Omaxe has reduced its debt by nearly 42% in FY14 compared to the 2009-10 levels. The company’s gross debt which stood at Rs 1,814 crore in FY10 reduced to Rs 1,049 crore in FY14. The company has been able to achieve this feet on back of continuous construction, delivery and new launches. The increased cash flow was also on the account of the right product mix that caters to the demand of specific cities, propelling the company’s desirability among end-users.
The company has seen its debt-equity ratio coming down in the last 5 years by close to 60% from 1.15 in FY10 to 0.48 in FY14. The networth of the company grew by 38% from 2009-10 level of Rs 1,582 crore to Rs 2,179 crore as on March 31, 2014.
Omaxe is one of India’s leading real estate development companies. Founded in 1987, the company has fast spread its footprints in 9 states across 30 cities.