Shares of pan-India real estate developer Omaxe soared by over 4% in a weak market on January 27, on the back of the launch of a new branding to undertake collaborative property projects that promise Rs 5,000 crore of revenue potential.
Omaxe said ongoing projects that will be undertaken under 'BeTogether' would entail a total investment of over Rs 2,800 crore over 3-5 years with a potential of generating revenue over Rs 5,000 crore.
The initiative will eye Joint Ventures, collaboration and development through Public-Private Partnerships (PPP) in spaces where infrastructure gaps exist, and can potentially drive socio-economic growth. The realtor said 'BeTogether' will lead the urban real estate 'into a new era'.
Omaxe has listed out key projects, which include a JV initiative 'BeTogether Centre Point Vrindavan', to modernize the city. The company is also partnering with the Uttar Pradesh State Road Transport Corporation (UPSRTC) on several Public-Private Partnership (PPP) projects to upgrade bus terminals in Lucknow, Ghaziabad, Kaushambi, Ayodhya, Amausi, and Prayagraj.
Omaxe added that it aims to 'extend' modern infrastructure and amenities to Tier 2 and Tier 3 cities. The company also plans to take up stalled or underutilized projects to ensure timely completion and delivery.
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