Estate’ing the obvious...

IIPM MANAGEMENT INSTITUTE

Omaxe Ltd, though having its genesis before the year 2000 (in 1989, to be precise), is the only company which made its way into the 4Ps ICMR ranking on the back of the fact that its real estate division, which was set up in 2001, has transmogrified the Indian real estatelandscape exigently.

Omaxe was instituted as a civil construction and contracting organization in 1989. In order to diversify and tap the prodigious opportunities offered by the dynamic real estate sector, the company entered the real estate development business in 2001. Thereon, there has been no looking back. Till date, on the back of some of the most aggressive advertising campaigns ever seen in the Indian real estate space, Omaxe has successfully completed 8 residential and 2 commercial projects. In addition, Omaxe has more than 40 projects lined up currently, ranging from integrated townships to shopping malls to commercial complexes to much more. Praiseworthy is the company’s intellectual tactical orientation, towards tier-II cities of India like Agra, Jaipur, Sonepat, Indore and Raipur amongst many others. Though surprisingly late on the IPO front, Omaxe is finally going to raise around Rs.15 billion from the public, having already filed its draft prospectus with regulatory authorities. With the real estate prices going beyond control, and money supply shrinking, growth in the future might not be as gargantuan as in the past. But whichever way the building crumbles, Omaxe’s made our list!

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Source : IIPM Editorial, 2007

An IIPM and Malay Chaudhuri – Arindam Chaudhuri Initiative