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Max Estates Gains By 27% In 3 Days, Signs Mega Development Deal

Max Estates’ stock soars 27% on Rs.388 Cr New York Life Investment; Gurugram project to expand the portfolio to 12m sq ft, brightening prospects.

Max Estates Ltd is the real estate development division of the Max Group, a prominent player in the Delhi-NCR real estate market. It has separated from Max Ventures and Industries and is now independently listed as its entity.

Jump in share price

Max Estates shares surged over 7% on May 3, hitting a new high of Rs.373.90 on NSE, following an 18.4% jump the previous day, resulting in a total rally of over 27% in two sessions. The uptick in stock price can be attributed to two significant deal successes.

Gurugram Deal

The company’s subsidiary, Max Estates Gurgaon Two, finalized an agreement for a residential development project in Gurugram valued at over Rs.9,000 crore. Covering 18.23 acres and featuring a 4 million square feet residential area, this deal bolsters Max Estates’ standing in the real estate sector, contributing to its recent stock price surge. Following the completion of this transaction, Max Estates’ portfolio will expand by 50% from 8 to 12 million square feet of development potential. This growth is well-diversified across various asset classes (commercial office and residential), geographic locations (Noida, Delhi, and Gurugram), and risk levels (completed and under construction).

New York Life Insurance Investment

Additionally, earlier this week, Max Estates disclosed a significant Rs.388 crore strategic investment from New York Life Insurance Company. These funds, as per the company’s regulatory filing, are for expanding its presence in the rising residential market. This injection of capital equips Max Estates with added resources to seize growth prospects in the residential sector, aligning with its expansion plans. The company anticipates leveraging this investment to meet its targeted growth trajectory, aiming to secure a minimum of 2 million square feet of development opportunities annually.

New York Life, holding a 22.67% stake in Max Estates, also possesses a 4% interest in the company’s fresh commercial ventures in the Delhi-NCR region, which include the operational Max Square situated on the Noida Expressway.


Max Estates Ltd’s share price surged over 27% in two sessions following significant deal wins and an Rs.388 crore investment from New York Life Insurance Company. The company’s Gurugram residential project, valued at over Rs.9,000 crore, will expand its portfolio by 50% to 12 million square feet. With the upcoming deals, Max Estates appears poised for promising future growth prospects.

Disclaimer: This post has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.