Omaxe sales drops 43% to Rs 946 crore in last fiscal

07 Jun 2017

Omaxe’s sales bookings dropped 43% and stood at Rs 946 crore in the last fiscal compared to Rs 1,648 crore in the previous year on account of lower volume as well as sales realization. The company sold 3.2 million square feet in the 2016-17 fiscal, down 35% from 4.89 million square feet in the previous year. The average sales realization declined by 12 per cent to Rs 2,956 per square feet from Rs 3,372 per square feet during the period under review.

The sales bookings in the housing segment fell sharply to Rs 407 crore in the last fiscal from Rs 1,264 crore in the previous year. However, the sales bookings in the commercial segment rose to Rs 539 crore from Rs 384 crore. The company has delivered 5 million square feet area in the last fiscal.

Omaxe is engaged in real estate activities. The company is engaged in the business of providing infrastructure facilities, which include housing and real estate development.

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