Omaxe Limited announces Q3FY15 Results

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Delhi based real estate company Omaxe Limited announced its result on Jaunary 29. For the quarter ended December 31, 2014 consolidated income from operations stood at Rs 307.71 crore as compared to Rs 342.04 crore for the quarter ended December 31, 2013.

Net Profit for the quarter however dropped to Rs 13.92 crore as compared Rs 16.25 crore posted in the quarter ended December 31, 2013.

During the period new launches by the company included Group Housing projects at Omaxe Heights, Gomti Nagar Extn and Independent Floors at Royal Street, Ludhiana (0.25 mn sq.ft).

“Fresh bookings have slowed with 1.18 mn sq. ft. of booking during the quarter. Sales have not been on expected lines primarily due to a dull festive season on account of challenging economic scenario. Despite the formation of a stable Government and various reforms announced, demand remained subdued. The New Chandigarh market and the Lucknow market, however, performed extremely well and have been receptive to our product offerings. Delivery and construction in Greater Noida, Faridabad, Lucknow, Bahadurgarh amongst others remain our priority” said Rohtas Goel, CMD, Omaxe Limited.