Ajay Upadhyaya holds 1.37% stake: Construction company announces major expansion in Madhya Pradesh with 450-acre integrated township in Indore

DSIJ Intelligence-1 / 09 Jul 2025/ Categories: Mindshare, Trending

Ajay Upadhyaya holds 1.37% stake: Construction company announces major expansion in Madhya Pradesh with 450-acre integrated township in Indore

The stock is up by 56.7 per cent from its 52-week low of Rs 68.75 per share.

Omaxe Ltd., through its subsidiary, has announced a significant expansion in Madhya Pradesh with the acquisition of a 450-acre land parcel along the Super Corridor in Indore. This move reinforces Omaxe's commitment to India's Tier-II growth hubs, with an estimated investment of Rs 1,200 crore. The development, expected to generate Rs 2,500 crore in revenue over the next three years, will feature a modern integrated township with residential, commercial, educational, and healthcare zones.

This new township is strategically located in one of Indore’s fastest-developing areas, designed to support the region's rapid urban growth and infrastructure transformation. It will offer a well-balanced mix of residential plots and housing, commercial and retail zones, hospitality spaces, schools, healthcare facilities, parks, and integrated public amenities. The layout is planned as a self-sustained urban ecosystem with comprehensive infrastructure.

Omaxe's long-standing presence in Madhya Pradesh dates back to 2005 with Omaxe City-1 in Indore. The company has since built a strong foundation across Indore, Ujjain, and Ratlam, with a land bank of approximately 1170 acres and 15 projects already delivered in the state. This new Indore expansion further solidifies Omaxe's focus on shaping future-ready cities through planned and sustainable development.

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About the Company

Founded in 1987 by Mr. Rohtas Goel, Omaxe initially focused on construction and contracting before diversifying into real estate in 2001 and listing on BSE and NSE in 2007. Over 37 years, Omaxe has become a leading Indian real estate company with extensive land holdings, delivering over 135 million sqft across 30 cities in 8 states of North and Central India. The company boasts a diverse portfolio including integrated townships, offices, malls, high street projects, and properties in both luxury and affordable segments.

An ace investor, Ajay Upadhyaya, holds a 1.37 per cent stake in the company as of March 2025 and LIC owned a 2.29 per cent stake in the company in the same period. The stock is up by 56.7 per cent from its 52-week low of Rs 68.75 per share.

Disclaimer: The article is for informational purposes only and not investment advice.