The real estate arm of the Max Group, Max Estates announced its Q2 & H1 FY24 results. The Company has overwhelmed on achieving historical milestone in the timeline. It has achieved the conclusion of the reverse merger of Max Ventures and Industries Limited (MVIL) into Max Estates Limited (MEL). This entails that Max Ventures and Industries Limited will be incorporated and all the assets & liabilities of MVIL will endow with MEL.
The current listed establishment, named Max Estates Limited truly reflects their vision, the nature of the business and aspirations to scale the Real Estate (RE) footprint in Delhi-NCR. Max Square on Noida Expressway and Max House – Phase II in South Delhi - With the successful launch of Estate 128 in Q2 FY 24, Max Estates’ first luxury residential development in Delhi NCR with Booking Value worth Rs. 1800 Crore already locked in and sales collections of Rs. 330 Cr, Also the firm has also witnessed an extreme positive-traction for commercial office leasing for both of the newly launched.
NDTV leased 1,28,000 square feet at Max Square in Noida. This is a clearly represents the Noida Expressway and particularly Max Square is booming as innovative centre for corporate office beyond a back-office hub.
Along with this, Max Square, within 6-9 months of receiving its completion, and has transacted (LOI Included) 50 percent of the office space including 100 percent of the retail/Food &Beverages is committed. The office space will also be housing leading manage office player, Skootr who has leased 103,000 square feet of super built-up area as well as several other leading Multi-National Companies and domestic companies.
At the same time, the company has pre-leased 54 percent of the office space, even before receiving completion at Max House Okhla, – Phase II, which is expected in Q3 FY 24.The activity of NDTV choosing and pre-leasing traction of Max House Okhla, Phase II are clearly an demonstration of ‘flight to quality’, a phenomenon that got accumulated post COVID with centre on experience, well-being and sustainability in an office space ecosystem.
Max Estates Limited
Max Estates Limited is the real estate arm of the Max Group was established in 2016. Its motto is to bring the Max Group’s values of Excellence, Credibility and Sevabhav to the real estate sector of India. Its marquee projects include a one-of-its-kind commercial office space Max Towers, on the edge of South Delhi that inaugurated in 2019, Max House - a re-development of luxury residential villa community 222 Rajpur and office campus on Rajpur Road, Dehradun. It aims to generate, build and operate Grade A+ office spaces in Delhi-NCR. Max Estates Limited has joined into a partnership with New York Life Insurance Company (NYL) for its new commercial projects in Delhi-NCR. It named as Max Square, Max Square Two and project located on Golf Course Extension Road, Gurugram. The Company has also forayed into the residential segment with its first project, Estate 128, being developed in Noida and second project to be launched in first-half of upcoming year in Gurugram. Also Max Estates has a real estate services & management company called Max Asset Services. Max Estate Limited is listed on National Stock exchange (NSE) and Bombay Stock Exchange (BSE).
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