Max Estates Limited — Important, 27-03-2025: Updates

The Board of Directors of Max Estates Limited has approved the appointment of Ms. Ira Gupta as an Additional Director (Non-Executive Independent Director) for a term of five years, pending shareholder approval. Additionally, the board has accepted a request from Ms. Neelu Analjit Singh, a promoter, to reclassify her status to 'Public' following the dissolution of her marriage to Mr. Analjit Singh, ensuring he maintains control of the company.

Noteworthy developments include two binding Memoranda of Understanding (MoUs) with New York Life Insurance Company (NYL). One MoU relates to a joint investment in Max Estates Noida Private Limited, targeting approximately ₹2,930 million from NYL and ₹3,334 million from Max Estates via compulsorily convertible debentures for the development of a project in Noida. The second MoU involves a proposed investment in Boulevard Projects Private Limited, which aims to develop a commercial plot under the 'Delhi One' project, with NYL committing around ₹2,570 million and Max Estates ₹2,675 million in CCDs. These strategic partnerships position Max Estates for considerable growth, and investors should monitor their execution and impact on future revenue streams.