This Leading Real Estate Company Board of the Company Acquires Iconic Delhi One Project With Rs 2,000 Crore Potential After NCLT Nod
The company has a market capitalisation of Rs 6,702 crore and has delivered a 1-year return of 43.11 per cent.
Max Estates Limited has acquired the Delhi One project in Noida and this is a major achievement for the company. The project that has been idle for seven years is situated at the border of South Delhi and is expected to help Max Estates become one of the top premium real estate developers in NCR. The development will include ultra-luxury serviced residences, premium office spaces, curated retail, and an exclusive club of 2.5 million square feet. The project is projected to create sales revenue of over Rs 2,000 crore and rental income of over Rs 120 crore.
The NCLT and NCLAT in February 2023 and October 2024 respectively granted the final approvals to Max Estates. Sahil Vachani, the Vice Chairman and Managing Director of Max Estates, was pleased to announce that Max Estates had taken over Delhi One. We are confident that we shall offer a great real estate experience to the residents and office workers of the NCR. The project will use green building technologies and energy management systems, which are in line with the company’s mission of improving health through real estate.
Max Estates Limited, the real estate development company of Max Group, is a well-known developer in the Delhi-NCR region. The company has split off from Max Ventures and Industries with a focus on real estate development only. New York Life has invested approximately Rs 8 billion in the business as the strategic partner of Max Estates.
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Max Estates recently introduced its initial luxury residential project in NCR which garnered pre-formal launch sales of more than Rs 1,800 crores and collected around Rs 330 crores in Q2FY24. The company also has a real estate services and management subsidiary known as Max Asset Services and premium commercial and residential spaces. The company has its mission to improve the standard of living through the environments it develops and utilizes its experience in high end real estate development.\
The stock price of Max Estates Limited is Rs 416.3. The stock has a 52-week high of Rs 686.05 and a 52-week low of Rs 290.5. The company has a market capitalisation of Rs 6,702 crore and has delivered a 1-year return of 43.11 per cent. It trades at a price-earnings (PE) ratio of 870.15. Among public shareholders, Atul Behari Lall holds a significant stake of 1.60 per cent.
Disclaimer: The article is for informational purposes only and not investment advice.