OMAXE - Omaxe
π’ Recent Corporate Announcements
Omaxe Limited, through its wholly-owned subsidiary, has announced a Rs 250 crore investment in its new residential project 'Omaxe Cassia' in Lucknow. The project has demonstrated strong market demand, with 300 out of 360 units already sold as construction begins. Located within the 690-acre Omaxe Metro City township, the development features eight towers of 2BHK and 3BHK apartments. The company aims to complete and deliver the project within a three-year timeframe in compliance with RERA regulations.
- Investment of approximately Rs 250 crore for the development of 'Omaxe Cassia' in Lucknow
- Strong sales traction with 300 out of 360 units (83%) already sold before full-scale construction
- Project includes 8 towers offering a mix of 2BHK and 3BHK apartments
- Part of the larger 690-acre Omaxe Metro City township on Raebareli Road
- Slated for completion and delivery within the next three years
Omaxe Limited's wholly-owned subsidiary, Omaxe Garv Buildtech Private Limited, has secured RERA registration for its 'COMMERCIAL-3 BLOCK-3' project in Lucknow. The registration (UPRERAPRJ787830/04/2026) is valid until December 17, 2030, allowing the company to officially commence sales and marketing activities. This commercial development in Sarojini Nagar is expected to contribute to the company's consolidated revenue and strengthen its brand presence in Uttar Pradesh. The approval ensures regulatory compliance and provides legal protection for potential buyers, fostering trust and transparency.
- Wholly-owned subsidiary Omaxe Garv Buildtech Private Limited received RERA registration for 'COMMERCIAL-3 BLOCK-3' in Lucknow.
- The RERA registration (UPRERAPRJ787830/04/2026) is valid for a period ending December 17, 2030.
- The approval enables the company to immediately start the sale, transfer, and advertising of the commercial project.
- The project is located in Sarojini Nagar, Lucknow, across multiple Khasra numbers including 635(P) and 2156(P).
Omaxe Limited's wholly-owned subsidiary, Omaxe Garv Buildtech Private Limited, has secured RERA registration for its 'COMMERCIAL-3 BLOCK-3' project in Lucknow, Uttar Pradesh. The registration (UPRERAPRJ787830/04/2026) is valid until December 17, 2030, allowing the company to officially commence sales, transfers, and advertising. This regulatory milestone is expected to enhance brand credibility and positively impact the company's consolidated financial performance. The project is designed to cater to both domestic and international markets, strengthening Omaxe's commercial portfolio.
- Wholly-owned subsidiary Omaxe Garv Buildtech received RERA registration for the 'COMMERCIAL-3 BLOCK-3' project in Lucknow.
- The registration (No. UPRERAPRJ787830/04/2026) provides a valid development and sales window until December 17, 2030.
- Approval enables the company to legally market and sell units, facilitating immediate revenue generation potential.
- The project is located in Sarojini Nagar, Lucknow, and targets both domestic and international buyer segments.
Omaxe Limited has successfully obtained RERA registration for its new residential plotted project, 'Omaxe Royal Nest,' located in Ludhiana, Punjab. The project is officially scheduled for launch on April 23, 2026, with the regulatory license valid until January 31, 2031. This approval is a critical milestone as it permits the company to begin advertising, sales, and transfers for the project. Management expects this development to strengthen brand value and positively contribute to the company's consolidated financial performance.
- Received RERA Registration (PBRERA-LDH44-PR1370-042026) for the 'Omaxe Royal Nest' project in Ludhiana.
- Official project launch date set for April 23, 2026, targeting the Residential (Plotted) category.
- The regulatory license is valid for a period of nearly 5 years, expiring on January 31, 2031.
- Project designed to cater to both domestic and international markets to maximize sales reach.
Omaxe Limited has successfully obtained the RERA registration certificate for its residential plotted project, 'Omaxe Royal Nest,' located in Ludhiana, Punjab. The registration (PBRERA-LDH44-PR1370-042026) is valid until January 31, 2031, and allows the company to officially commence sales, advertising, and transfers. The project is scheduled for launch on April 23, 2026, targeting both domestic and international markets. This regulatory milestone is expected to enhance brand credibility and positively impact the company's consolidated financial performance.
