Latest news with #DelhiOneProject
Hindustan Times
24-04-2025
- Business
- Hindustan Times
Max Estates takes over stalled Delhi One project in Noida; to invest ₹1,400 crore for completion of the project
Max Estates has taken over the stalled 'Delhi One' project in Noida through the insolvency route and is expected to invest close to ₹1400 crore to revive the project after seven years, the company said in a regulatory filing. The company said in a regulatory filing that it has taken over 'Boulevard Projects Private Limited (BPPL)' to revive Delhi One project in Noida, after a seven years of wait. 'The company is acquiring the Delhi One Project pursuant to a Resolution Plan, and the total capital commitment, including settlement of outstanding liabilities, is estimated to be ₹1,400 crores," the company said. This strategic acquisition offers a significant development potential of approximately 2.5 million square feet, inclusive of already sold units. The project is expected to generate a total sales potential of approximately ₹2,000 crores, along with an annuity rental income potential of around ₹120 crores, it said. The acquisition is in line with the company's strategy to expand its real estate portfolio, specifically for the development of the Delhi One mixed land use project under BPPL in Sector 16B, Noida . The business is within the main line of business of the company, it said. Max Estates said it has successfully completed the acquisition of 100 per cent equity share capital of Boulevard Projects Pvt Ltd by way of allotment of 34,000 fresh equity shares to the company and its nominees, effective April 23, 2025, it said. Max Estates had received final approval from NCLT and NCLAT on February 2023 and October 2024, respectively, it said. Delhi One is an integrated mixed-use development that will host ultra-luxury serviced residences, premium office spaces, curated retail and an exclusive club. Max Estates Limited (Max Estates), a real estate developer in the NCR, has received the final approval from the National Company Law Tribunal (NCLT) and National Company Law Appellate Tribunal (NCLAT) in February 2023 and October 2024 and now with the successful closure, Max Estates has taken over the Delhi One Project, the company said in a statement The project is located at the edge of South Delhi and directly connected via the Delhi-Noida-Direct (DND) Flyway, the development is just steps from key metro stations, benefitting from unparalleled connectivity across Delhi NCR. The project spans approximately 2.5 mn sq. ft. of development, part of around 10-acre land parcel constituting around 34,696 sq m area. 'We are delighted to announce that Max Estates has taken over Delhi One. We believe that we will provide a world class real estate experience to the residents and office goers of the NCR. We look forward to bringing to life our first integrated campus, weaving Max Estates' philosophy of LiveWell, WorkWell, PlayWell, and EatWell into a holistic downtown experience,' said Sahil Vachani, vice chairman and managing director, Max Estates.
Business Standard
24-04-2025
- Business
- Business Standard
Max Estates rises after taking over Noida-based 'Delhi One' project
Max Estates added 3.57% to Rs 431.15 after the company stated that it has taken over the Delhi One Project, following the receipt of final approval from the National Company Law Tribunal (NCLT) and National Company Law Appellate Tribunal (NCLAT). "This marks a significant turnaround for the long-stalled site, bringing relief to homebuyers and unlocking fresh momentum for NCRs most strategically located integrated campus, the company said. The development of the Delhi One project will consolidate Max Estates position as a leading premium real estate developer in Noida and NCR. The development will host ultra-luxury residences, premium office spaces, curated high street retail and exclusive club facilities. Situated at the edge of South Delhi and directly connected via the Delhi-Noida-Direct (DND) Flyway, the development is just steps from key metro stations, benefitting from unparalleled connectivity across Delhi NCR. The project spans approximately 2.5 million square feet of development part of around 10 acre land parcel constituting approximately 34,696 square meters of area. Sahil Vachani, vice chairman and managing director, Max Estates, said: We are delighted to announce that Max Estates has taken over Delhi One. We believe that we will provide a world class real estate experience to the residents and office goers of the NCR. Max Estates is the real estate arm of the Max Group. The company develops premium commercial and residential spaces in Delhi NCR. The company has developed a very well diversified portfolio of real estate across the two asset classes in Delhi NCR and in this pursuit has partnered with New York Life Insurance Company (NYL) particularly for commercial office platform. The company had reported a consolidated net profit of Rs 19.75 crore in the quarter ended December 2024 as against net loss of Rs 3.14 crore during the previous quarter ended December 2023. Sales rose 65.66% to Rs 40.04 crore in Q3 FY25 as compared with Q3 FY24.
