Omaxe has sold properties worth Rs 436 crore during April-June quarter of this fiscal. This is a drop of 16% compared to the sales booking achieved at around Rs 522 crore in the first quarter of last fiscal. In terms of area the realty firm has sold 2.01 million square feet in the first quarter of 2012-13 fiscal as against 2.62 million square feet in the corresponding period of previous year.
On the other hand compared to an average sales realization of Rs 1,996 a square feet in the first quarter of last fiscal, the realization has improved to Rs 2,167 per square feet during April-June quarter of this fiscal. The states of Haryana, Punjab and Uttar Pradesh were the major contributors in the sales bookings.
Besides, the gross debt of the company stood at Rs 1,295 crore as on June 30, 2012 against Rs 1,340 crore at the beginning of this fiscal, a decline by Rs 45 crore. The realty firm needs to repay Rs 377 crore by end of current fiscal.
Omaxe is currently developing 16 housing, 19 townships, and nine commercial projects. Apart from this it is also undertaking 10 contractual projects for other parties. The company has reported a decline of 9.24% in its consolidated net profit for the quarter ended June 30 at Rs 18.18 crore as against Rs 20.03 crore in the same quarter last year. The consolidated total income from operations during the first quarter, however, went up by 11.22% to Rs 368.30 crore from Rs 331.15 crore in the year-ago period.