Max Group’s realty arm surpasses FY25 guidance with maiden Gurugram project | News
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Estate 360 will also have two residences dedicated to Antara Senior Living, the group’s senior care arm, making it an “intergenerational living community” project.Representational Picture
Max Estates Limited, the real estate arm of Analjit Singh’s Max Group, said on Monday that it had recorded a pre-sales booking value of Rs 4,100 crore from its maiden project in Gurugram, surpassing its FY25 guidance of Rs 4,000 crore.
The luxury project, Estate 360, was launched on August 27 this year and is located on the Dwarka Expressway in Sector 36A, Gurugram.
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With this, the company said it is revising its guidance for the total Gross Development Value potential of Estate 360 from Rs 4,000 crore to Rs 4,800 crore in FY25.
Sahil Vachani, managing director and vice chairman of Max Estates, said that the company would expand its portfolio by 3 million square feet every year.
“The successful launch of Estate 360, located in Sector 36A, Dwarka Expressway, Gurugram, has further reinforced Max Estates’ decision to consolidate its presence in this sector by acquiring an additional 18.23 acres of land contiguous to the current development earlier this year through a Joint Development Agreement (JDA) model,” said Rishi Raj, chief operating officer of Max Estates.
“The project is under design and will be launched in phases starting next financial year, with an overall development potential of 4 million square feet and a Gross Development Value potential of Rs 9,000 crore,” he added.
Last year, the company’s first luxury project in the region, Estate 128 in Noida, garnered similar interest from buyers, receiving pre-sales bookings worth Rs 1,800 crore.
Estate 360 will also have two residences dedicated to Antara Senior Living, the group’s senior care arm, making it an “intergenerational living community” project.
Following the announcement, Max Estates’ shares were trading higher at Rs 615.7 apiece on BSE as of 10 AM
First Published: Sep 30 2024 | 11:12 AM IST
