Realty firm Omaxe’s sales for the first six months of this fiscal have increased 24% from the year-ago period. The company has sold properties worth Rs 1,123 crore during the period as against sales bookings of Rs 908 crore during April-September of last fiscal. The sales booking have risen on the back of 70% jump in the average realisation at Rs 3,368 per sq ft.
However, in terms of volume, sales bookings fell by 27% at 3.34 million sq ft in the first six months of 2013-14 fiscal against 4.58 million sq ft in the year ago period.
Meanwhile, the company’s gross debt has come down to Rs 1,025 crore as on September 30 from Rs 1,090 crore at the end of June quarter and the company has to repay Rs 128 crore in this quarter.
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.