Omaxe Ltd., a leading real estate and construction contracting company, announced a significant transition in its leadership as Rohtas Goel, the Founder Chairman, relinquished his role as Executive Director and decided to continue in the capacity of a non-executive director and Chairman. In a strategic move, Goel has handed over the reins of the business to his two sons, Mohit Goel and Jatin Goel, who will assume joint leadership roles within the Company.
With this change, Omaxe is poised to enter a new era with the new generation assuming prominent positions. Under the leadership of Mr Mohit Goel, Managing Director, and Mr Jatin Goel, Executive Director of the Company, will focus on two key areas: reducing debt and exploring additional growth opportunities through public-private partnerships.
"I am proud to witness the evolution of Omaxe and see my sons take the helm. This transition marks a turning point in the Company's history, where Omaxe will embark on new avenues of growth and continue to make significant contributions to the real estate industry," Rohtas Goel, Chairman and Non-Executive Director, commented on the transition.
"Our primary focus will be to reduce debt and strengthen the Company's financial position. We are also excited about exploring public-private partnerships to drive growth and create value for our stakeholders. Omaxe is committed to delivering exceptional real estate projects that exceed our customers' expectations," Mohit Goel, Managing Director, said while commenting on the future direction of Omaxe.
Echoing his brother's sentiments, Jatin Goel added, "We are determined to build on the strong foundation laid by our father and take Omaxe to new heights. With our combined expertise and fresh energy, we aim to enhance the Company's reputation and deliver outstanding projects that contribute to the development of communities."
Omaxe is currently involved in two public-private partnership projects in the national capital, Chandni Chowk and Dwarka. The Company has applied for the occupancy certificate for its retail project, Omaxe Chowk, at Chandni Chowk. It expects it to be operational by the end of this year. Additionally, Omaxe anticipates commencing the construction of the Dwarka project around Dussehra/Diwali.
Omaxe has a successful track record of delivering over 132 million sq. ft. of realty space. It has delivered 21 Group Housing real estate projects, 10 Integrated Townships, and 14 Commercial Malls/office spaces/Hotels/SCOs. The Group has another 22 million sq. ft. of space under construction. This includes 7 ongoing Integrated Townships, 5 Group Housing projects and 7 commercial malls/office spaces/Hotels/SCOs. Omaxe is committed to providing superior-quality construction, customer satisfaction, and value creation for its stakeholders. Omaxe Group began its journey in 1987 when Rohtas Goel laid the foundation to undertake Construction and Contracting business.
