Max Estates reports Rs 4,100 cr pre-sales from Gurugram project

04 Oct 2024 CW Team

Max Estates Limited has announced ₹4,100 crore in pre-sales from its first residential project in Gurugram. The company had initially projected ₹4,000 crore in guidance for FY25 and has already collected ₹400 crore.

“Our main focus is on executing multiple projects and expanding our portfolio by adding 3 million square feet each year as we introduce new LiveWell experiences,” stated Sahil Vachani, Managing Director and Vice Chairman of Max Estates.

In light of this success, Max Estates has revised its guidance for the total Gross Development Value (GDV) of Estate 360 from ₹4,000 crore to ₹4,800 crore for FY25.

“The successful launch of Estate 360 reinforces our commitment to enhancing our presence in this sector, which includes acquiring an additional 18.23 acres of land adjacent to the current development earlier this year through a Joint Development Model (JDA). This project is currently in the design phase and will be launched in stages starting next financial year, with an overall development potential of 4 million square feet and a GDV potential of ₹9,000 crore,” said Rishi Raj, COO of Max Estates.

Estate 360 is touted as Delhi NCR’s first large-scale intergenerational residential community, designed by the renowned architecture firm Gensler. Two of the six residences are dedicated to senior living, managed by Antara Senior Living, and include a healthcare center available to all community residents. The entire development is IGBC Platinum Pre-certified, integrating sustainability best practices.

Max Estates has built a diversified portfolio of real estate across two asset classes in Delhi NCR and has partnered with New York Life Insurance Company (NYL) to enhance its commercial office platform.

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