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Max Group Upping its Ante in Senior Living

Torbit - June 09, 2024 - - 0 |

Max Estates, the real estate arm of the Max Group is scaling up its residential portfolio with senior living playing a significant role, especially as the big demand-supply gap in this niche segment offers a big opportunity. The company which launched and fully sold its first residential project- Estate 128 in Noida last year, aims to double up its pre-sales revenue of Rs 4000 crore in FY 25, compared with Rs 1800 crore in FY24. Going forward, it has plans to launch another residential project in FY26.

According to Sahil Vachani, MD, Max Estates is also taking a joint development route to scale up its real estate business. It recently entered into a joint development agreement for a land parcel of over 18 acres, contiguous to its about 12 acres land on Dwarka Expressway, Gurugram acquired joint development route.  The newly acquired land parcel has the revenue potential of Rs 9000 crore. Cumulatively Max Estates is looking at Rs 13000 crore of revenue potential in this micro market, eyeing Rs 5000 crore of pre-sales in a year.

In Max Group’s residential real estate play, senior housing is laying a strong foundation for growth. The group, which already has a project each in Dehradun and Noida, is now scaling up its portfolio in this vertical. The company is all set to launch National Capital Region’s first intergenerational residential development in July this year. For this  Max Estates has tied up with Max Group subsidiary – Antara Senior Living. Antara has also signed an agreement with a Hyderabad based developer for executing a senior living project. According to Rajit Mehta, CEO & Managing Director of Antara Senior Living, the company has also tied up with a 1 million sq ft project in Bengaluru, in line with its plans to scale up focus on Southern markets for achieving expansion goals.

Meanwhile, the group’s real estate growth plans revolve around both residential and commercial real estate. Max Estates already has an operational commercial project- Max Square in Sector 129 on Noida Expressway. There is one under-construction commercial project – Max Square 2, adjacent to Max Square. In Gurugram, the company is coming up with a commercial project on Golf Course Extension Road. This year, the company also plans to add two rent-generating commercial buildings, one each in Noida and Delhi.

 

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