Omaxe, JV partner Azorim amicably resolve dispute New Delhi, July 24, 2012: All disputes between Omaxe Ltd. and its JV partner M/s Azorim International Holdings Limited have been resolved amicably and both the parties have agreed to scale up the development of the Project of the JV Company (Omaxe Azorim Pvt. Ltd.) named as "The Forest", comprising "Forest SPA" and "Hills- II" situated at Suraj Kund Road, Faridabad, Haryana. Further, the parties had jointly filed application before Hon'ble Company Law Board, Delhi Bench, for recording of the settlement and for disposing off the petition. At the hearing held today, the Hon'ble Company Law Board has disposed off the said petitions as the matters being amicably settled and thereby making the petitions infructuous.

Omaxe is committed to early completion of the said projects. We are thankful to our JV partner and the Hon'ble Company Law Board for speedy resolution of the said matter.

About Omaxe Ltd.:

Omaxe Limited has emerged as a diversified Infrastructure conglomerate with presence in Real Estate and Infrastructure Development. With presence in 12 States across 39 cities in India, the company is currently working on 42 real estate projects - 17 Integrated Townships including 2 Hi-Tech Townships, 16 Group Housing projects, 7 Shopping Malls & Commercial Complexes, and 2 Hotel projects. There are 10 ongoing projects in the infrastructure segment that comprises EPC Contracts, Roads & Bridges construction having book value of Rs. 1018 crore. As on date, the Company has delivered approx. 74.60 mn sq. ft. of area including 31.80 mn sq. ft. in infrastructure development and 42.80 mn sq. ft. in the real estate vertical.

For any queries: Mr. Siddharth Shekhar / Samar Jeet

Corporate Communications, Omaxe Ltd

09999999938/ 09711800867 siddharthshekhar@omaxe.com/ Samarjeet1@omaxe.com

Forward Looking Statements

Certain statements in this announcement are or may be forward looking statements. Forward looking statements involve risks and uncertainties that could significantly affect expected results and are based on certain key assumptions. Many factors could cause actual results to differ materially from those projected or implied in any forward looking statements. Due to such uncertainties and risks, readers are cautioned not to place undue reliance on such forward looking statements, which speak only as of the date hereof. Omaxe expressly disclaim any obligation to update any forward looking or other statements contained herein, except as required by applicable.

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