Omaxe soars after bagging bus terminal modernization contract from UPSRTC

Omaxe jumped 9.68% to Rs 86.79 after the company announced that the UPSRTC has awarded a contract to modernize six key bus terminals in the state under PPP model to BeTogether.

BeTogether is a wholly owned subsidiary of Omaxe. It aims to reshape the urban and economic development in India through strategic collaborations and public-private partnerships (PPP).

The six key bus terminals for which the Uttar Pradesh State Road Transport Corporation (UPSRTC) has awarded the modernization contract are Ghaziabad, Lucknow (Gomti Nagar), Prayagraj, Kaushambi, Ayodhya and Lucknow (Amausi).

The modernization project aims to enhance public transport infrastructure in Uttar Pradesh while integrating state-of-the-art commercial spaces.

With a total investment of around Rs 2700 crore, the project is expected to generate over Rs 4,700 crore in revenue. The total saleable area across the projects is 45.59 lakh square feet and the combined built-up area for the six projects stands at 70.80 lakh square feet.

Omaxe is a real estate development company. It has delivered approximately 135.84 million square feet of real estate across 31 cities in 8 states, i.e., Punjab, Haryana, Uttar Pradesh, Madhya Pradesh, Rajasthan, Delhi, Uttarakhand, and Himachal Pradesh. Its diverse portfolio spans residential, commercial, and integrated township projects.

The company had reported a net loss of Rs 150.59 crore in the quarter ended December 2024 as against net loss of Rs 66.89 crore during the previous quarter ended December 2023. Revenue declined by 51.78% to Rs 288.94 crore in Q3 FY25 as compared with Q3 FY24.

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