Omaxe to reconstruct multi-level car parking in Delhi, share surges

The company has executed a Concession Agreement with North Delhi Municipal Corporation (North DMC) for the redevelopment of multi-level car parking at Gandhi Maidan in Delhi. This development has pushed the share price of the company up by 2 per cent.
 

The project includes construction of around 10,65,966 square feet in an area of 4.6 acres of land and the construction time given is 3 years. The lease period is for 99 years.

Omaxe Limited is a real estate developer and has delivered more than 100 million sq. ft. of developed space including apartments, commercial units and apartments.

On Thursday, the stock hit an intraday high at Rs. 227.45 per share and intraday low of Rs. 223.60. The 52-week high of the company was Rs. 235.40 and 52-week low was at Rs. 192.90 per share on the BSE. At 12:11 hours, the stock was quoting at Rs. 226.60 per share, up by 2.26 per cent. While the benchmark indices, Nifty50 was trading at 11,075, up by 1.15 per cent and BSE Sensex was trading at 36,690.39 up by 1.17 per cent.