Max Estates Limited has received NCLAT approval for its ‘Delhi One’ project in Noida’s Sector 16B, the company announced today. The mixed-use development project spans 34,697 square meters with 2.5 million square feet of development potential and an estimated Gross Development Value of over ₹1,500 crores.
The shares of Max Estates Limited were trading at ₹586 up by ₹37.70 or 6.88 per cent on the NSE today at 10.57 am.
The real estate arm of Max Group also reported that its Estate 360 project in Gurugram achieved pre-sales bookings of ₹4,100 crore, with 85 per cent of units sold within 30 days of launch. Following this success, the company has revised its FY25 booking value guidance to ₹4,800-5,200 crores, up from the earlier projection of ₹4,000 crores.
- Also read: Max Group’s Antara to manage senior living at Estate 360, eyes ₹140 crore revenue; stock soars
The company has secured 7 million square feet of development opportunities worth approximately ₹11,300 crores in the first half of the current financial year. This includes a Joint Development Agreement for residential development on 18.23 acres in Gurugram and a fourth tower at Estate 128.
On the commercial front, Max Estates reported 100 per cent occupancy at Max House – Phase 2 in Delhi and 93 per cent occupancy at Max Square in Noida. The company has also built a corpus of ₹1,300 crore through QIP, convertible warrants, and a strategic investment from New York Life Insurance.