Max Square Welcomes NDTV with 128,000 Sq Ft Lease in Noida


    Share post:

    Max Estates, the real estate subsidiary of the Max Group, has reported a significant milestone with the leasing of 128,000 square feet at Max Square in Noida by NDTV. Skootr has also secured a notable 103,000 square feet in the same location. The total leasable area for the project now stands at an impressive 0.7 million square feet, positioning Max Square as a prominent player in the Noida commercial real estate market.

    Strategic Partnerships Drive Growth

    New York Life Insurance Company holds a substantial 49% partnership stake in this project, highlighting the strategic collaboration that contributes to the financial robustness of Max Square.

    Transactional Progress and Leasing Projections

    Max Square, including a Letter of Intent (LOI), has successfully transacted 50% of its office space, with a complete commitment of 100% in the retail/food and beverage segment. The company aims to achieve full leasing saturation within the next 6-12 months.

    Expansion Plans with Max House – Phase II

    Concurrently, Max Estates has made significant strides with the pre-leasing of 54% of the office space at Max House – Phase II, expected to conclude in Q3 FY24. This phase, an extension of Max House Phase I, boasts a larger leasable area of approximately 0.15 million square feet, diversifying Max Estates’ commercial real estate portfolio.

    Financial Performance Highlights

    In H1 FY24, Max Estates demonstrated robust financial performance. Lease rental income from key properties, including Max Towers, Max Square, and Max House Phase 1, stood at Rs 18.2 crore, Rs 1.6 crore, and Rs 7 crore, respectively. The reverse merger of Max Ventures and Industries into Max Estates has streamlined operations, with consolidated revenue reaching Rs 38.8 crore, EBITDA at Rs 3.7 crore, and a loss after tax at Rs 42.9 crore.

    Outlook and Future Plans

    The successful amalgamation of Max Ventures and Industries into Max Estates positions the company for sustained growth. The leasing milestones at Max Square and developments at Max House Phase II underscore Max Estates’ commitment to creating dynamic, high-quality commercial spaces.

    So, Max Square stands out as a key commercial hub in Noida, driven by strategic partnerships, leasing successes, and a solid financial foundation. Ongoing expansion, particularly with Max House Phase II, reinforces Max Estates’ position in the dynamic Noida real estate market.

    Also Read: Max Estates to invest Rs 3,400-crore in residential, commercial projects in Noida, Gurugram


    Please enter your comment!
    Please enter your name here

    Related Posts

    Latest posts

    Ghaziabad Indirapuram Handover: Progress Update and Prospects for End-July Transition

    GHAZIABAD, India — Officials from the Ghaziabad Development Authority (GDA) have hinted at the imminent handover of the...

    Yeida to Implement New Land Allotment Guidelines Following M3M Dispute

    NOIDA, India — The Yamuna Expressway Industrial Development Authority (Yeida) plans to introduce new guidelines for land allotment,...

    Real Estate Sector Pins Hopes on Modi 3.0: Focus on Infra Development and Affordable Housing

    NEW DELHI — The real estate sector is optimistic that Prime Minister Narendra Modi's third term will bring...

    Suraksha Group to Pay YEIDA in Jaypee Infratech Acquisition

    India (June 11, 2024), a Mumbai-based real estate conglomerate — The Suraksha Group has taken control of debt-laden...