Delhi-based real estate developer, Omaxe Group, has unveiled ambitious expansion plans. The group is set to invest ₹10,000 crore over the next 2 to 3 years in North India. In an exclusive interview with CNBC TV18, Omaxe Group MD Mohit Goel detailed the expansion strategy, which includes investments in various projects across Delhi, Faridabad, Uttar Pradesh, Haryana, and Punjab.
Mohit Goel stated that the group will allocate ₹10,000 crore over the next 2 to 3 years, with ₹2,500 crore earmarked for Delhi and ₹2,200 crore for Faridabad. Additionally, ₹1,000 crore will be invested in Chandigarh and ₹2,500 crore in Uttar Pradesh. There are also plans for investments in Ludhiana and Madhya Pradesh. Goel emphasized that the funding will come from internal sources, without raising external capital.
Goel mentioned that some of the projects are already in the pipeline, and the group expects to generate an income of ₹12,000 to ₹15,000 crore from these investments. The company aims for an annual revenue growth of 25 to 30 percent. As several projects reach completion, the impact on profits is anticipated to be significant, improving profitability in the coming years.
For the current financial year, Omaxe Group has set an investment target of approximately ₹2,500 crore in residential projects and ₹1,000 crore in commercial projects. The company has shifted its business strategy to focus more on commercial assets. Goel explained that this strategic shift is in response to market trends, with the current portfolio comprising 30 percent residential and 70 percent commercial projects.