Max Estates Limited — Important, 24-12-2024: Disclosure of material issue

The Board of Directors at Max Estates has approved material related party transactions. The first involves the acquisition of three floors in Max Towers, Noida, by Max Towers Private Limited from Max India Limited, valued at INR 105.08 crores. This move is aimed at consolidating ownership and enhancing operational control. The transaction will proceed once approved by shareholders.

The second transaction is an additional investment in Acreage Builders Private Limited, a subsidiary of the company. This investment, totaling approximately INR 84 crores, will be shared jointly with New York Life Insurance Company, allowing for the acquisition and development of an extra land parcel in Gurugram. Post-investment, the total project investment will rise to approximately INR 670 crores, improving project access and potential growth. Both transactions signify Max Estates’ strategic focus on expanding its footprint in commercial real estate while optimizing asset control.