Max Estates stock rose by 27% in 2 sessions after securing a major residential project worth ₹9,000 crore. A recent ₹388 crore investment from New York Life Insurance aims to support the company s expansion in the high-growth residential sector.
Max Estates to Expand Luxury Residential Portfolio Through a Strategic Joint Development Agreement in Gurugram aninews.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from aninews.in Daily Mail and Mail on Sunday newspapers.
Max Estates Share Price | NYL will acquire 49 percent stakes in two SPVs, while rest will be hold by the company, after the transactions are concluded.
New York Life Insurance Co. has invested Rs 388 crore for a 49% equity stake in two commercial projects in Delhi and Noida by Max Estates SPV. This makes New York Life a 49% partner in all commercial projects by Max Estates in Delhi-NCR. The two buildings are Max Tower in Noida and Max House in Okhla, with a total leasable area of around 600,000 sq ft. Max Towers and Max House are operational commercial real estate projects in Noida and Delhi. Max Estates will hold 51% in the two SPVs after the transactions.