Max Estates Launches First Residential Project, Estate 360, in Gurugram

Key Takeaways from Max Estates Launch of Estate 360 in Gurugram:

• Estate 360 was launched in Gurugram on August 27, 2024, after receiving RERA registration on August 16, 2024.
• In the first 30 days, Estate 360 secured pre-sales bookings of approximately Rs 4,100 Crore, exceeding the initial target of Rs 4,000 Crore for FY 25.
• The project has already collected around Rs 400 Crore.
• Due to strong sales performance, the gross development value for Estate 360 has been updated to approximately Rs 4,800 Crore for FY 25.

In the first 30 days, Estate 360 achieved pre-sales bookings of approximately Rs 4,100 Crore, exceeding the company’s initial target of Rs 4,000 Crore for FY 25. The project has already collected around INRrs 400 Crore. Due to this strong performance, Max Estates has updated its guidance for the gross development value of Estate 360 to about Rs 4,800 Crore for the fiscal year.

Commenting on this development, Sahil Vachani, MD & Vice Chairman of Max Estates said, “As we look forward to introducing new LiveWell experiences, our primary focus remains on the execution of multiple projects and to scale the portfolio by adding ~3 mn square feet every year.“  

Rishi Raj, COO of Max Estates said, “The successful launch of Estate 360, located in Sector 36A, Dwarka Expressway, Gurugram, has further reinforced Max Estates’ decision to consolidate its presence in this sector by acquiring additional 18.23 acres of land contiguous to current development, earlier this year, through a Joint Development Model (JDA) model. The project is under design and will be launched in phases starting next financial year, with overall development potential of ~4 mn square feet and Gross Development Value potential of ~INR 9,000 Crore.”

About Max Estates Limited:

Established in 2016, Max Estates Limited is the real estate arm of the Max Group, focused on ‘Enhancing Quality of Life through spaces it creates.’ The company has developed a diverse portfolio in Delhi NCR, including premium commercial and residential spaces. Notable projects include Max Towers, Max House, Max Square, and 222 Rajpur.

Max Estates is also engaged in the commercial office segment, with two under-construction projects: Max Square Two and a project on Golf Course Extension Road. Following its successful launch of Estate 128 in Noida, the company aims to continue expanding its residential offerings. Max Estates Limited is listed on both NSE and BSE.

About Estate 360: 

Estate 360 is Delhi NCR's first large intergenerational residential community, designed by Gensler, a top global architecture firm. It focuses on understanding the needs of different generations and aims to connect people through thoughtful design, natural landscapes, and shared spaces. The community features over 60 amenities that cater to various age groups, cultures, and lifestyles.

Key Takeaways from Tata Motors GroundBreaking Ceremony:

• Tata Motors Group has launched the construction of a manufacturing facility in Panapakkam, Ranipet district, focusing on next-generation cars and SUVs for Tata Motors and Jaguar Land Rover (JLR).
• The company plans to invest around Rs 9,000 crores in the project, which is designed to produce over 250,000 vehicles annually.
• The new facility is expected to create more than 5,000 jobs, both directly and indirectly, while also enhancing local community skills.
• The plant will operate using 100% renewable energy, aligning with sustainable manufacturing practices.

Tata Motors plans to invest approximately Rs 9,000 crores in this greenfield project, which is designed to produce over 250,000 vehicles annually. Production is set to begin in phases over the next 5 to 7 years, gradually reaching full capacity.

N Chandrasekaran, Chairman of Tata Sons said, “We now intend to build our advanced vehicle manufacturing plant here using cutting-edge manufacturing technology and world-class sustainability practices. We will endeavour to have a high share of women employees across levels, in line with our focus towards greater empowerment of women.” 

The new facility is expected to create over 5,000 jobs, both directly and indirectly, and aims to enhance skills in the local community. Additionally, the plant will operate sustainably, using 100% renewable energy.

About Tata Motors Limited:

Tata Motors Limited, part of the USD 165 billion Tata Group, is a prominent global automobile manufacturer with a valuation of USD 44 billion. The company produces a wide range of vehicles, including cars, utility vehicles, trucks, and buses, and is a leader in India’s commercial vehicle market while ranking among the top three in passenger vehicles. With the brand promise of ‘Connecting Aspirations,’ Tata Motors focuses on innovative design and advanced research and development, maintaining centres in India, the UK, the US, Italy, and South Korea.

