Max Estates shares rise 3% on Rs 4,100-crore pre sales of Estate 360 project

Max Estates share price has gained a massive 98 percent since the start of the year.

Shares of Max Estates Limited surged over 3 percent to Rs 627 in early trade on September 30 following the announcement of strong pre-sales for its Gurugram project, Estate 360. The real estate developer recorded a pre-sales booking value of approximately Rs 4,100 crore, surpassing its FY25 guidance of Rs 4,000 crore.

The company also collected Rs 400 crore from the project, leading Max Estates to revise its gross development value target for Estate 360 to Rs 4,800 crore for FY25, it said in a regulatory filing earlier today.

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The robust response comes shortly after Max Estates launched the residential project in August 2024, marking its first foray into the Gurugram market. The success strengthens Max Estates' position in the NCR real estate space, following the earlier successful launch of Estate 128 in Noida.

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Estate 360 is Delhi NCR’s first intergenerational residential community at scale designed by Gensler, a leading global design and architecture firm. It is designed with a deep understanding of generational needs and endeavours to bring people together through intentional design, natural landscape and shared spaces covering more than 60 amenities catering to different age groups, cultures and lifestyles.

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The launch has further strengthened Max Estates’ decision to expand its presence in the area by acquiring an additional 18.23 acres of land adjacent to the current development earlier this year through a Joint Development Agreement (JDA). The project is currently in the design phase and will be launched in phases starting next financial year, with an overall development potential of around 4 million square feet and a Gross Development Value of approximately Rs 9,000 crore.

At about 9:25 am, shares were trading at Rs 617, higher by 2 percent from the last close on the NSE. Max Estates share price has gained a massive 98 percent since the start of the year.

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