Max Estates enters Gurugram Residential Real Estate market with development potential of ~2.4 mn. sq. ft.

17^th February 2023, New Delhi:

Max Ventures & Industries Limited’s (MaxVIL) real estate arm, Max Estates, has entered the Residential Real Estate market in Gurugram through a joint development agreement, with development potential of ~2.4 mn. sq. ft. and gross development value in excess of INR 3,200 crores.

The land parcel admeasures ~11.8 acres and is located in Sector 36A, Gurugram, with direct access from the Dwarka Expressway. The 150m-wide Dwarka expressway connects Gurugram to Delhi and in the last 5 years, both sides of this expressway have witnessed rapid growth in terms of residential and commercial development. The site is also strategically located at the confluence of the expressway, Central Peripheral Road (CPR) and planned Metro Corridor, by virtue of which, this site has excellent connectivity to central and secondary business districts of Gurugram such as Cyber City, Golf Course Road and Southern Peripheral Road (SPR). Furthermore, the site is located in proximity to the Global City plan proposed by Haryana Government, envisioned as a futuristic Central Business District of Delhi-NCR.

Following the successful implementation of its WorkWell philosophy in its commercial assets, Max Estates will look to implement its LiveWell philosophy here, which focusses on the holistic well-being of its residents across all age groups.  Max Estates will be developing the region’s first inter-generational community.

After successful commercial developments in Delhi and Noida, Max Estates expanded its footprint to the residential development space in Noida as well as announced a commercial development in Gurugram. Through this transaction, the Company will now have a presence in the residential market of Gurugram as well.

Commenting on the milestone, Mr. Sahil Vachani, MD & CEO of Max Ventures & Industries Limited, said, “FY2023 has been a defining year for the company’s real estate business in its growth journey. With this acquisition, we will be ending FY2023 with a real estate portfolio of ~8 mn. sq. ft., which is well diversified in terms of geographical footprint across Delhi, Noida and Gurugram as well as between residential & commercial assets. Our focus continues to be on exceptional design, sustainability and consumer experiences anchored on our WorkWell and LiveWell philosophy.”

About Max Ventures & Industries Limited (MaxVIL):

MaxVIL

Max Ventures & Industries Limited (MaxVIL), a part of the leading Indian multi-business conglomerate Max Group, owns and operates its real estate business through its 100% subsidiary, Max Estates. MaxVIL also has a real estate services & management company – Max Asset Services. MaxVIL is listed on NSE and BSE.

Max Estates Limited

Established in 2016, Max Estates Limited is the real estate arm of the Max Group and a wholly owned subsidiary of MaxVIL. Its vision is to bring the Group’s values of Excellence, Credibility and Sevabhav to the Indian real estate sector. Its marquee projects include a one-of-its-kind commercial office space Max Towers, on the edge of South Delhi that opened its doors in 2019, Max House – a re-development of office campus and 222 Rajpur, a luxury residential villa community on Rajpur Road, Dehradun. It aims to create, build and operate Grade A+ office spaces in Delhi-NCR. The company has entered into a partnership with New York Life Insurance Company (NYL) for its 3^rd commercial project in Delhi-NCR named Max Square. Recently, company has also forayed into the residential segment with its first project planned to be developed in Noida.

Max Asset Services Limited (MAS)

Max Asset Services Limited focuses on providing real estate as a service in the form of facility management, community development and managed offices. It aims to bring life into buildings by implementing the Max Estates’ WorkWell philosophy through amenities and ‘Pulse’, which focuses on curating engaging events for office tenants.

Safe Harbor Statemnt:

Statements in this document relating to future status, events, or circumstances, including but not limited to statements about plans and objectives, the progress and results of research and development, potential project characteristics, project potential and target dates for project related issues are forward-looking statements based on estimates and the anticipated effects of future events on current and developing circumstances. Such statements are subject to numerous risks and uncertainties and are not necessarily predictive of future results. Actual results may differ materially from those anticipated in the forward-looking statements. The company assumes no obligation to update forward-looking statements to reflect actual results changed assumptions or other factors.