Omaxe Group reveals an ambitious sports infrastructure project in Delhi. Omaxe Group is all set to break into the Indian sporting arena by announcing a landmark project in Delhi. Under a Public-Private Partnership model with the Delhi Development Authority, this will now change the way sports and recreation are viewed in the Capital.
Omaxe State: A Dream in Integrated Development
Omaxe Group is developing Omaxe State, a significant new project with an investment of over ₹2,500 crore. It will be the first place in India to offer five experiences: sports facilities, shopping areas, and hotels. It will also feature restaurants and cultural events. This will make it a lively spot for people to come together, relax, and have fun. Omaxe State aims to bring a fresh experience of recreation and entertainment to the region.
Outdoor/ Indoor Sporting Infrastructure
The crowning glory of Omaxe State will be a state-of-the-art International Cricket-cum-Football stadium meeting the standards of ICC and FIFA respectively, with seating capacity for over 30,000 sittings. A multi-sports indoor stadium for 2,000 spectators will also come up. Managing Director Mohit Goel said the key to the success of this ambitious project was the partnership with well-known architects along with international firms.
Apart from these sports infrastructures, Omaxe Group maintains a judiciously balanced investment portfolio. Goel said the company would be investing about ₹2,500 crore in residential projects and ₹1,000 crore in commercial projects. The portfolio of Omaxe today constitutes 30 percent residential and 70 percent commercial, though Goel is gunning for a more balanced 50:50 in the years to come.
Strong Financial Outlook
With a ₹9,000 crore order book, Omaxe Group targets ₹5,000 crore in sales this year from its commercial segment. The company is currently at a debt level of ₹462 crore, and Goel said he was confident of maintaining this level to reach net debt-free status by the end of the financial year. Expect the top and bottom lines to grow by 25-30% each year with the completion of projects.
Overview
Omaxe Group’s entry into sports infrastructure is set to mark a major milestone in urban India’s growth. Omaxe State, unlike a sport-infused destination, would offer its residents and visitors a bouquet of experiences. The Omaxe Group, with strong financial backing and vision, is leading the growth in the sports and recreation sector.