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Abhijit Diwan:
Thank you Ali. I will now hand over the call to Mr. Mohit Goel
for a brief commentary on the quarter gone by.
Mohit Goel:
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Sayan Das Sharma: If you see YoY there is a decline, while in the first two
quarters the bookings momentum was quite healthy this
quarter it seems a little down. So just want to understand the
reason for the same.
Management:
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See let me just give you a figure, Lucknow has huge supply but
if you compare like Lucknow and Chandigarh where we are
present it is not as bad as Delhi NCR but definitely there is a
supply but as I have always been saying in all the calls it
doesnt matter because till the time you are number one over
there your product will get absorbed more than anywhere else.
So going forward I think next 6 to 12 months Delhi NCR and all
the markets I am hoping that it is going to go up, so the
oversupply which is present in the cities will also get absorbed
and we will see better rate of realization coming to us and
better absorption in terms of volumes also.
Moderator:
We will take the next question from the line of Ashok Jain from
JM Financial.
Ashok Jain:
Management:
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have given delivery can sell 10-20% higher than the market
rate. In terms of pricing I see 5-10% upside and in terms of
volume I don't see any problem for the company like Omaxe
who has delivered majorly in the cities.
Moderator:
We will take the next question from the line of Ashok Shah from
LFC Securities.
Ashok Shah:
Management:
In the last nine months our cost of capital has gone down. Our
weighted average cost is about 15.2% to 15.7% in the last
quarter.
Ashok Shah:
Management:
Ashok Shah:
Management:
No.
Moderator:
We will take the next question from the line of Rahul Jain from
Systematix Shares.
Rahul Jain:
Management:
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In that case can you share with me what is the cash collected
in this nine months versus last nine months?
Management:
Cash collection for the current quarter is 325 crores and for the
nine months it is 1026 crores.
Rahul Jain:
Management:
Rahul Jain:
Management:
Rahul Jain:
Management:
All included.
Management:
Rahul Jain:
Management:
Rahul Jain:
Management:
131 crores.
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Rahul Jain:
You said that some of the inventory you are keeping so that you
could get a better realization at a later stage. So can you give
me the break of the 100% of your project how you try to sell
over life-cycle of your project?
Management:
Rahul Jain:
Management:
Rahul Jain:
Management:
Rahul Jain:
Management:
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Rahul Jain:
Management:
Rahul Jain:
Management:
Rahul Jain:
Management:
Rahul Jain:
Management:
Yes.
Rahul Jain:
Management:
No.
Rahul Jain:
Management:
Rahul Jain:
Management:
Yes but we are still left with around 250 crores inventory in
OCP.
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Rahul Jain:
Management:
Rahul Jain:
Management:
Rahul Jain:
Management:
Moderator:
We will take the next question from the line of Saif Shaikh from
Maple Investments.
Saif Shaikh:
When I was looking at your cash flow your cash flow is showing
negative but at the same time in the nine months you have
given a dividend, so may I know what is the reason for this?
Management:
Saif Shaikh:
Management:
Saif Shaikh:
On the gross debt side currently you have 1270 crores of gross
debt so what is your outlook on this? Are planning to reduce
this going ahead or are you comfortable with this?
Management:
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Saif Shaikh:
Management:
Saif Shaikh:
Management:
Saif Shaikh:
What kind of sales growth you expect in the next 2-3 years?
Management:
Around 10-15%.
Moderator:
Abhijit Diwan:
Thank you all for joining us this afternoon. If you have any
further queries you can drop in an email or call me up. My
email address is abhijitdiwan@omaxe.com. The investor
presentation and the press release are also put up at our
website www.omaxe.com and also on the stock exchange
websites at BSE and NSE. Thank you again for joining us.
Moderator:
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