Max Estates Secures ₹388 Cr Investment from New York Life
The infusion of funds will predominantly fuel Max Estates' foray into the burgeoning residential market and enable it to capitalize on emerging opportunities. This strategic investment positions Max Estates to pursue its growth agenda, aiming to secure a minimum of 2 million square feet of development opportunities annually, reshaping the landscape of residential and commercial real estate in the National Capital Region (NCR). Max Estates sees New York Life's investment as an endorsement of its ability to execute large-scale projects, thereby contributing to the advancement of real estate in India.
New York Life owns 22.67% share in the listed entity - Max Estates. It also owns 49% stakes in Max Estates’ new commercial projects in Delhi-NCR. It includes Max Square, which is already operational on Noida Expressway in Noida; and two under construction projects Max Square Two located adjacent to Max Square and a project located on main Golf Course Extension Road, Gurugram.
Sahil Vachani, VC & MD of Max Estates said, “We are excited to announce that our ever-growing partnership with New York Life Insurance is even stronger now. This collaboration further strengthens Max Estates' financial capacity to deliver world-class commercial and residential projects in Delhi-NCR and ensures a balanced approach to capital structure to fund company’s growth trajectory. It signifies continued confidence from institutional investors in the growth potential of the company and its ability to unlock significant value for all stakeholders with right market-product combination in the real estate sector in India.’’
