Max Estates Ltd launches first-of-its-kind intergenerational project Estate 360 in Gurgaon

Antara Senior Living, part of the USD 5-bn Max Group and a wholly owned subsidiary of Max India Limited, has entered into an agreement with Max Estates Ltd. for managing the senior living residences and spaces in the successfully launched intergenerational residential community, Estate 360 at Gurgaon, by Max Estates Ltd.

Two of the six residences at Estates 360 will be dedicated to senior living. Max Estates Ltd. has informed that it has received an overwhelming response for the sale of senior living residences. These residences have garnered ~INR 1,100 crore out of total pre-sale booking of ~INR 4,100 crore for Estate 360 as a whole. Max Estates Ltd. has revised its guidance for total gross development value potential for Estate 360 to ~INR 4,800 crore to be booked in FY 25. The presales booking value for senior living residences is estimated to be ~INR 1500 crore in FY 25. As per the management agreement with Max Estates Ltd., Antara has the potential to earn a Revenue of ~INR 140 crore over the project life cycle.

In view of the good response of Estate 360, Antara is already in dialogue with Max Estates Ltd. for a further partnership in the additional development being planned by them contiguous to the existing project.

The senior living residences and dedicated spaces for senior living shall be fully managed by Antara along with the primary healthcare services in the community.

These fully finished senior living residences at Estate 360 offer a host of pre-installed amenities tailored specifically for seniors. These include panic alarm buttons, anti-skid tiles, glare-free lighting, wider doorways, and corridors, and many more. In terms of services, these include primary medical assistance, emergency response systems, and engagement activities to keep the seniors physically and cognitively active. The community ecosystem enables seniors to live in a safe and secure environment in the company of like-minded people.

In addition to outdoor spaces, the project includes amenities such as a golf putting area, an outdoor gym, a dedicated sports block with both indoor and outdoor sports facilities, and landscaped areas promoting well-being and activity. The Antara Club, a dedicated club for seniors at Estate 360, provides a platform to explore creative pursuits along with an array of facilities such as all-day dining with personalized, curated nutritious meals and a wellness zone to promote active and healthy living. All the amenities are carefully curated based on the wellness pillars of Antara.

This unique intergenerational community in Gurgaon is aligned with Antara's goal for seniors to look at life as they get older as a new beginning to a hassle-free life, in the care, safety and security of an expert team.

"Through an understanding of the generational needs of all, Estate 360, imagined and developed by Max Estates, where senior living is managed by Antara, offers a vibrant ecosystem that honours the interests of adults, families with children, and seniors. Our existing senior living residential communities include a thriving operational community in Dehradun and a soon-to-be operational community in Noida. The company is also exploring more opportunities in the second phase of development in Gurgaon, and in new geographies to realize its commitment to develop 1.5 million square feet every year for the next 4-5 years.", said Rajit Mehta, MD and CEO, Antara Senior Living.

Shares of Max Estates Limited was last trading in BSE at Rs. 617.75 as compared to the previous close of Rs. 609.85. The total number of shares traded during the day was 16232 in over 1064 trades.

The stock hit an intraday high of Rs. 627.55 and intraday low of 606.60. The net turnover during the day was Rs. 10040767.00.

Source : Equity Bulls

Keywords

MaxEstates Residential Commercial Projects INE03EI01018 AntaraSeniorLiving Intergenerational ResidentialCommunity Estate360 Gurgaon