New Delhi, Omaxe Limited, a premier real estate development company in India today reported net sales of Rs. 378.20 crore for the quarter ended March 31st 2010 as compared to Rs. 280.20 crore posted in the quarter ended December 31st 2009, registered a growth of 35%.

Net Profit for the quarter stood at Rs. 45.12 crore, increased by 59% as compared to

Rs. 28.46 crore posted in the quarter ended December 31st 2009. Earnings per share (EPS) for the quarter stood at Rs. 2.60 as compared to Rs. 1.64 in the quarter ended December 31st 2009.

Net sales for the year ended March 31st, 2010 stood at Rs. 1,001.22 crore as compared to Rs. 798.79 crore posted in the corresponding period of last fiscal. PAT for the year ended March 31st, 2010 increased by 140.80% to Rs. 112.54 crore as compared to Rs. 46.72 crore posted in the corresponding period of last fiscal. EPS for the full year stood at Rs. 6.48 as compared to Rs. 2.69 posted in the corresponding period of last fiscal.

The operating margin for the year ended March 31st, 2010 stood at 27.42% as compared to 29.96% in the corresponding period of last fiscal.

Commenting on the results, Mr. Rohtas Goel Chairman & Managing Director, Omaxe Limited said, FY 10 has been comparatively much better from FY 09 for various reasons. The sales have improved considerably and especially the Tier II and III cities have made major contributions. Though there has been slight stress on Operating margins but that is largely because of restructuring of product portfolio in line with market sentiments.

Major Developments:

    1. The company laid the foundation of Omaxe Waterfront Hi Tech City, the first Hi-Tech Township at Allahabad spread over an area of 1,535 acres (Approx). Omaxe, through an SPV has signed a developer agreement for this Hi-tech city with Allahabad Development Authority. The First phase of the project is expected to generate revenue of more than Rs 5,000 Crores and will be executed in phases over a period of around 5-7 years
    2. Launched Omaxe Heights, a group housing project in Faridabad, Haryana. The project consists of 104 units in 4 BHK with a saleable area of approx 2, 60,000 Sq Ft and launched at a sale price of Rs. 1,950 per sq.ft. The project is expected to generate revenue of approx. Rs. 55 crore and ready for occupancy in the next two and half years
    3. Launched plots in Omaxe Chandigarh Extn., Mullanpur with a saleable area of approx. 1.08 mn sq.ft. with a BSP of Rs. 1,500 per sq.ft.. The project is expected to generate revenue of approx Rs. 175 crore and expected to be delivered in the next one and half years
    4. Launched G+3 floors in Chandigarh Extn. with a saleable area of approx. 4,07,000 sq.ft. The floors range in the area of 1,150 sq.ft. to 1,500 sq.ft at a price of Rs. 25 - 35 lakhs. The project is expected to generate revenue of approx. Rs. 100 crore and to be delivered in the next 2 years

Notes to Editor

About Omaxe Ltd.

Omaxe Ltd. is a premier real estate development company in India. Within a short span of time it has completed and delivered 17 projects consisting of 9 group housing, 2 townships and 6 commercial projects comprising an area of 10.68 mn. sq.ft. The company currently has 53 projects under development consisting of 21 group housing projects, 21 integrated townships including a Hi-Tech township, 9 shopping malls & commercial complexes and 2 hotel projects. The company has land bank of 4,500 acres (approx.) comprising 164 mn. sq.ft. of Saleable area across 30 cities of 9 states in India. Presently it is focusing on the construction of approx 114 mn. sq.ft. of area out of which 50 mn. sq.ft. has been sold.

The Company re-entered into Construction business through a 100% subsidiary company Omaxe Infrastructure & Construction Ltd. in 2009. As on 31st March 2010 it has an order book of Rs. 760 crore (approx.) spread over 7 infra and contracting projects.