Reviewing its budget allocation for FY09, real estate major Omaxe has outlined its new budget account for the next financial calendar. The developer currently has a media outlay of around Rs 80 crore and plans to enhance the cap by nearly Rs 20 crore to touch Rs 100 crore, which it plans to flow into print and electronic campaigns.
Omaxe has announced its plans to appoint only totally integrated agencies enabling it to avail 360-degree services. “We will have a single agency to handle both creative and media. Retainer fees for creative services make the agencies complacent,” a senior official of the company said.
“We would, however, continue to motivate the agency in delivering us the best creative and reward them for their integrated services,” the official added.
Omaxe is present in 31 cities across 10 states of India. The company is executing 54 residential and commercial projects, comprising 23 group housing projects, 16 integrated townships, 14 shopping malls, commercial complexes and hotels.
Omaxe got listed on the BSE and NSE in July 2007 and was oversubscribed by more than 68 times. Buoyed by this success, the company plans to capitalise on its brand image.