Max Estate Noida/Gurgaon: Bold Expansion Plans with Rs 800 Crore QIP

Max Estates is set to make a significant leap in the real estate market by utilizing Rs 800 crore raised through a qualified institutional placement (QIP). The funds will facilitate the acquisition of prime land in Noida and Gurgaon, earmarked for the development of both commercial and residential spaces. The company envisions creating one million sq. ft. of commercial space and two million sq. ft. of residential space annually, cementing its position as a major player in the region.

Exceeding Expectations: Development Opportunities Surge

In a remarkable achievement during the first half of the current financial year, Max Estates secured development opportunities spanning seven million sq. ft., with a Gross Development Value (GDV) of Rs 11,300 crore. This milestone significantly surpasses the company's initial guidance of three million sq. ft. per year. Encouraged by this success, Max Estates has revised its FY25 booking value guidance to an impressive Rs 4,800-5,200 crore, up from the previously estimated Rs 4,000 crore.

Major Projects on the Horizon in Noida

The company has received approval from the National Company Law Appellate Tribunal (NCLAT) for the ambitious ‘Delhi One’ project in Sector-16B, Noida. Spanning 34,697 square meters, this mixed-use development has a potential of 2.5 million sq. ft., promising to redefine the urban landscape.

Additionally, Max Estates announced plans to enhance its Estate 128 project in Noida by securing an upgraded Floor Area Ratio (FAR) for the fourth tower. This development is expected to generate a GDV of Rs 800 crore, showcasing the company's commitment to maximizing land potential.

Strategic Timelines for Execution

The company aims to commence the Estate 128 project in Q3 of FY25, following the completion of all requisite approvals. With its robust strategy and significant funding in place, Max Estates is poised to deliver on its ambitious goals, further strengthening its footprint in the high-demand real estate markets of Noida and Gurgaon.

Highlights:

• Max Estates' Vision: Rs 800 crore QIP to drive land acquisition in Noida and Gurgaon.
• Development Targets: Annual creation of 1 million sq. ft. commercial and 2 million sq. ft. residential spaces.
• Performance Excellence: Secured 7 million sq. ft. of opportunities worth Rs 11,300 crore, exceeding annual guidance.
• Revised Projections: FY25 booking value now targeted at Rs 4,800-5,200 crore.
• Key Approvals: NCLAT nod for 2.5 million sq. ft. ‘Delhi One’ project in Noida.
• Future Developments: Estate 128 to launch by Q3/FY25 with enhanced FAR and Rs 800 crore GDV potential.

Max Estates’ strategic initiatives signal its growing prominence in shaping the real estate landscape of Noida and Gurgaon.

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