Max Estates, a leading real estate company, has announced that it will use the ₹800 crore raised through a qualified institutional placement (QIP) to acquire land in Noida and Gurugram. The funds will be allocated to expand the company’s commercial and residential portfolio, with plans to develop 1 million square feet of commercial space and 2 million square feet of residential space annually.
In the first half of the current financial year, Max Estates exceeded its development targets, securing 7 million square feet of opportunities, valued at ₹11,300 crore. This figure is more than double the company’s original guidance of 3 million square feet per year, reflecting its aggressive growth strategy.
“We have a strong balance sheet that allows us to scale across our identified geographies,” said Sahil Vachani, Vice Chairman & Managing Director of Max Estates. He added that the company plans to expand its commercial real estate portfolio through a partnership with New York Life Insurance, a long-standing and reliable partner for both the commercial and listed platforms of Max Estates. In addition to land acquisition and development, Max Estates reported impressive pre-sales of ₹4,100 crore during Q2 FY25, securing the third-highest pre-sales among the two dozen listed developers in India. The company’s ability to deliver strong sales figures and manage large-scale projects positions it for continued growth and success in India’s competitive real estate market.
