Omaxe launches ₹1,000 cr township project in Amritsar, enhances expansion in Punjab
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Listed real estate company Omaxe Ltd has launched a new integrated township, New Amritsar Township, through its subsidiaries, with an investment of ₹1,000 crore. Located on GT Road, about 12 minutes from the Golden Temple, the township spans 260 acres. In the first phase, 127 acres will be developed.
The RERA-registered project marks a key step in Omaxe’s Punjab expansion. The company already has a presence in six cities: New Chandigarh, Ludhiana, Patiala, Derabassi, Amritsar, and Bathinda. “We’ve shown our capability by developing a 1,000+ acre township in the Tricity region. With New Amritsar, we aim to build a self-sustained ecosystem with a better quality of life,” said Mohit Goel, MD, Omaxe Ltd.
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Omaxe sees New Amritsar as a key urban development for residents and investors in Punjab. The company says the New Amritsar Township could benefit from major upcoming infrastructure projects. These include: 99 km Nakodar-Amritsar branch of the Delhi-Amritsar-Katra Expressway (by 2026); 98 km Amritsar Ring Road (under construction); 4.5 km elevated corridor linking central Amritsar to the township; and ₹300 crore expansion of Sri Guru Ram Das Ji International Airport.
The project is RERA-registered and has all necessary approvals. The first phase offers residential plots of 300, 500, and 1,000 sq. yards. The master plan also includes commercial areas, a school, clubhouse, and community facilities. Phase 1 is expected to be completed in about four years, funded through internal accruals. The project has achieved financial closure and may consider more funding as needed.
Omaxe has established a footprint across 31 cities in 8 states of North and Central India, and has delivered over 135 million sq ft of area. Omaxe's revenue grew 1.95% to ₹553.03 crore YoY in the Jan-March (Q4 2024-2025) quarter, while there was an 84.1% jump on a QoQ basis. However, the company recorded a 2.25% YoY loss of ₹148.32 crore in the said quarter, it surged 1.51% on QoQ basis.
The Omaxe Ltd share closed 12.78% today to ₹107.57 on the NSE, with its one-month gain at 33.13%.
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