Max Estates Limited (MEL) has announced its unaudited financial results for the third quarter and nine months of FY25, showing strong growth across its portfolio. With a 17 mn sq ft real estate portfolio, the company has already exceeded its full-year pre-sales guidance by generating Rs 5,200 Crore in nine months. Recently, the company's key highlight is its strategic acquisition of 10.33 acres of prime land in Noida, with a potential mixed-use development of approximately 2.6 mn sq ft.
Max Estates has acquired a 10.33-acre prime land in Sector 105 on Noida-Greater Noida Expressway for around Rs 711 Crore. This acquisition includes residential and commercial complexes, with an estimated GDV of approximately Rs 3,000 Crore. The project's annual annuity rental income potential is projected at Rs 140 Crore mn sq ft.
Additionally, Max Estates received approval from NCLAT for its 'Delhi One' project in Sector 16B, Noida. The project spans 34,697 sq mt and will offer 2.5 mn sq ft of mixed-use development, including residential and commercial spaces. With a GDV potential of Rs 1,500 Crore, the project is expected to generate an annual annuity income of Rs 120 Crore and Rs 500 Crore from receivables from sold inventory.
In the residential, Max Estates reported strong pre-sales performance, particularly with its Estate 128 project in Noida. The second phase of this development exceeded its sales target, with pre-sales bookings of Rs 869 Crore, surpassing the original estimate of Rs 800 Crore. The project spans 10 acres and is now a fully integrated community of four towers, with a total booking value of Rs 2,730 Crore. The company has already collected Rs 550 Crore from this phase.
The Estate 360 project in Gurugram also performed well, with pre-sales bookings of Rs 4,325 Crore and 90 per cent of the project already sold. This project has collected Rs 645 Crore. Additionally, MEL has a launch pipeline of over 7 mn sq ft, with a GDV potential of over Rs 14,000 Crore, planned for launch in FY26 and FY27.
In the commercial, Max Estates is acquiring three floors in Max Towers, Noida, from Max India Limited for Rs 105.08 Crore. This acquisition supports the company's strategy to consolidate its holdings in this premium commercial property, enhancing its operational control.
Max Square has achieved a 93 per cent occupancy rate within a year of its launch, commanding a 30 per cent premium compared to the surrounding micro-market. The company's commercial portfolio is expected to generate over Rs 700 Crore in annuity rental income over the next five years, including delivered, under-construction, and acquisition projects.
Sahil Vachani, Vice Chairman & MD of Max Estates, said, "The Indian residential real estate market is set for strong and sustained growth in the coming years, fueled by improved affordability, an increasing proportion of the upper mid-income and high-income population, and a notable shift in consumer preferences towards premium, high-quality living spaces.
The Delhi NCR region is experiencing significant infrastructure upgrades, including airport advancements, road networks, and mass rapid transport systems. These developments are accelerating urbanisation and enhancing the region's appeal as a highly desirable destination for residential living and professional opportunities.
In the first nine months of FY25, we exceeded our revised full-year guidance, achieving a pre-sales booking value of Rs 5,200 crore. We remain deeply focused on the NCR region to continue to enable "real well-being in the real estate space truly. Our strong business development strategy has enabled us to build a well-diversified portfolio of 17 million sqft within Delhi NCR across residential, commercial and mixed-use development opportunities, positioning us for sustained growth in the years ahead.
As a part of our growth trajectory, we continue to seek new growth opportunities and scale up by adding at least 3 million sq. ft. every year to our current portfolio, which will enable us to diversify our footprint in Delhi NCR across commercial and residential asset classes through both JDA's and outright acquisitions."
