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Omaxe records 88% increase in net profit at Rs 388.41cr

This article was posted on Feb 1, 2008 and is filed under Press Releases

Omaxe Ltd, a real estate major in the country has recorded an increase in consolidated revenues by 49.20 % at Rs 1,732.78 crore for the nine month ended December 31, 2007 from Rs 1,161.42 crore in the corresponding nine month ended December31, 2006. EBITDA stood at Rs 580.89 crore during the nine month ended registering an increase of 93.63% as compared to Rs 300.01 crore in previous period. The company has posted Net profit of Rs 387.86 crore, up by 87.96% from Rs 206.35 crore. The non annualized EPS at the end of the nine month was at Rs 23.48.

The operating margins also show an upward trend to 37.08% from 29.91% in the corresponding nine month of previous fiscal. The net margins saw an increase 22.42% as compared to 18.17 % in nine month ended December 31, 2007.

Announcing the results, Mr. Rohtas Goel, CMD, Omaxe Ltd, said, “The soaring demand in the real estate sector has helped us in attaining our targets boosting our revenues. The result showcases our improving performance over years indicating a good jump in our revenues and net profit.” He further added saying that, “the quarter has been significant for us since we have announcement a slew of our new projects along with our foray into South Indian market and also the lucrative infrastructure sector.”

Highlight of Q3 FY08

* The Company bags two mega deal in Hyderabad and Vizag for the project value of app. Rs 2000 crore and Rs 100 crores respectively.
* Sign MoU with Govt. of Rajasthan for 5000 hectare multiproduct SEZ in district Alwar.
* Acquires S N Realtors for Rs 45 crores.
* Forms JV with GVK and Nagarjuna Constuction Co. Ltd for infrastructure projects
* Announces foray into the hotel sector.

Sourced From: Adfactors Public Relations Pvt Ltd

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