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Omaxe Ltd.

BSE: 532880 Sector: Infrastructure
NSE: OMAXE ISIN Code: INE800H01010
BSE 11:50 | 14 Oct 189.65 0.40
(0.21%)
OPEN

190.75

HIGH

190.75

LOW

189.35

NSE 11:38 | 14 Oct 189.55 0.30
(0.16%)
OPEN

189.60

HIGH

190.90

LOW

189.25

OPEN 190.75
PREVIOUS CLOSE 189.25
VOLUME 15971
52-Week high 222.00
52-Week low 185.40
P/E 132.62
Mkt Cap.(Rs cr) 3,469
Buy Price 189.50
Buy Qty 46.00
Sell Price 189.75
Sell Qty 71.00
OPEN 190.75
CLOSE 189.25
VOLUME 15971
52-Week high 222.00
52-Week low 185.40
P/E 132.62
Mkt Cap.(Rs cr) 3,469
Buy Price 189.50
Buy Qty 46.00
Sell Price 189.75
Sell Qty 71.00

Omaxe Ltd. (OMAXE) - Company History

Omaxe Limited (Omaxe) is mainly into the business of developing real estate properties for residential commercial and retail purposes. Omaxe has diversified its presence across 8 states and 27 cities including Delhi NCR Haryana Madhya Pradesh Punjab Rajasthan and Uttar Pradesh among others. The company caters to the needs of a large section of homebuyers including High Networth Individuals (HNIs) middle-income group and even lower income group. This has enabled Omaxe to understand the market dynamics much better and remain competitive thus maintaining a healthy topline and bottom line. As on 31 March 2018 Omaxe has delivered 79 million square feet in real estate and 31.8 million square feet in construction contracting. As of 31 March 2018 the area under development in real estate stands at 60 million square feet spanning across 19 projects. Omaxe Limited (Omaxe) began its life as Omaxe Builders Private Limited on 8th March 1989 promoted by Rohtas Goel the founder to undertake construction & contracting business. The Company became the first construction company of northern India to receive an ISO 9001:2000 certification. The name of the company was changed to Omaxe Construction Private Limited in the year 1997. The Company further changed its constitution to a limited company known as Omaxe Construction Ltd in the year1999. During the same year Omaxe awarded the achiever of the Millennium Award by All India Achievers Conference and Pride of the Country Award by the Society of Industry and Business Achievements. The Company entered the Real Estate Development business in 2001 and in now amongst the large Real Estate Development companies in India. Omaxe was coveted by the way of launch of first integrated township NRI City in Greater Noida in the year 2003. After a year in 2004 the company had first theme mall in India and the forest luxury apartments. In the year 2006 the company had received an ISO 9001:2000 rating which was given by Det Norske Veritas in relation to Real Estate Development & Construction of Housing Complexes Shopping Malls Utilities and Other Infrastructure Projects. The name of the company had changed to the present one as Omaxe Limited with effect from 6th June 2006. In the identical year of 2006 Omaxe was honored with 5A2 rating by D & B Rating for financial Strength and the composite appraisal of the company. Omaxe had entered into Joint Venture (JV) with Azorim International Holdings Ltd ('Azorim') for the construction and development of residential project 'the Forest' in November of the year 2006. A Consortium Agreement / Memorandum of Agreement was signed by the company with Vishal Retail Ltd in August of the year 2007 for filing tender documents for 'Commercial Development at Chawri Bazar' invited by Delhi Metro Rail Corporation Ltd. In August of the same year 2007 the company bagged 12 years contract from Delhi Metro Rail Corporation Ltd (DMRC) for commercial development of Chawri Bazar Metro Station worth of Rs 184325280.40 considering 20% increase on compounding basis after competition of every three years. A Memorandum of Understanding (MoU) was signed by the company and State of Rajasthan for facilitating the setting up of 'Multi Product Special Economic Zone' at District Alwar Rajasthan in November of the year 2007. In February 2008 Omaxe had emerged as the highest bidder and won the bid from Naya Raipur Development Authority