Omaxe Q1 net jumps 39% to Rs 22 crore

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Real estate developer Omaxe reported a 38.70 per cent jump in its net profit to Rs 21.72 crore for the quarter ended June 30, 2010.

The company had reported a net profit of Rs 15.66 crore in the corresponding period of the last fiscal, Omaxe said in a statement.

The net sales during the first quarter increased by over twofold to Rs 252.93 crore, compared to Rs 118.91 crore in the year-ago period, it added.

“I am pleased to inform that all our new launches have received significant response from the market and the result of the same shall be visible in our future profits,” Omaxe Chairman and managing director Rohtas Goel said.

He, however, said the company’s margins were under pressure as the firm is “purely into affordable housing with average realisation being in the range of Rs 1,400–1,500 per sq ft”.

Paras Buildtech unveils Paras Seasons in Noida

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After the successful launch of ‘Paras Tierea’, Paras Buildtech India has unveiled its new project named Paras Seasons, an affordable premium housing project in sector 168, Noida. Based on country’s four seasons, the project would have four key towers named Autumn Court (G+14), Winter Court (G+16), Summer Court (G+14) and Spring Court (G+16). One of the major attractions of Paras Seasons is fully furnished 1 BHK ‘loft duplex units’, which will have an area of 650 square feet.

Available at a price range starting from Rs 16 lakh, the project will have 900 residential units including 1 (duplex) 2, 3 and 4 BHK option variants in sizes ranging from 650 sq ft to 2,100 sq ft. As Paras Tierea has a beautiful concept of ‘sky garden’, Paras Seasons would also set new standards with ‘Sky Bridge’ in luxury and style. The project is being created in a green landscape amidst natural, undulating terrain and water bodies.

Speaking on the occasion, Harmit Chawla, VP – sales & marketing, Paras Buildtech India Pvt Ltd, said: “As a part of our continuing efforts in creating value for customers in today’s challenging environment, we have kept in mind the feedback from our old and prospective customers to make this new venture unique in many respects. The meticulous designing and unmatchable features keeps Paras Seasons a step towards realising a vision of achieving a leadership position through excellence in design, quality and service. The project is destined to change the way of life in Noida and create benchmarks in National Capital Region.”

All lifestyle amenities like club house that includes jogging track, amphitheatre, yoga pavilion, children play area, swimming pool, squash courts, shuttle courts, billiards, restaurant, beauty salon, commercial centre and lots more will be spread across the project giving a new meaning to life, which will make the project an integrated self contained development.