Real Estate Sector

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Max Estates stated earlier this month that it has secured 100% lease commitment for its Max House Phase 2 projects.

The properties, located in Sector 62, YPS Chowk, Sahibzada Ajit Singh Nagar (Mohali), cover around 13.14 acres.

The allotment of equity shares in the offer increased the company's paid-up equity share capital to ₹160 Crore.

The property parcels have a development potential of over 1 million square feet and an expected revenue of over ₹3,400 Crore.

The company will issue 13.3 lakh convertible warrants to Ramesh Sawalram Saraogi at a price of ₹750 per warrant.

On August 9, Godrej Properties was the top bidder for two land parcels in Greater Noida, totalling ₹842 Crore.

The company introduced Godrej Tropical Isle with a booking value of ₹2,050 Crore, followed by Godrej Jardinia within three quarters.

Furthermore, Blackstone has agreed to a voluntary lock-in for the remaining 6.3% ownership for a period of nine months.

EBITDA increased by 51.2% to ₹796.3 crore in the first quarter of this fiscal year, up from ₹526.7 crore in the same period last year.