Max Estates Ltd Share Price – NSE  / BSE

Realty, Small Cap

Net profit of Max Estates rose 923.81% to Rs 2.15 crore in the quarter ended September 2024 as against Rs 0.21 crore during the previous quarter ended September 2023. Sales rose 96.10% to Rs 40.18 crore in the quarter ended September 2024 as against Rs 20.49 crore during the previous quarter ended September 2023.

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Net profit of Max Estates rose 4174.69% to Rs 241.52 crore in the quarter ended September 2024 as against Rs 5.65 crore during the previous quarter ended September 2023. Sales declined 21.26% to Rs 7.48 crore in the quarter ended September 2024 as against Rs 9.50 crore during the previous quarter ended September 2023.

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Max Estates will hold a meeting of the Board of Directors of the Company on 25 October 2024.

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In a regulatory filing made before market hours today, the Noida-based real estate developer stated that it had launched its first residential development Estate 360 in Gurugram on 27 August 2024 after receiving its RERA registration on 16 August 2024.

Within 30 days of the launch, the project has garnered a pre-sales booking value of approximately Rs 4,100 crore surpassing the guidance of nearly Rs 4,000 crore provided by the company for FY25. The project has already received a collection of Rs 400 crore.

With this successful launch, Max Estates revises the guidance for the total gross development value potential of Estate 360 from Rs 4,000 crore to Rs 4,800 crore in FY 25,” the company said in a statement.

Sahil Vachani, MD & vice chairman of Max Estates said: We are overwhelmed by the response to our first inter-generational offering in Gurugram.

As we look forward to introducing new LiveWell experiences, our primary focus remains on the execution of multiple projects and to scale the portfolio by adding nearly 3 million square feet every year.

Commenting on this development, Rishi Raj, COO of Max Estates, stated: The successful launch of Estate 360, located in Sector 36A, Dwarka Expressway, Gurugram, has further reinforced Max Estates’ decision to consolidate its presence in this sector by acquiring additional 18.23 acres of land contiguous to current development, earlier this year, through a joint development model (JDA) model.

The project is under design and will be launched in phases starting next financial year, with overall development potential of nearly 4 million square feet and gross development value potential of approximately Rs 9,000 crore.

Max Estates Limited is the real estate arm of the Max Group. The company develops premium commercial and residential spaces in Delhi NCR. The company has developed a very well diversified portfolio of real estate across the two asset classes in Delhi NCR and in this pursuit has partnered with New York Life Insurance Company (NYL) particularly for commercial office platform.

The company reported a consolidated net profit of Rs 1.57 crore in Q1 FY25 as against a net loss of Rs 37.79 crore posted in Q1 FY24. Net sales zoomed 121.5% to Rs 40.49 crore in the June quarter from Rs 18.28 crore recorded in the same period a year ago.

The scrip rose 0.83% to currently trade at Rs 614.90 on the BSE.

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