- Received RERA registration for 'Omaxe Royal Nest' residential plotted project in Ludhiana, Punjab
- Project launch date scheduled for April 23, 2026, targeting domestic and international buyers
- Regulatory approval is valid for nearly five years, expiring on January 31, 2031
- Approval enables the company to legally market, sell, and transfer units, facilitating revenue generation
Omaxe Limited has approved the allotment of 313 Unrated Senior Secured Non-Convertible Debentures (NCDs) on a private placement basis, raising Rs 31.30 crore. This is the fourth tranche of a larger fundraising program totaling up to Rs 199.40 crore, with 946 NCDs allotted to date. The NCDs offer a committed return of 12% IRR and are backed by extensive security, including mortgages on project land and personal guarantees. The tenure is set for 54 months from the initial allotment date of July 16, 2025.
- Allotment of 313 NCDs with a face value of Rs 10 lakh each, aggregating to Rs 31.30 crore
- Cumulative allotment reaches 946 NCDs out of a total planned issue of 1,994 NCDs (Rs 199.40 crore)
- Instruments carry a 12% IRR committed return with a 54-month tenure from July 2025
- Secured by first charge on project land in Chandigarh and other locations, plus personal and corporate guarantees
- Additional 3% IRR penalty applicable in case of payment defaults exceeding three months
Omaxe Limited has announced the closure of its trading window for all designated persons and their immediate relatives starting April 1, 2026. This closure is in compliance with SEBI (Prohibition of Insider Trading) Regulations for the upcoming financial results. The window will remain closed until 48 hours after the declaration of the Audited Standalone and Consolidated Financial Results for the quarter and financial year ending March 31, 2026. The specific date for the board meeting to approve these results will be announced at a later time.
- Trading window closure begins on Wednesday, April 1, 2026.
- Closure is related to the Audited Standalone and Consolidated Financial Results for Q4 and FY 2025-26.
- Restriction applies to all Designated Persons and their immediate relatives as per the company's Code of Conduct.
- The window will reopen 48 hours after the financial results are officially declared to the exchanges.
Omaxe Limited is developing 'The Omaxe State' in Dwarka, a massive βΉ2,500 crore integrated sports and lifestyle destination spread over 50 acres. The project features a 30,000-seater stadium, which now includes a dedicated 1,500-seat 'Pink Stand' named after cricketer Harmanpreet Kaur to enhance inclusivity. The development is a 5-in-1 destination comprising a 48,000 sq.mt. retail high-street, a 158-key five-star Gateway Hotel by IHCL, and a membership-based sports club. This flagship project, developed in partnership with the DDA, positions Omaxe as a key player in high-value urban infrastructure in the NCR.
- Total investment of approximately βΉ2,500 crore for a 50-acre integrated sports and retail hub in Dwarka.
- Stadium features a 30,000-seat capacity with a dedicated 1,500+ seat 'Pink Stand' for women and families.
- Partnership with IHCL for a 158-key five-star Gateway Hotel and Bentel Associates for architectural master planning.
- Development includes 48,000 sq.mt. of retail space and a 30,000 sq.mt. indoor-outdoor sports center.
- Infrastructure designed to international standards for hosting global events like the Olympics and FIFA.
Omaxe Limited's wholly-owned subsidiaries have received RERA registration certificates for two residential projects, enabling immediate sales and marketing activities. The 'Integrated Residential Township Phase 6B' in New Chandigarh is valid until December 1, 2030, while the 'METRO CITY P-8B' project in Lucknow is valid until October 9, 2027. Both projects are scheduled for launch on March 23, 2026, targeting both domestic and international buyers. These approvals are expected to positively impact the company's consolidated financial performance by unlocking new inventory for sale.
- Received RERA registration for Integrated Residential Township Phase 6B in Punjab, valid until Dec 1, 2030
- Obtained RERA approval for METRO CITY P-8B in Lucknow, UP, with validity until Oct 9, 2027
- Both residential plotted projects are officially set for launch on March 23, 2026
- Approvals grant legal clearance to advertise, sell, and transfer units, facilitating future cash inflows
Omaxe Limited's wholly-owned subsidiaries have secured RERA registration certificates for two major residential projects scheduled for launch on March 23, 2026. The first project, 'Integrated Residential Township Phase 6B' in New Chandigarh, Punjab, has a RERA validity until December 1, 2030. The second project, 'METRO CITY P-8B' in Lucknow, Uttar Pradesh, is valid until October 9, 2027. These approvals are critical as they legally permit the company to market, sell, and transfer units, which is expected to positively impact consolidated revenue and brand value.
