Shares of Max Estates Limited increased by more than 3% to Rs 627.90 on 30 September after the company announced robust pre-sales for its Gurugram property, Estate 360. 

The real estate developer exceeded its FY25 projection of Rs 4,000 crore with a pre-sales booking value of almost Rs 4,100 crore.

According to a regulatory filing made earlier today, Max Estates revised its gross development value target for Estate 360 to Rs 4,800 crore for FY25 after the company received Rs 400 crore from the project.

The strong reaction followed the company’s launch of its residential project in August 2024, which was the company’s maiden venture into the Gurugram market. Having successfully launched Estate 128 in Noida, this success solidifies Max Estates’ position in the NCR real estate market.

The first large-scale multigenerational residential community in Delhi NCR, Estate 360, was created by the renowned international architecture and design firm Gensler. Its planned design, natural landscape, and communal areas have over 60 amenities that serve a variety of age groups, cultures, and lifestyles and are intended to foster interpersonal relationships. A thorough understanding of the needs of different generations informs the design.

The launch reinforced Max Estates’ decision earlier this year to increase its footprint in the area by using a Joint Development Agreement (JDA) to purchase an additional 18.23 acres of property next to the current development. 

Currently in the design stage, the project is expected to be implemented in phases beginning in the upcoming fiscal year. It has a gross development value of about Rs 9,000 crore and an overall development potential of over 4 million square feet.

At 2:52 pm, the shares of Max Estates were trading 1.60% higher at Rs 617 on NSE. 

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