Omaxe, realty developer, has announced that the Hyderabad Urban Development Authority (HUDA) has accepted the bid of its wholly owned subsidiary, Eden Buildcon Pvt Ltd for 25 acres of land situated at Kokapet Area in Hyderabad.

The project is expected to cost between Rs 1,600 crore and Rs 1800 crore, a statement said.

An official release stated that the Project is for multipurpose use like Commercial / IT Park / Shopping Mall / Residential etc. and the approximate project value is in the range of Rs 1600 Crores to 1800 crores.

Omaxe presently holds market cap worth Rs. 9448 crore, PE Ratio of 55.21; EPS of 9.86 and BV of 20.73. The firm had posted a net profit of Rs 117 crore for the quarter ended September 2007.