Omaxe Stock Price Up by More Than 11% Today After Company Buys 260 Acres of Land in Amritsar
By Ankur Chandra | Published at: Jun 16, 2025 03:48 PM IST
New Delhi, June 16, 2025: Omaxe Limited (BSE: 532880, NSE: OMAXE), has announced a significant expansion in Punjab with the launch of its integrated township project, New Amritsar. This ambitious undertaking will see an initial investment exceeding ₹1,000 crore in the first phase alone, reinforcing Omaxe’s long-term commitment to urban infrastructure and real estate development in the region.
The direct effect of this announcement was seen in its share price. At around 3:20 P.M., Omaxe shares were up by more than 11%, at Rs 106.74.
The New Amritsar township is strategically located on the GT Road, just 12 minutes from the iconic Golden Temple. Omaxe has acquired a total of 260 acres for this expansive project. In the first phase, the company plans to develop 127 acres, offering residential plots of 300, 500, and 1,000 square yards. The first phase is expected to be completed in approximately four years.
The project has already secured its RERA registration and all necessary approvals. This initial investment is being funded through internal accruals, with the project having achieved financial closure, supported by positive market response and sanctions from financial institutions. Omaxe may explore additional funding options for subsequent phases as requirements evolve.
Phase 1 Project Details
| Feature | Specification |
|---|---|
| Total land acquired | 260 acres |
| Phase 1 development area | 127 acres |
| Phase 1 investment | ₹1,000+ crore |
| Residential plot sizes | 300, 500, and 1000 sq. yards |
| Amenities | Clubhouse, school, commercial spaces, 24×7 security |
| Internal funding used | Yes (financial closure achieved) |
| Estimated completion (Phase 1) | ~4 years |
| RERA & regulatory approvals | Obtained |
Strategic Connectivity and Infrastructure
The township will directly benefit from ongoing and future infrastructure upgrades:
- Delhi-Amritsar-Katra Expressway: 99 km Nakodar-Amritsar branch to be operational by 2026.
- Amritsar Ring Road: 98 km greenfield highway encircling the city, currently under construction.
- Elevated Road Corridor: 4.5 km stretch connecting the city centre with future extensions to nearby universities.
- Airport Expansion: Sri Guru Ram Das Ji International Airport is undergoing a ₹300 crore upgrade to double its capacity.
What Did The Management Say?
“Omaxe’s New Amritsar township is a natural extension of our vision to create modern urban ecosystems that serve current and future needs,” the company stated in its press release. “We aim to replicate the success seen in our 1,000+ acre Tricity project and reaffirm our commitment to Punjab’s urban growth.”
Master Plan Vision
The project will be developed in a phased manner with scope for future expansion. The master plan emphasises sustainability and quality of living:
- Wide internal roads and landscaped greens
- Dedicated walking and cycling tracks
- Uninterrupted utilities (water, electricity)
- High-end security infrastructure
- Integrated commercial zones and educational facilities
What’s Ahead For Omaxe?
With the New Amritsar township, Omaxe is tapping into Punjab’s urbanisation wave and infrastructure push. Successful execution could significantly boost its revenue visibility and brand in North India. As more infrastructure around Amritsar comes online, the project’s value may appreciate, attracting both end-users and investors.
About the Company
Founded in 1987 by Mr. Rohtas Goel, Omaxe Limited entered the real estate sector in 2001 and has since become a key player in North and Central India. The company got listed in 2007 and currently operates across 31 cities in 8 states. With over 135 million square feet delivered, Omaxe has developed a range of projects, from luxury to affordable residential, commercial, and township developments.
This investment marks a transformative chapter in Amritsar’s real estate trajectory and is poised to make New Amritsar a flagship destination for both homebuyers and investors.
REF: https://nsearchives.nseindia.com/corporate/OMAXE_16062025114454_AmritsarPressRelease16062025_sd.pdf
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