Business Standard
24-04-2025
- Business
- Business Standard
Max Estates takes over long-stalled Delhi One project in Noida
With estimated sales of Rs 2,000 cr and potential annuity rental income of Rs 120 cr Max Estates had received the final approval from the National Company Law Tribunal (NCLT) and National Company Law Appellate Tribunal (NCLAT) and now with the successful closure, Max Estates has taken over the Delhi One Project. This marks a significant turnaround for the long-stalled site, bringing relief to homebuyers and unlocking fresh momentum for NCR's most strategically located integrated campus. The development of the Delhi One project will consolidate Max Estates' position as a leading premium real estate developer in Noida and NCR. Max Estates will bring its experience and expertise in premium commercial real estate and high end residential real estate to create a state-of-the-art integrated development that will seamlessly host ultra-luxury residences, premium office spaces, curated high street retail and exclusive club facilities. Situated at the edge of South Delhi and directly connected via the Delhi-Noida-Direct (DND) Flyway, the development is just steps from key metro stations, benefitting from unparalleled connectivity across Delhi NCR. The project spans approximately 2.5 mn sq. ft. of development part of around 10 acre land parcel constituting ~34,696 sq. mt. of area. The total sales and annuity rental income potential of the project is estimated at Rs 2,000+ crore and Rs 120+ crore respectively.
&w=3840&q=100)
Business Standard
24-04-2025
- Business
- Business Standard
Max Estates acquires stalled 'Delhi One' project, to invest ₹1,400 crore
Realty firm Max Estates Ltd on Thursday announced it has taken over the stalled 'Delhi One' project in Noida through the insolvency process and will invest ₹1,400 crore to develop this mixed-use a regulatory filing on Thursday, Max Estates said it has taken over Boulevard Projects Pvt Ltd to revive Delhi One project in Noida, after 7 long years of Estates said it has successfully completed the acquisition of 100 per cent equity share capital of Boulevard Projects Pvt Ltd by way of allotment of 34,000 fresh equity shares to the company and its nominees, effective April 23, 2025. ALSO READ: Focused on becoming clear number 2 brand in NCR: Max Estates' Sahil VachaniThe project is an integrated mixed-use development that will have ultra-luxury serviced residences, premium office spaces, and retail Estates had received final approval from NCLT and NCLAT on February 2023 and October 2024, respectively."The company is acquiring the Delhi One Project pursuant to a Resolution Plan, and the total capital commitment, including settlement of outstanding liabilities, is estimated to be ₹1,400 crore," Max Estates strategic acquisition offers a significant development potential of about 2.5 million square feet, inclusive of already sold units."The project is expected to generate a total sales potential of approximately Rs 2,000 crore, along with an annuity rental income potential of around ₹120 crore," Max Estates company said the acquisition of this stalled project is in line with its strategy to expand real estate Estates has developed a few office complexes in Delhi-NCR and has entered the residential segment as well.
Time of India
24-04-2025
- Business
- Time of India
Max Estates takes over Delhi One project in Noida
NEW DELHI: Max Estates has taken over the Delhi One Project in Noida . This is expected to bring relief to homebuyers of Boulevard Projects (BPPL) as the company looks to revive Delhi One project in Noida, after seven long years of wait. The project spans approximately 2.5 million sq ft of development part of around 10-acre land parcel constituting 34,696 sq meters of area. The total sales and annuity rental income potential of the project is estimated to be over ₹2,000 crore and over ₹120 crore respectively. The company had received final approval from the National Company Law Tribunal (NCLT) and National Company Law Appellate Tribunal (NCLAT) on February 2023 and October 2024 respectively. Delhi One is an integrated mixed-use development that will host serviced residences, office spaces, retail spaces and a club.
