Omaxe announced a ₹500-crore investment to develop Omaxe Chowk in Ludhiana, marking a significant expansion in Punjab's retail and residential infrastructure. The mixed-use project combines high-street retail with luxury residential components, targeting both local consumers and NRI shoppers in one of Punjab's most established commercial hubs.

Project Overview and Investment Details

The development spans 5.25 acres at Ghumar Mandi, one of Ludhiana's most established commercial and wedding shopping destinations. The land was secured through competitive bidding conducted by the Rail Land Development Authority (RLDA) and is being developed on a leasehold basis under a public-private partnership model.

Integrated Development Concept

Omaxe Chowk is conceived as a modern high-street destination integrating multiple commercial and residential components within a single planned development. The project will feature premium retail spaces, wedding and jewellery showrooms, fashion outlets, destination dining, entertainment facilities, and luxury residences.

"Ludhiana has always been an important market for us, driven by strong enterprise and commercial activity," said Jatin Goel, Executive Director, Omaxe Ltd. "With Omaxe Chowk, the focus is on creating a contemporary yet familiar destination that brings structure, convenience and integrated luxury living, while enabling walk-to-shop connectivity and ease of movement."

The project specifically targets both local shoppers and NRIs who frequently visit Ludhiana for wedding and occasion-led purchases, a segment that continues to drive demand for premium retail and jewellery in the city.

Infrastructure and Accessibility Features

The development addresses long-standing congestion and access challenges associated with traditional markets through comprehensive infrastructure planning. Located within Ludhiana's established commercial district, the project benefits from two-side frontage with access from Rani Jhansi Road and College Road.

Key Infrastructure Elements:

• Wide access roads with multiple organized entry and exit points
• Planned internal circulation systems
• Parking capacity for over 1,000 cars
• Wide pedestrian walkways
• Heritage-inspired architecture with modern design approach

Omaxe Chowk will host a flagship food and experience zone called Dawatpur, positioning dining and entertainment as core attractions alongside organized retail. The project aims to create a functional yet experience-led urban destination that enhances visibility and ease of access.

Economic Impact and Employment Generation

The project is expected to generate significant employment opportunities during the construction phase and create long-term jobs across multiple sectors including retail, food and beverage, security, maintenance, and facility management. By attracting brands, visitors, and events, Omaxe Chowk is also expected to boost surrounding businesses and increase footfall in the area.

The development is being executed under an agreement between RLDA and Ludhiana Wholesale Market Private Limited, a wholly owned subsidiary of Omaxe Ltd, with delivery scheduled as per RERA timelines by June 2030.

Budget Expectations for Urban Development

Sharing expectations from the upcoming Union Budget, Mohit Goel, Managing Director, Omaxe Ltd, emphasized the need for sustained urban growth momentum, particularly in Tier 2 and Tier 3 cities. "Continued emphasis on urban infrastructure, transport connectivity and housing-linked development will be critical," he said.

Goel highlighted that policy continuity, faster approvals, and support for PPP models would help improve execution efficiency. "The expectation is not for short-term stimulus, but for long-term clarity that strengthens homebuyer confidence and enables planned urban growth," he added.

Omaxe Limited's shares witnessed a remarkable surge during Tuesday's trading session, climbing nearly 14% on BSE following the company's announcement of a substantial ₹500 crore investment in a new mixed-use development project in Ludhiana.

Stock Performance and Market Response

At 12:26 p.m., Omaxe Limited shares were trading at ₹81.07 on BSE, representing an increase of approximately 12% compared to the previous closing price of ₹72.58. The company's market capitalization stood at ₹1,482.70 crores during the trading session.

Omaxe Chowk Project Details

The company announced Omaxe Chowk, a modern mixed-use high-street development positioned in Ludhiana's Ghumar Mandi area. This location represents one of the city's most established commercial and wedding shopping markets, making it strategically significant for the project's success.

The land parcel was secured through a competitive bidding process conducted by the Rail Land Development Authority (RLDA) and is being developed on a leasehold basis. The project aims to introduce scale, structure, and modern urban design to an already high-footfall market area.

Project Components and Vision

Omaxe Chowk is designed as an integrated urban destination that combines multiple elements within a single development. The project encompasses wedding shopping, jewellery, fashion, destination dining, entertainment, and luxury residences, creating a unified destination that reflects the evolution of modern urban retail.

The development is structured as a public-private partnership (PPP) and is being executed under an agreement between the Rail Land Development Authority (RLDA) and Ludhiana Wholesale Market Private Limited, a wholly owned subsidiary of Omaxe Limited.

Economic Impact and Employment Generation

The project is expected to create substantial local employment opportunities during the construction phase, followed by long-term job prospects across various sectors including retail, food and beverage, security, maintenance, and facility management. By attracting leading brands and large-scale events, the development aims to enhance footfall and support neighboring businesses in the area.

Recent Financial Performance

Despite the positive market response to the project announcement, Omaxe's recent financial results showed mixed performance. The company reported a decline in revenue from operations during Q2 FY25.

While revenue declined by more than 17% year-on-year, the company managed to narrow its net loss by approximately 31% during the same period, indicating improved cost management despite lower revenues.