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Omaxe reports net loss of Rs 44.43 crore in Q1 FY22, Real Estate News, ET RealEstate

Omaxe reports net loss of Rs 44.43 crore in Q1 FY22, Real Estate News, ET RealEstate
NEW DELHI: Realty firm Omaxe Ltd on Friday reported a consolidated net loss of Rs 44.43 crore for the quarter ended June. Its net loss stood at Rs 63.93 crore in the year-ago period.

The consolidated income from operations of Rs 89.48 crore for the quarter ended June 30, 2021, as compared to Rs 53.85 crore in the corresponding period of the previous year, Omaxe said in a statement.

Rajan Gupta, Vice President (Business Development & Corporate Strategy), Omaxe Limited said, “Despite several challenges in the first quarter of fiscal 2021-22, just like FY 2020-21, the company has maintained its stakeholders’ outreach through the digital infrastructure built over the years and more so during the last year.”

The company was able to tap into the demand from reverse migrants in cities like Lucknow, New Chandigarh, Indore, and Ludhiana, he added.

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