Max India’s wholly owned subsidiary -- Antara Senior Living’s Joint Venture Company -- Contend Builders has secured a partial Occupancy Certificate (OC) for its senior living community at Sector 150, Noida. This covers 3 towers and 340 units in Phase I. With this development, 340 senior families are set to receive possession of their homes.
This OC unlocks around Rs 150 crore in receivables that were contingent on possession. The total development spans around 12 lakh square feet (1.11 lakh square metres), of which Phase I accounts for around 7.45 lakh square feet (0.69 lakh square metres) and Phase II for the remaining 4.55 lakh square feet (0.42 lakh square metres). Total revenue for Phase I stands at around Rs 550 crore, while Phase II is expected to generate around Rs 800 crore. With Phase I on the path to possession, the Contend Builders will actively pursue the revalidation of approvals for Phase II.
Max India is now the holding company of Max Group’s Senior Care business ‘Antara’, and a skilling company ‘Max Skill First’.
