Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Google
Web www.equitybulls.com
Stock Report

| More

MaxVIL back to strong profits in Q2; Q2 EBIDTA up 5.3x

Posted On: 2019-11-08 16:35:11

Max Ventures & Industries Limited (MaxVIL), a part of the US$ 3.2 billion Max Group, operates across two core businesses of Real Estate in NCR and Specialty Packaging Films. MaxVIL has announced its results for the quarter ended 30th September 2019.

- Consolidated Revenues at Rs 4,348 Mn up by 63%
- Consolidated EBITDA at Rs 416 Mn up by 530%
- Consolidated PAT at Rs 92 Mn turned positive

Commenting on the Performance, Sahil Vachani, MD & CEO of MaxVIL said, "We are pleased to announce strong performance across our businesses in Q2FY20 thus continuing the positive momentum from Q1FY20. We have taken significant steps in the Real Estate vertical with a land parcel acquisition in Sector 129 in Noida. The investments for the next phase of Real Estate growth will be funded through a frugal capital model which deploys internal accruals along with the platform level investments from global institutional funders.

The leasing momentum at our flagship commercial project, Max Towers has picked up significantly with 34,152 sq. ft. space leased in the current quarter. We are extremely pleased with the tenant base we have acquired which comprises a balanced mix of MNCs, US-based technology firms, large domestic services firms etc. Given the Grade A+ specifications of Max Towers as well as a progressive environment built on our WorkWell philosophy that provides its occupants an energy-efficient and green work environment, a technology-enabled smart workspace designed to boost productivity while they are working and a vibrant food & recreation hub when they want to socialize or take a break. Our recent leases are at a 40% premium to the micro market rates."

Of the 5 lakh sq. ft. available at Max Towers, it has sold 1.45 lakh sq. ft. at a value of approx. Rs. 2,000 Mn. The proceeds will be utilized to build a robust, differentiated high quality office assets portfolio with potential to deliver a mid to high teen IRR profile. With the sale and leasing, Max Towers has established its credentials in premium office space in NCR.

An agreement for purchase of a distressed commercial use land parcel at a prime location on Noida Expressway (Sector 129) by a wholly owned subsidiary of Max Estates Limited has also been executed. Construction is expected to commence in Q1FY21, which coincides with the completion timeline of Max House, Okhla. This would help sustain a steady project construction pipeline for Max Estates.

Max Towers continues to scout for more such attractive office space development opportunities in DelhiNCR through a combination of platform and project level partnerships as this geography continues to show high absorption and low vacancy levels of Grade A+ office space. It has shown the capability to create differentiated assets within time and budget while navigating the regulatory landscape. Max Towers' proven, highly capable and motivated real estate team is now looking to capitalize on the vast opportunities in Real Estate in the NCR.

The Specialty Films business, after coping with a cyclical industry downturn has emerged stronger and witnessed a sustained improvement in H1FY20. The oversupply in the industry due to additional capacity creation is normalizing and in turn is helping improve profitability. The strategy of increasing the contribution of Specialty grade films will lead to outperformance.

Shares of Max Ventures and Industries Ltd was last trading in BSE at Rs.39.45 as compared to the previous close of Rs. 39.35. The total number of shares traded during the day was 28821 in over 245 trades.

The stock hit an intraday high of Rs. 41 and intraday low of 38.4. The net turnover during the day was Rs. 1146335.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

GAIL hands over seven tippers and 142 tri-cycles to Chandigarh Municipal Corporation

ICRA AA (Stable) rating assigned to proposed NCD issue of Godrej Industries Ltd

OIL commences 2D Vibroseis Seismic Survey operations in its OALP-I Block (RJ-ONHP-2017/9)

Registration granted for Roto Pumps Ltd's product

GAIL rated as the Top Gas - Transmission Company

G E Shipping contracts to sell its Suezmax Crude Carrier 'Jag Lakshita'

Steel Strips Infrastructures Ltd board approves disposal of SAB Mall, Noida

Essel Group to further divest its stake in ZEEL

IHCL and Les Roches Choose 'Next General Manager of India'

Airtel partners with CuriosityStream to bring award-winning factual entertainment to Indian customers

Titan ties up with Bengaluru By Design for their second run

TCS iON Reimagines University Education with a Unique Phygital Learning Program

Philippines Business Bank selects Intellect Digital Core, IDC 19.1, to power its Digital Transformation

Infosys Receives Five Awards at the DevOps Industry Awards 2019

NMDC Ltd revises Prices of Iron Ore w.e.f. 14-11-2019

RBI imposes monetary penalty of Rs. 1.75 crore on Indian Bank

Kalpataru Power Transmission Ltd completes disinvestment of Kalpataru Satpura Transco Private Limited

Parag Milk Foods announces launch of Go Cheese Blend for out of home consumption market

Ugar Sugar Works commences sugar crushing for season 2019-20

SpiceJet and Gulf Air sign MoU to explore greater cooperation

Mr. Abhishek Gami acquires controlling stake in Rapicut Carbides Limited

Jagran Prakashan Ltd updates on CP rating

Havells introduces ST^Dx Switchgear in Tamil Nadu

TCS Collaborates with Qualcomm to Launch New Innovation Hub to Develop Next-Gen AI Solutions with 5G

IntrCity by RailYatri, ICICI Lombard & Marsh join hands to provide insurance cover worth 5 Lacs for IntrCity SmartBus Travelers

Maruti Suzuki invites startups to participate in third cohort of MAIL (Mobility & Automobile Innovation Lab) program

Blue Star launches new room air conditioners with in-built air purifiers that improve the quality of life

Subros Limited formally inaugurates its 9th state-of-the-art manufacturing plant

Open Offer for Accelya Solutions India Ltd at Rs. 944.19

Ullico Casualty Group Selects Majesco P&C Core Suite and Majesco Enterprise Data Warehouse on Majesco CloudInsurer® to Underpin Digital Transformation and Growth Strategy

Shree Cement Ltd board to approve QIP allotment, discount, issue price on Nov 22, 2019

Siemens Ltd reappoints Deepak Parekh and Yezdi H Malegam as independent directors

Reliance Capital's stake in Reliance General Insurance Company Ltd invoked by IDBI Trustee

Brickwork Ratings reaffirms commercial paper issue rating of JSW Energy Ltd

Jio keeps consumers at the center of digital revolution in India

CARE reaffirms long term rating of Loyal Textile Mills Ltd

University of Oulu, Wipro Sign MoU to Collaborate on 5G/6G Technologies

NBCC (India) Ltd bags project consultancy contract

Siemens Ltd Board recommends Dividend of Rs. 7 for 2018-19

Dilip Buildcon Ltd arm receives provisional completion certificate for project in NH-361

Siemens Limited announces Q4 FY 2019 results

CarDekho delivers 92% growth in H1 2019-20

Bajaj Finserv offers lucrative deals on Vivo smartphones

South Indian Bank Ltd revises MCLR from Nov 20, 2019

Tata Chemicals tops 6th edition of ET Edge - Futurescape Responsible Business Rankings 2019 unveiled at Economic Times - SDG Impact Summit

RBI imposes penalty of Rs. 2.50 crores on Bank of Baroda

Alkyl Amines Chemicals Limited has sold its stake in Diamines and Chemicals Ltd

Appirio, MuleSoft Partner to Provide Digital Transformation Solutions

TCS and Govt of Karnataka Rural IT Quiz: Government Excellence School, Dewas, Madhya Pradesh wins National Finals

Infosys Foundation India International Challenge 2019 to host 250 players from 13 countries







Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2019