Max Ventures’ real estate arm logs pre-launch sales of ~Rs 1,800 crore for new project

10 Jul 2023 , 03:06 PM

Max Ventures and Industries’ real estate arm, Max Estates, achieved pre-formal launch sales of more than Rs 1,800 crore for its first luxury residential project in Noida.

The company is bringing a luxury project, Estate 128, to sector 128. The project will span across 10 acres, consisting of three high-rise towers and 201 units. The project entails facilities such as, sports facilities, a swimming pool, a spa, and a multipurpose hall.

The company aspires to expand the portfolio by at least 1 million square feet each in residential and commercial asset classes every year across Delhi-NCR and become the top developer in the area.

The company expects to commence construction of the project by the third quarter of CY2023, and shall be completed in 48-60 months, the company informed the bourses.

In March, the National Company Law Tribunal (NCLT) approved Max Estates’ resolution plan for the development of a commercial plot in Noida.

The 34,697-square-metre plot falls under the ‘Delhi One’ project, and its purchase has the potential to add 2.5-3 million square feet of additional development footprint to Max Estates’ portfolio, according to the company.

At around 3.05 PM, Max Ventures was trading at Rs 208.80, against the previous close of Rs 208.60 on NSE.

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