Max Estates Limited has informed the Exchange regarding a press release dated April 23, 2025, titled "Max Estates takes over Delhi One project in Noida, under the aegis of IBC, adding sales potential of INR 2,000 Crore and Annuity Rental of INR 120 Crore".
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Max Estates Limited has taken over the Delhi One project located in Noida through the IBC route, as mentioned in a press release dated April 23, 2025. The acquisition adds a sales potential of INR 2,000 Crore to the company's portfolio. Additionally, the project is expected to generate an annuity rental income of INR 120 Crore. The takeover was completed under the Insolvency and Bankruptcy Code framework, suggesting it was acquired as part of a resolution process for a stressed asset.
This is a significant positive development for Max Estates shareholders, as it adds sizeable revenue and recurring rental income to the company's pipeline. Acquiring a project through IBC typically allows buyers to acquire assets at favorable valuations, which could enhance future margins and overall asset base.