Max Estates pipeline value to exceed ₹29,000 crore with new projects
The real estate developer expects growth through a West Delhi acquisition and a Ghaziabad joint development project.
Max Estates expects its gross pipeline value to surpass ₹29,000 crore following a proposed acquisition in West Delhi and a joint development in Ghaziabad, according to a Business Standard report on Wednesday.
The company plans to acquire 84.71 acres in West Delhi, which has a potential gross development value (GDV) of ₹10,000-12,000 crore. Additionally, a 9.76-acre joint development in Ghaziabad is projected to yield a GDV of ₹2,500-3,000 crore.
For the September quarter (Q2FY27), the developer reported pre-sales of ₹2,092 crore, which is nearly 14 times the figure from the previous year. This brings the total pre-sales for the first half of the year to ₹3,184 crore.
Sahil Vachani, vice-chairman and managing director of Max Estates, said the company remains focused on disciplined execution and sustainable growth, noting that collections doubled year-on-year and the commercial portfolio maintained 100 per cent occupancy.
The company's consolidated net profit for the September quarter fell 40 per cent year-on-year to ₹4.68 crore from ₹7.81 crore in the same period last year. However, revenue from operations rose 8.2 per cent to ₹52.76 crore during the quarter.
For the first half of FY27, consolidated net profit declined 34 per cent year-on-year to ₹13.03 crore. During this six-month period, revenue from operations increased 4.4 per cent to ₹104.68 crore.