Omaxe Limited was formerly incorporated as Omaxe Construction Private Limited, as a Private Limited Company on 8th March 1989. The Company was promoted by Rohtas Goel, the founder, to undertake construction & contracting business. The name of the Company then was changed to Omaxe Construction Limited and it became a Public Limited Company in 1999. Subsequently, the Company changed its name from Omaxe Construction Limited to Omaxe Limited on June 6, 2006.
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, lower income group and NRIs. This has enabled Omaxe to understand the market dynamics much better and remain competitive, thus maintaining a healthy topline and bottom line.
The Company became the first construction company of northern India to receive an ISO 9001:2000 certification. 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 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 18,43,25,280.40 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 35,00,00,000 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, 25,00,00,000 (NCCPS) of face value of Rs.10/- at par aggregating Rs. 2,50,00,00,000/-. 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., 11,66,32,697 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. 3,000 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. 6,800 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 16,480 million at an average realization of Rs 3,372 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 12,640 million and Rs 3,840 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 9,460 million at an average realization of Rs 2,956 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 4,070 million and Rs 5,390 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. 12,280 million at an average realization of Rs. 2,464 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. 9,180 million and Rs. 3,100 million from commercial. During the year, 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).
During FY 2018-19, Omaxe sold 3.55 million square feet of space worth Rs 872 crore. Major locations that contributed to new bookings in the reported financial year, both in residential and commercial segment, were New Chandigarh, Lucknow and Faridabad.
During the year under review, one Wholly Owned Subsidiary of Omaxe Limited was incorporated on April 16, 2018 i.e., Omaxe New Faridabad Developers Private Limited.
The company delivered 5.86 million sq. ft area and booked 3.55 million sq. ft area during 2018-19. However, there were a small number of new projects launched. New launches were spread across 6 cities, 13 projects and a total development potential of 3.7 million square feet. Residential projects accounted for 60% of the total area under development in the new projects with Commercial accounting for the rest. From the total sale, the share of new launches was 1.33 million sq. ft amounting to Rs. 448 crore.
During FY19, New Chandigarh had the highest share of new launches with 2.1 million sq. ft of total launch and sale of 0.54 million sq. ft. New Chandigarh was followed by Lucknow, which saw a launch of residential project of an area of 1.31 million sq. ft and sale of 0.59 million sq. ft. Other major residential launch was in Allahabad, with a total saleable area of 0.18 million sq. ft and where 0.14 million sq. ft of area was sold. Other launches included commercial in Faridabad (area sold 0.04 million sq. ft), residential plots in Vrindavan (area sold 0.06 million sq. ft) and commercial in Rohtak (area sold 0.008 million sq. ft).
The Company made another trend in Commercial Redevelopment Project by launching the project, ' Omaxe Chowk' in Delhi in 2019.
The Company launched The Legends, Lucknow, India Trade Tower, Omaxe New Chandigarh, The Resorts, Omaxe New Chandigarh, The World Plaza, Omaxe New Chandigarh in 2020.
In 2022, the Company launched co-retail spaces in its multi-level parking-cum-commercial project in Chandni Chowk.
In 2022-23, the Company added residential project in Ratlam in Madhya Pradesh. New projects were brought to the cities where the Company already had presence following the Gardenia Boutique Homes residential project in New Chandigarh, Omaxe Royal Signature in Ludhiana, The Resort in Lucknow and Barcelona Street falling into the commercial category in Faridabad.
