Max Estates takes over Delhi One project in Noida
Max Estates
has taken over the
Delhi One
Project in
Noida
. This is expected to bring relief to homebuyers of
Boulevard Projects
(BPPL) as the company looks to revive Delhi One project in Noida, after seven long years of wait.
The project spans approximately 2.5 million sq ft of development part of around 10-acre land parcel constituting 34,696 sq meters of area.
The total sales and annuity rental income potential of the project is estimated to be over ₹2,000 crore and over ₹120 crore respectively.
The company had received final approval from the
National Company Law Tribunal
(NCLT) and National Company Law Appellate Tribunal (NCLAT) on February 2023 and October 2024 respectively.
Delhi One is an integrated mixed-use development that will host serviced residences, office spaces, retail spaces and a club.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Standard
4 days ago
- Business Standard
JK Paper rises as Q1 PAT jumps 7% QoQ to Rs 81 cr
JK Paper rose 2.34% to Rs 359.35 after its consolidated net profit jumped 6.60% to Rs 81.23 crore in Q1 FY26, compared to Rs 76.20 crore posted in Q4 FY25. However, revenue from operations declined by 0.90% quarter-on-quarter (QoQ) to Rs 1,674.16 crore in the quarter ended 30 June 2025. On a year-on-year (YoY) basis, net profit fell 41.86%, while revenue from operations shed 2.30% in Q1 FY26. In Q1 FY26, profit before tax fell by 40.03% year-on-year to Rs 116 crore, as compared to the same quarter in FY25. Total expenses rose 2.19% year on year to Rs 1,583.23 crore in the quarter ended 30 June 2025. The cost of material consumed stood at Rs 149.58 (up 10.37%YoY), finance cost was at Rs 67.14 crore (up 88.64%) during the period under review. Revenue from paper and packaging segment declined 3.91% to Rs 1,641.82 crore in Q1 FY26 as against Rs 1,708.73 crore in Q1 FY25. Revenue from others segment jumped 192.13% to Rs 34.91 crore in Q1 FY26 from Rs 11.95 crore in Q1 FY25. Shri Harsh Pati Singhania, said, the companys core business in paper and paper Board continued to face headwinds from cheap imports resulting in depressed sales realization and ongoing high domestic wood prices. Despite this, JK Paper improved its profits on a sequential basis. The board of directors of JK Paper (JKPL) has approved the acquisition of a majority stake in Borkar Packaging Private (BPPL). Commenting on the acquisition, Shri Harsh Pati Singhania, chairman & managing director, said, The Packaging Conversion business is amongst the fastest growing segments in the Indian Paper and Packaging industry driven by growth in end use industries. The acquisition of BPPL is in line with the long term strategic objective of the Company and gives us an opportunity to offer combined solution to customers with respect to secondary and tertiary packaging. BPPLs customers, employees, vendors and partners will benefit from JK Papers strong knowledge of manufacturing and its high standards in operational excellence, financial management and corporate governance. With this acquisition, JKPL will further strengthen its top leadership position in the corrugated packaging segment and emerge amongst the top three players in the Folding Cartons space. BPPL is engaged in the manufacturing of packaging products such as folding cartons, corrugated boxes, and labels. The company operates seven plants across India and reported revenue of Rs 393.20 crore for the financial year 202324. Furthermore, the companys board approved the proposed issuance of redeemable non-convertible debentures (NCDs) of up to Rs 500 crore (Rupees five hundred crore only), in one or more tranches or series. The funds raised will be utilized for routine capital expenditure, long-term working capital requirements, and general corporate purposes, in compliance with applicable regulations and guidelines. JK Paper is the leading player in office papers, coated papers and Packaging boards. It is one of the most respected paper companies today.
