Latest news with #SahilVachani
Time of India
23-05-2025
- Business
- Time of India
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. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Las Pinas Unsold Cars In 2024 Are Almost Donated. See Price SUV Deals | Search Ads Search Now Undo 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. Live Events '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.
Time of India
23-05-2025
- Business
- Time of India
Max Estates posts net profit of ₹13.99 crore in Q4 FY25
NEW DELHI: Max Estates has reported net consolidated profit after tax of ₹13.99 during the quarter ended March 31, 2025. It had registered loss after tax of ₹4.73 in the corresponding quarter of the previous fiscal, the company said in a BSE filing. The company's net consolidated total income stood at ₹77.30 crore in Q4 FY25, a growth of 100.52 per cent from ₹38.55 crore it recorded in the similar quarter last year. Sahil Vachani , vice chairman & MD of the company said, "In FY25, we exceeded our full-year guidance, achieving pre-sales booking value of over ₹5,300 crore. We plan to deliver pre-sales bookings of ₹6,000-6,500 crore in FY26, a 15-20% growth over FY25." Estate 128, Noida (Phase 1 and Phase 2), having booked ₹2,700 crore pre-sales (100% sold) has collected ₹628 crore till date. Estate 360, Gurugram, recorded a pre-sales booking value of ₹4,428 crore with 92% of the project sold. This project has already received a collection of ₹807 crore as of March 2025. Max Estates' joint development on a land parcel of 18.23 acres, having a development potential of four million sq ft and a gross development value (GDV) potential of ₹9,000 crore, is planned to be launched in Q2 FY26. The company has a launch pipeline of over seven million sq ft with GDV potential of over ₹14,000 crore to be delivered in FY26 and FY27. The company aspires to add at least two million sq ft in the residential segment every year. It 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. The project spans approximately 2.5 million sq ft of development within the 10-acre land parcel. This project, planned to be launched in Q3 FY26 and has a GDV potential of over ₹2,000 crore as well as annuity income potential of INR 120 crore. New York Life Insurance Company (NYL) recently signed a memorandum of understanding (MOU) committing ₹550 Crore across its two projects - sector 105, Noida project and Delhi One project. Post this investment, NYL's cumulative commitment stands at ₹1,800 crore. The company has acquired 10.33 acre of land in Sector 105 on Noida-Greater Noida Expressway for ₹711 crore with 2.6 million sq ft of development. The project has a GDV potential of over ₹3,000 crore and an annuity rental income potential of ₹140 crore. It has completed the acquisition of the three floors in Max Towers, Noida from Max India at a value of ₹105.08 crore. Overall commercial portfolio is poised for an annuity rental income potential of over ₹700 crore over the next five years. Debt as on March 31, 2025 stood at ₹1,350 crore, including LRDs of ₹852 crore. Max Estates' share of debt is ₹824 crore. Cash & Cash Equivalents as on March 2025 stood at ₹1,785 crore.
Hindustan Times
24-04-2025
- Business
- Hindustan Times
Max Estates takes over stalled Delhi One project in Noida; to invest ₹1,400 crore for completion of the project
Max Estates has taken over the stalled 'Delhi One' project in Noida through the insolvency route and is expected to invest close to ₹1400 crore to revive the project after seven years, the company said in a regulatory filing. The company said in a regulatory filing that it has taken over 'Boulevard Projects Private Limited (BPPL)' to revive Delhi One project in Noida, after a seven years of wait. 'The company is acquiring the Delhi One Project pursuant to a Resolution Plan, and the total capital commitment, including settlement of outstanding liabilities, is estimated to be ₹1,400 crores," the company said. This strategic acquisition offers a significant development potential of approximately 2.5 million square feet, inclusive of already sold units. The project is expected to generate a total sales potential of approximately ₹2,000 crores, along with an annuity rental income potential of around ₹120 crores, it said. The acquisition is in line with the company's strategy to expand its real estate portfolio, specifically for the development of the Delhi One mixed land use project under BPPL in Sector 16B, Noida . The business is within the main line of business of the company, it said. Max Estates said it has successfully completed the acquisition of 100 per cent equity share capital of Boulevard Projects Pvt Ltd by way of allotment of 34,000 fresh equity shares to the company and its nominees, effective April 23, 2025, it said. Max Estates had received final approval from NCLT and NCLAT on February 2023 and October 2024, respectively, it said. Delhi One is an integrated mixed-use development that will host ultra-luxury serviced residences, premium office spaces, curated retail and an exclusive club. Max Estates Limited (Max Estates), a real estate developer in the NCR, has received the final approval from the National Company Law Tribunal (NCLT) and National Company Law Appellate Tribunal (NCLAT) in February 2023 and October 2024 and now with the successful closure, Max Estates has taken over the Delhi One Project, the company said in a statement The project is located 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 mn sq. ft. of development, part of around 10-acre land parcel constituting around 34,696 sq m area. '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. We look forward to bringing to life our first integrated campus, weaving Max Estates' philosophy of LiveWell, WorkWell, PlayWell, and EatWell into a holistic downtown experience,' said Sahil Vachani, vice chairman and managing director, Max Estates.