Chhattisgarh for Development of Theme Township with 18 Hole Golf Course on over 400 acres at Naya Raipur Capital City of Chhattisgarh with a project value of Rs 1200 Crores. The Company had promoted a wholly owned subsidiary with the name Rohtas Holdings (Gulf) Ltd at Dubai U.A.E. in June of the year 2008 by way of acquisition / joint venture through a Special Purpose Vehicle by the name Golden Crescent RED & General Trading Ltd for development of a Residential Project in Dubai with a project value of Rs 1350 Crores. In October of the same year 2008 Omaxe has purchased the entire 10000 equity shares of M/s. Golden Peak Township Pvt. Ltd and thus M/s. Golden Peak Township Pvt. Ltd has become a wholly owned subsidiary of the company.The members of the Company had consented vide Special Resolution passed through Postal Ballot on 6 January 2014 for issuance and allotment up to 350000000 0.1% Non-Cumulative Redeemable Non-Convertible Preference Shares of face value of Rs. 10/- each (NCCPS) at par or at premium or at such price or prices to promoter thereof in one or more tranches. Accordingly Guild Builders Pvt. Ltd. (a Promoter Company) had applied and alloted on 15 February 2014 250000000 (NCCPS) of face value of Rs.10/- at par aggregating Rs. 2500000000/-. The NCCPS inter alia shall carry a coupon of 0.1% per annum redeemable 20 years from the date of allotment. The NCCPS shall carry a redemption premium of 6% per annum pro rata to the holding period with a put and call option after 10 years from the date of allotment.The Promoter (Transferor Companies) of the Company i.e. Constellation Capital Ltd. Kautilya Monetary Services Pvt. Ltd. SA Finvest Ltd. Naj Builders Pvt. Ltd J B Realcon Pvt. Ltd and Green Tech Towers Builders Pvt. Ltd. had Merged/ Amalgamated into another Promoter (Transferee Company) i.e. Guild Builders Pvt. Ltd vide Merger/Amalgamation order of the Hon'ble High Court of Punjab and Haryana dated 20th September 2013. Further all the asset and liabilities of transferor Companies as on appointed date (i.e. 1st January 2013) shall vest in the hands of Transferee Company. Post merger the investment held by Guild Builders Pvt. Ltd. in Omaxe Limited is increased to 63.76% (i.e. 116632697 shares) thereby becoming the Holding Company of Omaxe.The Registered Office of the Company was shifted from Omaxe House 7 Local Shopping Centre Kalkaji New Delhi-110019 to Shop No-19-B First Floor Omaxe Celebration Mall Sohna Road Gurgaon Haryana-122001 in FY 2014.During FY 2014 Omaxe launched 18 new projects spread across 22.76 lacs sq.ft of area of which around 74% area measuring 16.79 lacs sq. ft was sold for Rs. 576 cr. Of the total new launches residential launches were 68% and the rest was commercial launches being 32% out of the total area. Omaxe launched its residential project of Low Rise Floors at Bahadurgarh a Group Housing project spread across 4.66 lacs sq. ft. of area. The project received great response and was completely sold with average realization of Rs. 3000 per sq. ft. Apart from this the company launched 3.63 lacs sq.ft of Low Rise Floors in Royal Residency Ludhiana where 1.81 lacs sq. ft. of area has been booked. Apart from this various other projects were launched at Bhiwadi Vrindavan and Greater Noida. In the commercial segment Omaxe launched 1.94 lacs sq.ft area of service suites at New Chandigarh out of which the company booked 1.79 lacs sq.ft at a higher average realization of Rs. 6800 per sq. ft. The company launched commercial projects at Bahadurgarh Ludhiana Bhiwadi and Greater Noida.During FY 2015 Omaxe launched new project in 9 cities across 4 States. These projects were so vastly different from each other that they had the potential to cater to every income group in that particular city and consequently the company sold a total area of 2.49 million sq. ft. amounting for Rs. 10320 million from the new launches. Of the total new launches residential launches were 88% and the rest was commercial launches being 12% out of the total area launched. Out of total sales of 4.29 million sq. ft. amounting to Rs. 14910 Mio