail hub in Dwarka, and the Omaxe New Amritsar Integrated Township.
Market Expansion
Expansion is focused on under-served regions in Tier 2/3 cities and premium commercial hubs in Metro/Tier 1 cities like Delhi and Chandigarh.
Strategic Alliances
Joint ventures include Giant Dragon Mart Private Limited (50% stake) and various project-specific subsidiaries like Omaxe Be Together for busport developments.
External Factors
Industry Trends
The industry is shifting toward integrated living and mixed-use destinations. Omaxe is positioning itself by moving from pure residential to large-scale retail and hospitality hubs to diversify revenue streams.
Competitive Landscape
Operates in a highly fragmented and regulated market with competition from both national developers and local players in Tier 2 cities.
Competitive Moat
Moat is built on a 38-year track record, a massive delivery of 140 million sq. ft., and significant land holdings in high-growth corridors. This is sustainable due to the high entry barriers and regulatory complexities (RERA) of the Indian real estate market.
Macro Economic Sensitivity
Highly sensitive to interest rate fluctuations and GDP growth, as these directly impact consumer credit availability and demand for real estate.
Consumer Behavior
Increasing consumer preference for 'all-in-one' environments (live-work-play) is driving the company's township and mixed-use strategy.
Geopolitical Risks
Minimal direct impact due to domestic focus, though global commodity price spikes (steel/cement) affect construction costs.
Regulatory & Governance
Industry Regulations
Strict adherence to RERA (Real Estate Regulatory Authority) is required; for example, the Faridabad project is registered under HRERA-PKL-FBD-791-2025.
Taxation Policy Impact
The company faces a fresh tax demand notice of INR 298.31 Cr. Total tax-related contingent liabilities stand at INR 351.29 Cr.
Legal Contingencies
Total contingent liabilities are INR 685.61 Cr. This includes an arbitration case with Patiala Urban Planning & Development Authority (PUDA) with an estimated liability of ~INR 85 Cr, for which INR 145 Cr has been placed in escrow.
Risk Analysis
Key Uncertainties
The primary uncertainty is the timing of revenue recognition, which depends on project completion and possession. Adverse outcomes in ongoing litigations could impact liquidity by up to INR 685 Cr.
Geographic Concentration Risk
High concentration in North India, particularly the NCR region, Punjab, and Haryana.
Third Party Dependencies
High dependency on customer advances for project execution, as the company maintains a low debt-to-project cost ratio of 9-15%.
Technology Obsolescence Risk
Low risk, but the company is adopting new construction technologies to mitigate the 10-15% cost overruns common in the industry.
Credit & Counterparty Risk
Receivables status is satisfactory; at a consolidated level, 27% of the sold value is yet to be received, providing a future cash flow cushion.