Omaxe acquires 75% equity shares in Hartal Builders and Developers
NEW DELHI: Omaxe has entered into an agreement to acquire 37,50,000 equity shares of Hartal Builders and Developers i.e. 75% equity shares for Rs 3.93 crore, the company said in its BSE filing.
The acquisition will be completed by August 16. “It will help the company to develop a residential project in Faridabad,” the regulatory filing further read.
Hartal Builders had a turnover of Rs 2,20,757 in FY19.
The company’s net income stood at Rs 358.56 crore in the quarter ended June 30, 2019. Its net income was Rs 182.48 crore in the similar quarter last year.
Omaxe’s net profit stood at Rs 14.91 crore in the said quarter, a growth of 72 per cent from Rs 8.65 crore it recorded in the corresponding quarter previous fiscal.
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