Max Estates plans to utilise the Rs 800 crore raised through a qualified institutional placement (QIP) to acquire land in Noida and Gurugram. It would include the development of one million sq. ft. of commercial space and two million sq. ft. of residential space annually.

In the first half of the current financial year, the company secured seven million sq. ft. of Rs 11,300 crore development opportunities, more than double its guidance of three million sq. ft. per year. The company has revised its FY25 guidance for booking value to Rs 4,800-5,200 crore, a raise from the earlier guidance of Rs 4,000 crore.

Max Estates has also received NCLAT approval for the ‘Delhi One’ project in Sector-16B, Noida, covering 34,697 sq. mtrs. with a mixed-use development potential of 2.5 million sq. ft. Additionally, it has secured enhanced floor area ratio (FAR) for the fourth tower at its Estate 128 (Noida) development, with a GDV potential of Rs 800 crore.

The project is set to launch in Q3/FY25 following all necessary approvals.