- Received RERA registration for Integrated Residential Township Phase 6B in New Chandigarh, valid until Dec 1, 2030
- Obtained RERA approval for METRO CITY P-8B in Lucknow, UP, with validity until Oct 9, 2027
- Official launch date for both residential plotted projects is set for March 23, 2026
- Approvals enable the company to commence advertising, sales, and unit transfers immediately
- Projects target both domestic and international markets, enhancing potential sales reach
Omaxe Limited's wholly-owned subsidiary, Omaxe Garv Buildtech Private Limited, has secured RERA registration for its residential plot project 'METRO CITY P-2 A' located in Lucknow, Uttar Pradesh. The registration (UPRERAPRJ222879/03/2026) is valid until October 9, 2027, and allows the company to officially commence sales, marketing, and advertising activities. This regulatory milestone is essential for project execution and revenue generation, with the official launch scheduled for March 21, 2026. The project targets both domestic and international markets, which is expected to positively impact the company's consolidated financial performance.
- Wholly-owned subsidiary Omaxe Garv Buildtech received UP RERA registration for the 'METRO CITY P-2 A' project.
- The project is a residential plot development situated in Sarojini Nagar, Lucknow.
- RERA registration is valid until October 9, 2027, ensuring legal compliance for sales and transfers.
- The project launch is officially scheduled for March 21, 2026.
- Approval enables the company to target both domestic and international buyer segments.
Omaxe Limited's wholly-owned subsidiary, Omaxe Garv Buildtech Private Limited, has successfully obtained RERA registration for its residential plot project, 'METRO CITY P-2 A', located in Lucknow, Uttar Pradesh. The project is scheduled for an official launch on March 21, 2026, and the registration is valid until October 9, 2027. This regulatory milestone allows the company to commence marketing and sales activities for both domestic and international buyers. The project is expected to positively impact the company's consolidated financial performance and strengthen its brand presence in the Lucknow real estate market.
- Wholly-owned subsidiary Omaxe Garv Buildtech received RERA registration (UPRERAPRJ222879/03/2026) for the Lucknow project.
- The project 'METRO CITY P-2 A' is a residential plot development scheduled for launch on March 21, 2026.
- The RERA approval is valid through October 9, 2027, providing a clear regulatory window for sales and execution.
- The project targets a broad market including both domestic and international investors.
Omaxe Limited's subsidiaries have received RERA registration certificates for two significant projects: 'Omaxe World Mall' in Faridabad and 'The Retreat' in Amritsar. Both projects are scheduled for launch on March 17, 2026, and cater to both domestic and international markets. These approvals are critical as they legally permit the company to advertise, sell, and transfer units, which is expected to positively impact the company's consolidated financial performance. The Faridabad license is valid until November 2030, while the Amritsar license extends until December 2031.
- Received RERA registration for 'Omaxe World Mall' in Faridabad, valid until November 11, 2030
- Obtained RERA approval for 'The Retreat' in Amritsar, valid until December 01, 2031
- Both commercial projects are officially set for launch on March 17, 2026
- Approvals enable the company to commence sales and marketing activities, unlocking revenue potential
Omaxe Limited's subsidiaries have received RERA registration certificates for two significant projects: 'Omaxe World Mall' in Faridabad and 'The Retreat' in Amritsar. These approvals, valid until 2030 and 2031 respectively, legally empower the company to commence sales, marketing, and unit transfers. This development is expected to strengthen the company's brand value and positively impact its consolidated financial performance. The projects target both domestic and international markets, marking a key milestone in the company's growth trajectory.
- Received RERA registration for 'Omaxe World Mall' in Faridabad, with validity until November 11, 2030.
- Obtained RERA approval for 'The Retreat' in Amritsar, valid until December 1, 2031.
- Approvals allow the company to officially launch, advertise, and sell units in these projects.
- Projects are managed through wholly-owned and step-down subsidiaries, including Omaxe World Street Pvt Ltd and Dinkar Realcon Pvt Ltd.
- The registrations ensure regulatory compliance and enhance buyer trust through guaranteed transparency and legal protection.
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.
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.