Max Estates Reports Q2 FY25 Net Loss of Rs 1.38 Crore, Sees Revenue Uptick
Max Estates, a prominent real estate arm of the Max Group, has reported a net consolidated loss of Rs 1.38 crore in the second quarter of FY25. Despite the loss, the company has seen a significant increase in total income, bolstered by several major proje
Max EstatesReal EstateQ2 Fy25Financial PerformanceDelhi OneReal Estate NewsOct 28, 2024
Max Estates has secured several significant projects that are expected to drive future growth. One such project is the 'Delhi One' in Sector 16B, Noida. This project spans an area of 34,697 square meters and offers a mixed-use development potential of 2.5 million square feet. The project, which is slated for launch in FY26, has a gross development value (GDV) potential of over Rs 1,500 crore. It also promises annuity income of Rs 120 crore from leased inventory of 1.2 million square feet and receivables of Rs 500 crore from sold inventory.
Additionally, the company has entered into a joint development agreement for a residential project on 18.23 acres in Gurugram, further solidifying its position in the real estate market. The fourth tower at Estate 128 in Noida has also received approval for enhanced Floor Area Ratio (FAR), which is expected to add a GDV potential of Rs 800 crore. Max Estates plans to launch this project in Q3 of FY25.
Overall, these initiatives have enabled Max Estates to secure a development opportunity of seven million square feet with a GDV of Rs 11,300 crore in the first half of the current financial year. This is more than twice the guidance of three million square feet per year. As a result, the company has revised its booking value guidance for FY25 to Rs 4,800-5,200 crore, up from the earlier guidance of Rs 4,000 crore. Max Asset Services Revenue for FY25 stood at Rs 19 crore, contributing to the company's overall financial performance.
Max Estates continues to focus on strategic investments and development projects to enhance its market share and financial stability in the competitive real estate sector. The company's recent achievements and financial improvements indicate a promising trajectory for the future.
Frequently Asked Questions
What was Max Estates' net loss in Q2 FY25?
Max Estates reported a net consolidated loss of Rs 1.38 crore in Q2 FY25.
How much did Max Estates' total income grow in Q2 FY25 compared to the previous year?
Max Estates' net consolidated total income grew by 89.96% in Q2 FY25, from Rs 27.78 crore to Rs 52.77 crore.
What is the 'Delhi One' project, and what is its potential GDV?
The 'Delhi One' project in Sector 16B, Noida, spans 34,697 square meters and has a mixed-use development potential of 2.5 million square feet. It has a gross development value (GDV) potential of over Rs 1,500 crore.
What are the plans for the fourth tower at Estate 128 in Noida?
The fourth tower at Estate 128 in Noida has received approval for enhanced Floor Area Ratio (FAR) and has a GDV potential of Rs 800 crore. Max Estates plans to launch this project in Q3 of FY25.
What is the revised booking value guidance for Max Estates in FY25?
Max Estates has revised its booking value guidance for FY25 to Rs 4,800-5,200 crore, up from the earlier guidance of Rs 4,000 crore.
Related News Articles
Union Budget 2024-25: Real Estate's Wish List for a Revival
The real estate sector pins hope on the Modi government for tax reliefs and sentiment boosters in the upcoming Union Budget 2024-25.
Bengaluru's Rental Housing Market Sees 5-10% Price Correction in Q2 2024
Real Estate, Education, Cities, Bengaluru's housing sales, rental housing market
Capital Gains Tax Relief for Real Estate: A Game-Changer for Taxpayers
The government has proposed significant relief for taxpayers in terms of capital gains tax on real estate properties, giving them the option of paying a 20% tax rate with indexation or a 12.5% tax rate without indexation.
Understanding the Impact of Capital Gains Tax Changes on Real Estate
The recent change in capital gains tax regime for real estate provides flexibility to property owners and ensures they are not adversely affected by the elimination of indexation benefits.
Rustomjee Group Launches Belle Vie, a Luxury Plotted Development in Kasara
Rustomjee Group forays into plotted development with the launch of Belle Vie, a premium hilltop residential project in Kasara, offering luxury living amidst nature.
Mt. K Kapital Raises Over ₹500 Crore for New Fund, Eyes 25% IRR
Mt. K Kapital announces the raise of over ₹500 crore for its maiden fund, targeting quick turnaround residential projects with low equity investments.