NEW DELHI: Max Estates, the real estate arm of the Max Group informed that NDTV has leased about 1,28,000 sq ft space at Max Square in Noida.
The building will also house Skootr, which has leased approximately 103,000 sq ft of super built up area. Total leasable area for the project is about 0.7 million sq ft. New York Life Insurance Company is a 49% partner in the project.
With this, Max Square has transacted (LOI Included) 50 per cent of the office space including 100 per cent of the retail/F&B is committed. The company expects to achieve 100 per cent leasing over next 6-12 months.
The company has also pre-leased 54% of the office space at Max House – Phase II. It is expected to be complete in Q3 FY24. Max House Phase 2 is an extension of Max House Phase 1, with a larger leasable area of ~0.15 million sq ft
Lease rental income from Max Towers stood at Rs 18.2 crore, from Max Square stood at Rs 1.6 crore and from Max House Phase 1 stood at Rs 7 crore in H1 FY24.
Max Estates’ net consolidated total income stood at Rs 27.78 crore in Q2 FY24, a dip of 16.75 per cent from Rs 33.37 crore it recorded in the similar quarter last year.
The company had recently concluded the reverse merger of Max Ventures and Industries (MVIL) into Max Estates (MEL). MVIL will be amalgamated and all the assets and liabilities of MVIL will vest with MEL.MEL’s consolidated revenue stood at Rs 38.8 crore, EBITDA stood at Rs 3.7 crore and loss after tax stood at Rs 42.9 crore in H1 FY24. Max Asset Services’ revenue stood at Rs 13.5 crore in H1 FY24.
