New York Life Insurance Company to invest Rs 550 crore across two projects of Max Estates in Noida
New York Life Insurance Company
(NYL) has signed an MOU committing Rs 550 crore across two projects of
Max Estates
in Noida, according to regulatory filing by the company.
Post this investment, NYL's cumulative commitment stands at Rs 1,800 crore.
Max Estates has delivered pre-sales bookings of over Rs 5300 crore in FY25, surpassing its full year guidance and a 300% growth over FY24.
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It plans to deliver pre-sales of Rs 6,000-6500 crore in FY26, a 15-20% growth over FY25 and has a pipeline of over 7 million sq ft with gross development value of Rs 14,000 crore, to be launched in FY26 and FY27.
Company's commercial portfolio is poised for an annuity rental income potential of over Rs 700 crore over the next 5 years.
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'The real estate market in Delhi NCR is poised for robust and sustained growth with large-scale infrastructure enhancements accelerating urbanization and significantly boosting the region's attractiveness as a premier hub for both residential and commercial experiences.
We are confident that both housing and office space demand will remain strong,' said Sahil Vachani, Vice Chairman & MD of Max Estates.
Max Estates has received the final approval from the National Company Law Tribunal (NCLT) and National Company Law Appellate Tribunal (NCLAT) for revival of the 'Delhi One' project in Sector 16B, Noida which is to be designed as a luxury mixed-use development.
The project spans approximately 2.5 million sq ft of development within the 10-acre land parcel (constituting 34,696 sq. mt. area). This project, planned to be launched in Q3 FY26, has a Gross Development Value (GDV) potential of Rs 2,000 crore as well as annuity income potential of Rs 120 crore.
Max Estates has acquired 10.33 acre of prime land in Sector 105 on Noida-Greater Noida Expressway for Rs 711 crore with 2.6 mn sq. ft. with a mix of Residential and Commercial in a 40:60 ratio. The project has a Gross Development Value (GDV) potential of Rs 3,000 crore and an annuity rental Income potential of Rs crore.
Max Estates has completed the acquisition of the three floors in Max Towers, Noida from
Max India Limited
at a value of Rs 105.08 crore. The said acquisition will support the company's strategy to consolidate ownership in Max Towers.
Company's debt as on March 2025 stood at Rs 1,350 crore, including LRDs of Rs 852 crore.
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