Omaxe Q2 sales booking up 3% at Rs 472 crore

NEW DELHI: Realty firm Omaxe sold properties worth Rs 472 crore during the second quarter of this fiscal, marginally higher than the year-ago period.

The company sold 2.56 million sq ft during July-September quarter for Rs 472 crore. In the corresponding period last year, it had sold 2.25 million sq ft area for Rs 458 crore, according to presentation by investors.

In the first half of this fiscal, however, Omaxe's sales booking fell in both volume and value terms. During April- September period of the 2012-13 fiscal, the company sold 4.58 million sq ft for Rs 908 crore. In the corresponding period year ago, it had sold 4.87 million sq ft for Rs 976 crore.

On debt, the company told investors that the gross debt has come down marginally to Rs 1,014 crore as on September 30 from Rs 1,047 crore at the end of the first quarter.

Earlier this month, Omaxe reported 16 per cent decline in its net profit at Rs 22.98 crore for the quarter ended September 30 against Rs 27.31 crore in the year-ago period.

The income from operation, however, rose marginally to Rs 461.64 crore during the July-September quarter from Rs 457.96 crore in the corresponding period of previous fiscal.

Omaxe is currently developing 16 group housing projects, 19 townships, 9 commercial projects and 10 infrastructure/EPC contracts. The company has presence in Punjab, Haryana and Uttar Oradesh.