Omaxe share price jumps over 13% amid ₹1,000 crore expansion plan; check all details

Omaxe will invest more than ₹1,000 crore to develop a township in Amritsar, Punjab, through its subsidiaries, increasing its presence in the state.

The company has acquired 260 acres of land for this township, and in the first phase, it is developing 127 acres. With this new project, Omaxe said it is reaffirming its long-term commitment to the region’s real estate development and urban infrastructure growth.

The initial investment is being funded through internal accruals.

Following this, shares of the real estate firm were trading 7.96% higher at ₹102.97 apiece on the National Stock Exchange.

Omaxe already has an established presence across six cities in the state – New Chandigarh, Ludhiana, Patiala, Derabassi, Amritsar, and Bathinda.

The project has already secured RERA registration and necessary approvals. In the first phase, Omaxe is offering residential plots of 300, 500, and 1,000 square yards.

The project will be developed in phases, with the first phase expected to be completed in about four years.

“The initial investment is being funded through internal accruals. With strong market feedback and sanctions received from financial institutions, the project has achieved its financial closure,” Omaxe said in a statement to the exchanges.

Delhi-based Omaxe is one of the leading real estate developers in the country.

In the last 38 years, Omaxe has established a strong footprint in 31 cities in 8 states of North and Central India and has delivered more than 135 million square feet of area. The company has developed residential, commercial and integrated township projects.

During the 2024-25 fiscal year, Omaxe posted a consolidated net loss of ₹685.40 crore, while a net loss of ₹405.91 crore was in the preceding year. Its total income remained flat at ₹1,636.97 crore last fiscal from ₹1,634.88 crore in 2023-24.