at an average realization of Rs. 3477/- per sq. ft. residential amounted to over 90% at 3.49 million sq. ft. and commercial at 0.80 million sq. ft. The Company launched group housing and floors in Omaxe New Chandigarh and sold an area of 0.94 million sq. ft. This was followed by commercial built up and group housing in Lucknow and sold an area of 0.70 million sq. ft. Faridabad also saw the launch of commercial built up and group housing and sold 0.24 million sq. ft. Other launches include group housing in Noida and Greater Noida (area sold = 0.21 million sq. ft.) group housing and plots in Vrindavan (area sold = 0.16 million sq. ft.) plots and commercial built up in Indore (area sold= 0.12 million sq. ft.) floors in Ludhiana (area sold = 0.08 million sq. ft.) and commercial built up in Sonepat (area sold=0.04 million sq. ft.).During FY 2015-16 Omaxe launched new projects in 8 cities spread across 4 states. Of the new launches residential accounted for 97% and the balance 3% are commercial launches. Of the total sales of 4.89 million sq. ft. during FY16 amounting to Rs 16480 million at an average realization of Rs 3372 per sq. ft. the residential sales accounted for 3.74 million sq. ft. and the balance is commercial at 1.15 million sq. ft. The total realization from residential sales stood at Rs 12640 million and Rs 3840 million from commercial. During the year the Company launched floors in New Chandigarh and sold an area of 0.49 million sq. ft. This is followed by launch of group housing in Lucknow comprising of an area of 1.32 million sq. ft. Allahabad also witnessed the launch of group housing and sold an area of 0.53 million sq. ft. Other launches included group housing in Ludhiana (area sold 0.16 million sq. ft.) and plots in Bhatinda (area sold 0.08 million sq. ft.).During FY 2016-17 the company launched new projects in 4 cities spread across 3 states which caters to the need of various section of the society. Of the new launches residential accounted for 83% and the balance 17% are commercial launches as per sold value. Of the total sales of 3.2 million sq. ft. during FY 2017 amounting to Rs 9460 million at an average realization of Rs 2956 per sq. ft. the residential sales accounted for 1.84 million sq. ft. and the balance is commercial at 1.36 million sq. ft. The total realization from residential sales stood at Rs 4070 million and Rs 5390 million from commercial. During the FY 2017 the company launched Group Housing in New Chandigarh and sold an area of 0.521 million sq. ft. This was followed by launch of Group housing in Lucknow comprising of an area of 0.311 million sq. ft. Other launches included launch of commercial at Bahadurgarh and Ludhiana respectively with a total area sold at 0.139 million sq. ft.The Company acquired NRI City Developers Private Limited as a Wholly Owned Subsidiary of Omaxe Chandigarh Extension Developers Private Limited a wholly owned subsidiary of Omaxe Limited on 15 June 2017.During FY 2017-18 Omaxe launched new projects in 6 cities spread across 4 states. Of the new launches residential accounted for 97 per cent and the balance 3 per cent are commercial launches in respect of area. Of the total sales of 4.98 million square feet during FY18 amounting to Rs. 12280 million at an average realization of Rs. 2464 per square feet the residential sales accounted for 4.07 million square feet and the balance is commercial at 0.91 million square feet. The total realization from residential sales stood at Rs. 9180 million and Rs. 3100 million from commercial. During the year the Company launched 2.70 million square feet and sold an area of 1.89 million square feet out of which 1.13 million square feet plots were launched in Lucknow and sold the whole area. Derabassi also witnessed the launch of group housing comprising of an area of 0.32 million square feet and sold an area of 0.14 million square feet. Other launches included commercial in Faridabad (area sold 0.07 million square feet) Affordable Group Housing in Vrindavan (area sold 0.15 million square feet) and in Indore (area sold 0.06 million square feet).