Mint
21-07-2025
- Mint
Breakout stocks to buy or sell: Sumeet Bagadia recommends five shares to buy today — 21 July 2025
Breakout stocks buy or sell: The Indian stock market closed lower for the second straight session on Friday, July 18, as investors continued to reduce their equity holdings due to lackluster earnings, high market valuations, and ongoing uncertainty surrounding tariffs. The Sensex declined by 502 points, or 0.61 per cent, ending at 81,757.73, while the Nifty 50 fell 143 points, or 0.57 per cent, to close at 24,968.40. The BSE Midcap index slipped 0.62 per cent, and the Smallcap index dropped by 0.64 per cent. Sumeet Bagadia, Executive Director at Choice Broking, believes that Indian stock market sentiment has turned weak as the Nifty 50 index has closed close to its 50-DEMA support of 24,900. Speaking on the outlook of Indian stock market, Bagadia said, ' On breaking below this support, the key benchmark index may try to touch next support of 24,650. So, one should maintain stock-specific approach and look at those stocks that are looking strong on the technical chart. Looking at breakout stocks can be a good option." Sumeet Bagadia recommends five breakout stocks to buy today: Max Estates, I G Petrochemicals, Blue Jet Healthcare, Sanathan Textiles, and Sagar Cements. 1] Max Estates: Buy at ₹ 552.9, target ₹ 590, stop loss ₹ 535; 2] I G Petrochemicals: Buy at ₹ 509, target ₹ 540, stop loss ₹ 490; 3] Blue Jet Healthcare: Buy at ₹ 1010.2, target ₹ 1080, stop loss ₹ 975; 4] Sanathan Textiles: Buy at ₹ 554.05, target ₹ 590, stop loss ₹ 535; 5] Sagar Cements: Buy at ₹ 268.5, target ₹ 288, stop loss ₹ 260. Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
Hindustan Times
30-06-2025
- Hindustan Times
Noida authority denies ₹67 cr waiver in transfer fee for Delhi One project
Noida: The Noida authority has refused to offer waivers on the charges levied on transfer of Delhi One realty project to Max Estates private limited, thereby, rejecting the proposal made by the company requesting for waivers. To be sure, the Max Estates took over the stalled Delhi One project in Sector 16B through corporate insolvency resolution process. (Sunil Ghosh/HT archives) Max Estates will have to pay ₹ 67 crore charges on change in constitution charges (CIC) or transfer charges, the authority said. To be sure, the Max Estates took over the stalled Delhi One project in Sector 16B through corporate insolvency resolution process. 'The decision not to give waivers was taken by the authority's board meeting on June 14, which stated that the full amount must be paid under its newly implemented Unified Policy,' said Noida chief executive officer (CEO) Lokesh M. Max Estates, part of the Max Group, emerged as the successful resolution applicant through National Company Law Tribunal (NCLT) proceedings to revive the long-delayed Delhi One mixed-use project originally developed by Boulevard Projects Private limited. As part of the approved resolution plan, Max Estates proposed settling dues with secured creditors and the authority, which had initially raised claims exceeding ₹ 932 crore. Only ₹ 325 crore of this claim was formally accepted in the plan. In a revised offer to clear outstanding liabilities and speed up project work, Max Estates proposed to pay ₹ 613 crore over three years. While the authority accepted this settlement offer in principle, the developer also sought a waiver of CIC charges, arguing these were not justified in the context of insolvency resolution and project revival. After receiving no decision on this request, Max Estates approached the Allahabad high court earlier this year. In April, the court directed the authority to place the issue before its Board and communicate a decision within four weeks. This April, Max Estates offered to deposit ₹ 22 crore in a separate interest-bearing account. However, after examining the matter, the authority's Board on June 14 ruled that the full CIC charges of ₹ 67 crore would remain payable. Max Estates has already deposited the first instalment of ₹ 135 crore under the ₹ 613 crore settlement. The project, which has faced years of delays affecting hundreds of homebuyers, now depends on the developer completing payments and following the resolution plan. The authority has also granted a three-year free extension to finish the project. Max Estate refused to comment on the matter as the case is sub judice. The Noida authority board said that they can allow waiver if the court will issue an order in this regard, waiving off the charges. The Max Estate had sought waiver on the ground that the transfer of the company from one to another is not 'business as usual' and company was taken over in insolvency benefiting the home-buyers and investors to revive the insolvent realty firm.
