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Realty firm Omaxe Ltd on Friday reported a consolidated loss of Rs 71.77 crore for the quarter ended in December 2023. Its loss stood at Rs 109.11 crore in the year-ago period.
The Omaxe board also approved re-appointment of Mohit Goel as Managing Director of the company for a period of five years with effect from April 1, 2024 to March 31, 2029 subject to the approval of shareholders.
Omaxe has secured new financial assistance totalling Rs 450 crore from Kotak Mahindra Bank Limited and out of this amount, Rs 290 crore has been utilized to repay the facility initially obtained from Varde Partners and the remaining Rs 160 crore will be allocated for development of its projects.