Max Estates' first luxury residential project in NCR garners pre-formal launch sales of INR 1,800+ crores

Max Ventures and Industries Limited's (MaxVIL) real estate arm, Max Estates, has achieved pre-formal launch sales of over INR 1,800 crores for its first luxury residential project, Estate 128, located in Sector 128, Noida. The project is registered with UP RERA number as UPRERAPRJ446459.

Estate 128 is built across 10 acres, with 3 high rise towers having 201 units anchored in the organisation's LiveWell philosophy. With 80% green spaces and a unique landscape that retraces the 'journey of a river' through multiple terrains, diverse biophilia, and art installations, the development has been designed to encourage engagement and interaction among residents. The project also features large expansive decks in every unit, designed for a bespoke outdoor experience, which provide uninterrupted serene views overlooking the central green landscape, and green belt of the expressway. The amenities in the project are carefully designed for holistic wellbeing. 'The Hub at Estate 128', admeasuring ~46,000 sq. ft. encompasses state of the art indoor and outdoor amenities including swimming pool, spa, sports facilities, multipurpose hall, dining, among others.

Commenting on the same, Sahil Vachani, MD & CEO of MaxVIL, said, "We are truly humbled by the trust consumers have placed in Max Estates. Our success at Estate 128 serves as a motivation for us to continue to deliver the LiveWell and the WorkWell promise to our consumers and strengthens our resolve to continue to deliver differentiated experiences across Delhi-NCR. Our stated aspiration is to scale the portfolio by at least 1 million square feet each in residential and commercial asset classes every year across Delhi-NCR and become the most preferred developer in the region. With approval of amalgamation of MaxVil and Max Estates Limited (MEL), MEL will get listed as pure play real estate company resonating well with our aspiration."

On this, Rishi Raj, COO of Max Estates, added, "The success of Estate 128 inspires us to continue creating spaces built on our LiveWell-WorkWell philosophy. We expect to start construction of the project by Q3 CY2023 and achieve completion in 48-60 months, well within committed RERA timelines.

Over the past 18 months, we have built a development portfolio of 8 million square feet as a part of our 'One region, multiple asset' class strategy. Our portfolio is now well diversified across Delhi-NCR in terms of geographical footprint, asset classes (both commercial and residential), and risk spectrum including delivered, nearing completion, and under design.

Our focus is to continue to invest in people, processes, technology and ESG best practices, which will enable us to execute flawlessly at scale, on time, within budgeted cost and with quality better than promised."

Shares of Max Ventures and Industries Limited was last trading in BSE at Rs. 209.20 as compared to the previous close of Rs. 207.50. The total number of shares traded during the day was 5004 in over 121 trades.

The stock hit an intraday high of Rs. 210.00 and intraday low of 203.80. The net turnover during the day was Rs. 1031990.00.

Source : Equity Bulls

Keywords

MaxVenturesandIndustries INE154U01015 MAXVIL MaxEstates LuxuryResidentialProject PreFormalLaunch Sales Noida