Max Estate nets Rs 4,100 crore in pre-sales from maiden Gurugram project

Max Estates Limited, the real estate arm of Analjit Singh's Max Group, said on Monday it had recorded a pre-sales booking value of Rs 4,100 crore from its maiden luxury residential project in Gurugram.

The company said it has revised its Gross Development Value (GDV) guidance for the project from Rs 4,000 crore to Rs 4,800 crore for FY25.

The project Estate 360 was launched on August 27 this year and is located on the Dwarka Expressway in Sector 36A, Gurugram.

Sahil Vachani, vice-chairman and managing director of Max Estates, said the company would expand its portfolio by 3 million square feet every year.

"The successful launch of Estate 360, located in Sector 36A, Dwarka Expressway, Gurugram, has further reinforced Max Estates' decision to consolidate its presence in this sector by acquiring an additional 18.23 acres of land contiguous to current development, earlier this year, through a Joint Development Model (JDA) model," said Rishi Raj, Chief Operating Officer, Max Estates.

"The project is under design and will be launched in phases starting next financial year, with overall development potential of 4 million square feet and Gross Development Value potential of Rs 9,000 crore," he said.

Last year, the company's first luxury project in the region, Estate 128 in Noida, garnered a similar interest from buyers. It had received pre-sales bookings worth Rs 1,800 crore.

Since Estate 360 will also have two residences dedicated to Antara Senior Living, the group's senior care arm, the company is calling it an "intergenerational living community" project.

Following the announcement, Max Estates' shares were trading in the green at Rs 615.7 apiece on the BSE as of 10 AM on Monday.