Omaxe Invests Rs 1000 Cr in Amritsar Township

New Delhi, Jun 16 (PTI) Realty firm Omaxe Ltd will invest more than Rs 1,000 crore to develop a township in Amritsar, Punjab, as part of its expansion plan.

In a regulatory filing, the company said it has launched an integrated township — 'New Amritsar'.

"Omaxe has acquired 260 acres of land for this township, and in the first phase, it is developing 127 acres with an investment of over Rs 1,000 crore," it added.

The initial investment is being funded through internal accruals.

Omaxe already has an established presence across six cities in the state -- New Chandigarh, Ludhiana, Patiala, Derabassi, Amritsar, and Bathinda.

The project has already secured RERA registration and necessary approvals. In the first phase, Omaxe is offering residential plots of 300, 500, and 1,000 square yards.

The project will be developed in phases, with the first phase expected to be completed in about four years.

Delhi-based Omaxe is one of the leading real estate developers in the country.

In the last 38 years, Omaxe has established a strong footprint in 31 cities in 8 states of North and Central India and has delivered more than 135 million square feet of area. The company has developed residential, commercial and integrated township projects.

During the 2024-25 fiscal, Omaxe posted a consolidated net loss of Rs 685.40 crore while a net loss of Rs 405.91 crore in the preceding year. Its total income remained flat at Rs 1,636.97 crore last fiscal from Rs 1,634.88 crore in the 2023-24.