Omaxe Q3 net profit up 13% at Rs 21 cr

Realty firm Omaxe today reported 13 per cent increase in its consolidated net profit to Rs 20.59 crore for the quarter ended December.
Its net profit stood at Rs 18.28 crore in the year-ago period, the company said in a statement.
Income from operations rose by 3 per cent to Rs 411 crore in the third quarter of this fiscal from Rs 399 crore in the corresponding period of the previous year.
"During the months of November and December 2016, people were facing cash crunch and it affected the entire economy including real estate sector, which remained subdued.
"However, our emphasis on affordable housing has ensured that our projects in cities like Lucknow, New Chandigarh, Faridabad, Ludhiana and Indore did relatively better as we enjoy utmost trust and confidence of customers," Omaxe CMD Rohtas Goel said.

During Q3FY17, the company booked 0.57 million sq ft of space valued at Rs 282 crore and delivered 1.03 million sq ft at
various locations.