Omaxe Q1 net sees a rise of 40 per cent

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OmaxeDelhi-based real estate firm Omaxe Limited on Thursday reported consolidated income from operations of Rs 334.41 crore for the quarter ended June 30 as compared to the corresponding quarter last year, witnessing a rise of 1 per cent.

According to a press release issued by the company, the consolidated net profit for the quarter stood at Rs 16.83 crore, a rise of 40 per cent as compared to Rs 12.03 crore posted in the quarter ended June 30 last year.

The company during the quarter sold 1.54 million sq. ft valued at Rs 658 crore as against 0.62 million sq. ft valued at Rs 200 crore sold in the same quarter last year. The major contributors were group housing projects at The Lake, New Chandigarh and Grand Omaxe, Lucknow.

Omaxe also delivered 1.25 million sq. ft of spaces in Q1FY16. The major deliveries were at Bahadurgarh (0.30 mnsq.ft), Faridabad (0.31 mnsq.ft) and Lucknow (0.36 mnsq.ft) vis-à-vis 1.0 mnsq.ft delivered in Q1FY15.