Omaxe Q4 Results: Firm posts loss of Rs 162 crore; income rises

New Delhi: Limited has reported a Rs 161.61 crore loss in FY22 against Rs 235.21 crore in the previous year, even though its consolidated income from operations grew to Rs 637.94 crore in FY 2021-22 as compared to Rs 514.59 crore in FY 2020-21.

In Q4 FY 2021-22, the consolidated income from operations stood at Rs 172.86 crore compared to Rs 191.87 crore in Q4 FY 2020-21.

The company during the 12 months, sold 1.58 mn sq ft valued at Rs 1,266 crore against 2.73 mn sq ft valued at Rs 2,051 crore in the same period last year. Major sales are in New Chandigarh, Lucknow, Faridabad, New Delhi, and Ludhiana.

The company has delivered 3.10 mn sq ft in FY22 against 2.71 mn sq. ft in FY21. Major deliveries are in New Chandigarh, Lucknow, Indore, and Faridabad.

“The real estate sector has shown a strong recovery in FY2021-22. The overall economic growth and infrastructure development in Tier 2/3 cities is being reflected in the property sales,” said Atul Banshal, Director-Finance, Omaxe Limited.

“We expect this growth momentum to attain a higher trajectory going forward on account of strong homebuyers’ sentiments. Property seekers have responded positively to our residential and commercial offerings and we will continue to launch more projects that cater to their needs. We also expect strong delivery in FY22-23, which will contribute to higher sales & profitability,” Banshal added.

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