Max Estates has entered into Share Purchase Agreement to acquire the entire ownership interest, in promoter-owned land-holding companies that together own around 84.71-acre land parcel in West Delhi. These promoter-owned land-holding companies are Trophy Estates, TVP Investments, Hometrail Properties, TR Asset Ventures, Wegmans Business Park, Seven Heaven Buildmart, Vitasta Estates, Trophy Resorts & Guest Houses and Synergy Infracon. Post this transaction, each land-owning company will become a wholly-owned subsidiary of the company. The land parcel has an estimated Gross Development Value (GDV) of around Rs 10,000 to 12,000 crore over next few years.
The acquisition is structured non cash share swap transaction wherein the consideration is discharged entirely through the issue of the company's own equity shares, is subject to shareholder approval and in-principle approval of BSE and the National Stock Exchange of India. Consideration will be discharged through the issue and allotment of around 70 lakh fully paid-up equity shares of face value Rs 10 each at an issue price of Rs 597.50 per share, aggregating up to around Rs 420.2 crore.
The company currently has a residential pipeline of Rs 16,150 crore of GDV from Q2FY27 and it is targeting for next phase of growth in presales and pipeline, a trajectory that requires continuous replenishment of developable land in a market where large, contiguous parcels are increasingly scarce. Delhi in particular offers among the last available sizeable land parcels in the National Capital Territory, most of Delhi's growth land having already been absorbed into the Delhi Development Authority's land-pooling framework or built out.
The transaction also extends the company's residential footprint beyond its existing Noida and Gurugram portfolio into Delhi for the first time, diversifying its geographic base across all three core NCR markets. This land sits at the heart of Delhi's westward urban expansion under Master Plan 2047, an area now benefiting from the Delhi Government and DDA's land-pooling policy and improving physical connectivity via Dwarka, the Gurugram border and IGI Airport.
Max Estates is the real estate arm of the Max Group. The company is mainly engaged in the business of Construction of Buildings carried out on own account basis or on a fee or contract basis i.e. real estate development and letting, sub-letting, leasing, selling and distribution of residential or commercial complex, house, building etc.
| Company Name | CMP |
|---|---|
| Lodha Developers | 1214.40 |
| Dilip Buildcon | 401.15 |
| Sobha | 1259.40 |
| Oberoi Realty | 1875.00 |
| Ahluwalia Contract(I | 599.70 |
| View more.. | |
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