Page 2 - Omaxe
Omaxe sells commercial, housing properties worth Rs 2,051 cr last fiscal
Realty firm Omaxe has sold properties worth Rs 2,051 crore in 2020-21, up 18 per cent from the previous fiscal, mainly on the back of better demand for its commercial projects in the national capital and Chandigarh. Omaxe is developing a multi-level parking cum commercial project Omaxe Chowk at Chandni Chowk in the national capital. "Our sales bookings in value terms increased to Rs 2,051 crore during the last fiscal from Rs 1,738.75 core in 2019-20 financial year," Omaxe Ltd Vice President (Business Development & Corporate Strategy) Rajan Gupta told PTI. Out of the total sales bookings, about 70 per cent contribution came from commercial projects in Delhi and new Chandigarh. The remaining sales came from housing projects at Ludhiana, Lucknow and New Chandigarh, he said. In volume terms, however, sales fell to 2.73 million sq ft from 4.99 million sq ft. Omaxe delivered only 2.71 million sq ft across various projects in FY21 as against 6.51 million sq ft in the previous fiscal ...
 "Omaxe sells commercial, housing properties worth Rs 2,051 cr last fiscal")
NCLT agrees to hear plea alleging mismanagement in real estate firm Omaxe
The National Company Law Tribunal (NCLT) has agreed to hear a petition filed against Omaxe Ltd alleging oppression and mismanagement in the affairs of the Delhi-based real estate firm. Terming the matter as "exceptional" and having "compelling circumstances" against the realty firm, a two-member Chandigarh-based NCLT bench has granted the waiver in the filing criteria under Section 244 of the Companies Act, over the plea filed by the Omaxe former joint managing director Sunil Goel and his wife. The tribunal observed that the applicants including Sunil Goel are the shareholders, promoters and were directors of Omaxe Ltd and also have considerable shareholding and interest in its holding company Guild Builders. Moreover, none of the members of Omaxe is eligible to file an application under Section 241 of the Companies Act, 2013 against the company over the allegations of oppression against minority shareholders. While granting the waiver, NCLT observed that individually, the petition
 "NCLT agrees to hear plea alleging mismanagement in real estate firm Omaxe")
Omaxe hits 11-year low despite clarification, tanks 66% in 12 days
The stock was locked in lower circuit for 12th straight trading day
 "Omaxe hits 11-year low despite clarification, tanks 66% in 12 days")
Omaxe freezes at 20% lower circuit for second straight day, hits 52-wk low
The company has deferred its Q4 results by one month to July 29, 2020.
 "Omaxe freezes at 20% lower circuit for second straight day, hits 52-wk low")
PNB Housing Finance clarifies rumours about Omaxe group loan exposure
Besides, the company sanctioned Rs 200 crore for Project Grand Omaxe Lucknow in January 2018.
 "PNB Housing Finance clarifies rumours about Omaxe group loan exposure")
Omaxe gets nod to raise Rs 500 cr, dividend for public shareholders
The company said the real estate sector is passing through challenging times
 "Omaxe gets nod to raise Rs 500 cr, dividend for public shareholders")
Omaxe Q4 net profit falls 10%; plans to raise Rs 500 crore via debentures
Total income also fell to Rs 307.59 crore during January-March period of 2018-19 financial year
 "Omaxe Q4 net profit falls 10%; plans to raise Rs 500 crore via debentures")
Will not pledge Omaxe shares except in exigencies: Guild Builders to NCLT
Guild Builders, which held 62.57 per cent stake in Omaxe as on September 30, 2018, also requested the tribunal to dismiss the petition
Omaxe Q1 net rises over two-fold at Rs 45.45 crore
The company is developing 39 real estate projects - 13 group housing, 16 townships and 10 commercial
 "Omaxe Q1 net rises over two-fold at Rs 45.45 crore")