Business Standard
24-04-2025
- Business
- Business Standard
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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Business Standard
24-04-2025
- Business
- Business Standard
After 7-yr delay, Max Estates takes over and revives Delhi One in Noida
After seven long years of uncertainty, homebuyers can finally breathe a sigh of relief. Max Estates Limited has officially taken over Boulevard Projects Private Limited (BPPL)—the entity behind the stalled Delhi One project in Noida. This move marks a major turning point in NCR's real estate recovery, especially for those who invested in what was once seen as a dream address. What is Delhi One? The Delhi One project was originally launched in January 2014 by Boulevard Projects Private Limited (BPPL), a Special Purpose Vehicle (SPV) owned by the promoters of the 3C Group. Situated in Sector 16B, Noida, adjacent to the Delhi-Noida-Direct (DND) Flyway, the project was envisioned as a premium mixed-use development. However, the project encountered significant delays due to financial challenges faced by the developers, leading to its stalling and subsequent insolvency proceedings. In February 2023, the National Company Law Tribunal (NCLT) approved Max Estates' resolution plan to acquire the Delhi One project through insolvency proceedings. This decision came after a Committee of Creditors (CoC) had approved Max's plan in 2019. The resolution plan was aimed at reviving the stalled project and addressing the concerns of approximately 288 allottees who had invested in the project . Upon acquiring the project, Max Estates engaged with the Noida Authority to settle outstanding dues associated with the land. Initially, the Authority had claimed dues amounting to Rs 932 crore. Through negotiations, Max Estates proposed a settlement of Rs 542 crore, which the Authority accepted. Including interest, the total amount to be paid over three years was Rs 613 crore, with a 25% upfront payment . Project Scope and Development Potential The Delhi One project spans approximately 12.5 acres and offers Max Estates the opportunity to develop 2.5–3 million square feet of new space. Once completed, the project will feature: Ultra-luxury serviced residences Premium office spaces High-street retail An exclusive members-only club It's not just a residential complex—Delhi One aims to be a mini urban city where people can live, work, shop, and socialize in one connected ecosystem. The Numbers Behind the Project Development potential: 2.5 million square feet (includes previously sold inventory) Total sales potential: Over Rs 2,000 crore Estimated annual rental income (annuity): Rs 120+ crore Regulatory Green Lights Max Estates received: Final approval from the National Company Law Tribunal (NCLT) in February 2023 Clearance from the National Company Law Appellate Tribunal (NCLAT) in October 2024 These approvals allowed Max Estates to legally and officially take control of the project and proceed with the revival plan. 'This is more than just a real estate project. It's about creating a downtown lifestyle where people can live, work, play, and thrive,' said Sahil Vachani, Vice Chairman and Managing Director of Max Estates. 'We are excited to bring our LiveWell, WorkWell, PlayWell, and EatWell philosophy to life through this integrated development.' The new vision for Delhi One centers around wellbeing and sustainability. With green building techniques, energy-efficient systems, and biophilic design, the project will foster a deeper connection between people and their environment. Every space, from residential to commercial, will be designed to offer natural light, customizable layouts, and high-performance infrastructure. What's Coming at Delhi One Ultra-Luxury Residences: Spacious, light-filled, and customizable homes designed for modern living. Premium Office Spaces: Flexible layouts with cutting-edge tech and collaborative work zones. Curated Retail Street: Handpicked boutique experiences and dining options.
