Max Estates rises after taking over Noida-based 'Delhi One' project
Max Estates added 3.57% to Rs 431.15 after the company stated that it has taken over the Delhi One Project, following the receipt of final approval from the National Company Law Tribunal (NCLT) and National Company Law Appellate Tribunal (NCLAT).
"This marks a significant turnaround for the long-stalled site, bringing relief to homebuyers and unlocking fresh momentum for NCRs most strategically located integrated campus, the company said.
The development of the Delhi One project will consolidate Max Estates position as a leading premium real estate developer in Noida and NCR. The development will host ultra-luxury residences, premium office spaces, curated high street retail and exclusive club facilities.
Situated at the edge of South Delhi and directly connected via the Delhi-Noida-Direct (DND) Flyway, the development is just steps from key metro stations, benefitting from unparalleled connectivity across Delhi NCR. The project spans approximately 2.5 million square feet of development part of around 10 acre land parcel constituting approximately 34,696 square meters of area.
Sahil Vachani, vice chairman and managing director, Max Estates, said: We are delighted to announce that Max Estates has taken over Delhi One. We believe that we will provide a world class real estate experience to the residents and office goers of the NCR.
Max Estates 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 had reported a consolidated net profit of Rs 19.75 crore in the quarter ended December 2024 as against net loss of Rs 3.14 crore during the previous quarter ended December 2023. Sales rose 65.66% to Rs 40.04 crore in Q3 FY25 as compared with Q3 FY24.
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