Omaxe net profit up 4.67% at `19.03 crore1 min read . Updated: 07 Aug 2013, 06:55 PM IST
Revenue rose 8.1% to `405.37 crore
Mumbai: Delhi-based real estate company Omaxe Ltd on Wednesday said its net profit increased by 4.67% to ₹ 19.03 crore in the June quarter, boosted by sales in small cities and towns.
Revenue rose 8.1% to ₹ 405.37 crore.
“Sales have been good despite the challenging economic scenario. The continued trust of our customers in tier II and III cities, where we have a vast presence, has helped us remain steady," said chairman and managing director Rohtas Goel. “We will continue to focus on at these locations as an alternative to National Capital Region."
The company delivered 2.67 million sq. ft of space during the June quarter across projects in tier-II cities Bhatinda, Noida, Bahadurgarh, Indore, Lucknow and Bhiwadi.
In July, the company invested ₹ 200 crore to build a five-star hotel at its integrated township Omaxe New Chandigarh. The 150-room “Holiday Inn" will be managed by one of world’s largest hotel companies The InterContinental Hotel Group.
Shares of Omaxe rose 1.06% to ₹ 138.60 on BSE on Wednesday, while the exchange’s benchmark Sensex shed 0.36% to 18,664.88 points.