The company is at the forefront of India's Electric Vehicle (EV) transition, committed to sustainable mobility solutions. Tata Motors emphasizes engineering and tech-driven automotive solutions tailored to future mobility needs. With a strong market presence in regions including the UK, South Korea, and Southeast Asia, Tata Motors operates numerous subsidiaries, joint ventures, and associates, allowing it to effectively market its vehicles across Africa, the Middle East, Latin America, and beyond.

Key Takeaways from the Acquisition

• Adani Power acquires OTEPL as a wholly-owned subsidiary through the purchase of 10,000 equity shares.
• The acquisition aims to leverage OTEPL’s land for infrastructure development.
• The deal involves a cash transaction, and OTEPL's turnover has steadily decreased over the past three fiscal years.

Adani Power Limited (APL) has acquired Orissa Thermal Energy Private Limited (OTEPL), previously known as Padmaprabhu Commodity Trading Private Limited, by purchasing all 10,000 of its equity shares, each valued at Rs. 10. It was incorporated in July 2020 and is involved in commodity trading. Following this acquisition, OTEPL has become a wholly owned subsidiary of Adani Power. 

As mentioned in a stock exchange filing, over the last three financial years, OTEPL recorded a turnover of Rs. 28,172.58 lakhs in FY22, Rs. 13,686.87 lakh in FY23, and Rs. 7,412.31 lakh in FY24. The acquisition is not considered a related party transaction, as neither OTEPL nor its shareholders are connected to Adani Power. This move allows Adani Power to utilise OTEPL’s land to expand its infrastructure and capacity.

About Adani Power Limited

Adani Power Limited, one of the Adani Group subsidiaries, is an Indian multinational power and energy company based in Khodiyar, Ahmedabad. It is the largest private power generator in India with a capacity of 15,250 MW and has a 40 MW solar plant in Naliya, Bitta, Kutch, Gujarat. The Adani Godda Power plant, with an installed capacity of 1,600 MW, is being constructed in Jharkhand. The company has signed long-term power purchase agreements for about 9,153 MW with the governments of Gujarat, Maharashtra, Haryana, Rajasthan, Karnataka, and Punjab.

Key Takeaways from Manaksia Coated Metals Order Win:

• MCMIL is establishing itself in Europe’s competitive market and becoming a preferred supplier to leading clients.
• The new deal will significantly enhance MCMIL’s export revenue and support its strategy to expand into international markets.
• This contract positions MCMIL for future business with high-value European clients, aiming to be a key player in the region's steel supply chain.
• MCMIL is well-equipped to address the growing demand for high-quality coated steel products in Europe, as industries increasingly seek durable, corrosion-resistant materials.

This contract has the potential to evolve into a recurring order, ensuring a steady revenue stream for MCMIL in the coming years. Additionally, it will help the company maximise its production capacity from upcoming upgrades to its Continuous Galvanising Line (CGL), expected to be completed by Q4-FY2025.

Karan Agrawal, Whole Time Director at Manaksia Coated Metals & Industries Limited said, “This contract marks a pivotal moment in MCMIL’s journey toward expanding its global footprint, particularly in the competitive European market and we are honoured to have earned the confidence of a leading European client. As we reinforce our position as a trusted supplier in the competitive European market, the deal highlights our commitment to delivering world-class quality and reliability and comes at a time when we are focused on global expansion.”

About Manaksia Coated Metals & Industries Limited:

Manaksia Coated Metals & Industries Limited (MCMIL) is a top manufacturer and exporter of high-quality coated metal products, including pre-painted and plain galvanised steel in both coil and sheet forms. These products are commonly used in construction, automotive, appliances, and general engineering.

Based in Kutch, Gujarat, MCMIL is located close to major ports, which helps with efficient logistics for both domestic and international shipments. The company operates two manufacturing plants, four branch offices, and five stockyards and service centres across India, focusing on delivering excellent products to meet customer needs. Known for its innovation, quality, and customer-focused approach, MCMIL is committed to driving growth and providing value-added steel products that meet global market demands.