Max Estates targets ₹2,200-₹2,400 crore in residential booking value next year
Rishi Raj, the company's Chief Operating Officer said the plan is to add 1.5 to 2 million square foot of gross development value in Delhi NCR every year either through joint development or outright acquisition to deliver on the guidance of 15% growth in booking value year on year.
Delhi-based Max Estates expects residential booking value to increase to ₹2,200 to ₹2,400 crore next year from ₹1,800 crore this year. The broader strategy is to achieve a consistent annual growth rate of 15%.
The company is gearing up to launch its second project in Gurgaon by mid next year. Spanning 2.4 million square feet, the project will be strategically located at the outset of Dwarka Expressway in Sector 36A.
Rishi Raj, Chief Operating Officer (COO) of Max Estates said this venture will be the first intergenerational project at scale in the Delhi NCR region.
Speaking about the company's portfolio in an exclusive chat with CNBC-TV18, Rishi Raj said, "On residential, we are looking forward to acquiring almost 1.5 to 2 million square feet of residential opportunities every year to deliver on our guidance of 15% average growth in booking value year on year."
Detailing the success of Max Estates' first residential project in Noida, Raj explained, "This 10-acre, 1.1 million square feet project in Delhi NCR comprises 201 units and has received an excellent response from the market." The project, focusing on the theme of 'live well,' has resonated with buyers, leading to rapid sales. Construction is already underway and progressing smoothly.
Max Estates stock was introduced at ₹298 on the NSE and ₹270 on the BSE on October 30, following its reverse merger with Max Ventures and Industries Ltd.
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(Edited by : Shweta Mungre)
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