Omaxe has acquired 450 acres of land in Indore, Madhya Pradesh, to develop an integrated township, marking a significant expansion of its operations in Tier-II cities. The project will entail an investment of Rs 12 billion and is expected to be executed in phases.

According to a regulatory filing, the development will comprise residential plots, housing clusters, commercial and retail zones, hospitality infrastructure, educational institutions, and healthcare facilities. The company anticipates generating revenue of Rs 25 billion from the township over the next three years. The investment will be funded through internal accruals.

Omaxe, which entered the Madhya Pradesh market in 2005, has completed 15 projects in the state. The company currently holds a land bank of approximately 1,170 acres across Indore, Ujjain, and Ratlam, where it has developed or is developing township projects.

Operating across 30 cities in eight states across North and Central India, Omaxe has delivered over 135 million sq ft of real estate space since its inception.