Realty firm Omaxe Ltd has announced that its Founder Chairman Rohtas Goyal has resigned as Executive Director as part of a leadership change. He will continue as non-executive director and chairman.
“Founder Chairman Rohtas Goel has relinquished his role as executive director and has decided to continue as a non-executive director and chairman,” the company said in a statement.
According to the statement, the company has appointed Mohit Goyal as the new Managing Director and Jatin Goyal as the Executive Director.
Under the new leadership, the Delhi-NCR-based real estate developer said it would focus on reducing debt and exploring additional growth opportunities through public-private partnerships (PPP).
“This transformation marks a turning point. Omaxe will open new avenues of growth and will continue to make a significant contribution to the real estate industry,” Rohtas Goyal said in a statement.
Mohit said the primary focus would be to reduce debt and strengthen the financial position of the company. “We are also excited about exploring public-private partnerships to drive growth and create value for our stakeholders,” he added.
Omaxe has provided over 132 million sq ft of real estate space. It has delivered 21 group housing real estate projects, 10 integrated townships and 14 commercial malls/office spaces/hotels/SCOs.
The group has 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 Group started its journey in 1987 when Rohtas Goyal laid the foundation to start construction and contracting business.
Shares of Omaxe closed in the green at Rs 49.65 on Friday. The market valuation of the company is Rs 908 crore, as per BSE data.