Real estate developer Omaxe said on April 26 that it has raised Rs 440 crore from Värde Partners, a global alternative investment firm. The company will deploy the funds for expediting the construction and delivery of its projects as well as for expansion, it said.
Omaxe Group is developing integrated townships in New Chandigarh, Lucknow, Ludhiana, Indore, and Faridabad. It is also developing a multilevel parking-cum-commercial project in the PPP model with North Delhi Municipal Corporation in Chandni Chowk, Delhi scheduled for delivery in this fiscal.
The Group has so far delivered approximately 127.89 million sq. ft. (till December 2021) in real estate and construction contracting.
“Over the last three decades, Omaxe has built a reputation among homebuyers, investors, and financial institutions based on strong fundamentals and financial discipline, quality construction, consistent delivery, and a healthy return on investment.