Top Indian real estate major Omaxe Ltd has made foray into infrastructure segment.

Omaxe Infrastructure and Construction Ltd (OICL), the company's wholly owned arm, has bagged the initial deal to build up Highway and 3 high level bridges in the state of Punjab.

The deal, which is valued at Rs 704 million, has been awarded by Greater Mohali Area Development Authority (GMADA).

Mr. Rohtas Goel, CMD, Omaxe Group, said. "This is our first venture in Highway construction and we are determined to provide superior quality development and maintain consistency in our work."

Omaxe Infrastructure and Construction Ltd will construct 200ft wide road form Mullanpur/UT boundary upto T junction of Kurali-Siswan road at SAS Nagar, Mohali, Punjab.

Morover, the company declared that its wholly owned arm, Omaxe Infrastructure and Construction has pocketed a deal for building residential accommodation at MHOW, Indore (MP).

The deal awarded by DGMAP, Kashmir House, Rajaji Marg, New Delhi is valued at Rs 2.03 billion.

The reports said that the said deal is likely to be finished within a period of 25 months.

At 2:13 p. m., the stock of the company gained 2.4% to trade at Rs 144.70 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 144.25 and a low of Rs 88.10 on BSE.

Current EPS & P/E ratio stood at 5.67 and 25.50 respectively.