Omaxe Limited — Board Meeting, 28-05-2025: Outcome of Board Meeting

Omaxe Limited has announced a board meeting outcome with key updates. The company approved the financial results for the quarter and financial year, reporting consolidated revenue of Rs 1,636.97 Cr but a consolidated net loss of Rs 685.40 Cr for the year. No dividend was declared on 0.1% preference shares due to losses. S.K. Bhatt & Associates were appointed as Cost Auditors for FY2025-26, and Mr. Gurnam Singh joined as an Additional Independent Director for three years. The company is moving ahead with the sale of its subsidiary Landlord Developers Pvt Ltd. A Rs 28.55 Cr impairment was recognized on 60 acres of Patiala land deemed non-viable. Management sees no liability on a disputed Rs 53 Cr revenue, currently under court appeal.