Conference Call with Max Ventures and Industries Management and Analysts on Q4FY22 Performance and Outlook. Listen to the full earnings transcript.
Holding company Max Ventures and Industries declares Q3FY22 result: Max Towers, Noida Total leased area at Max Towers stands at ~5.1 lac sq. ft.; Max Estates owned leased area stands at ~2.9 lac sq. ft ~96% of the Max Towers as well as area owned by Max Estates is now leased Lease rental income from Max Towers stood at INR 73 Mn in Q3FY22 vs INR 50 Mn in Q3FY21. Full year rental expected to be INR ~350 - 400 Mn in FY23 Max House, Okhla Max House Phase 1 is now 100% occupied with leasable area of 1.05 lac sq. ft Lease rental income from Max House phase 1 stood at INR 24 Mn in Q3FY22 Full year rental for Max House Phase 1 is expected to be INR ~150 - 160 Mn in FY23 Work on Phase 2 of the project is on track, expected to be delivered by Q3FY23 Max Square, Noida Work on Max Square project continues to be on track and expected to be completed by Q4FY23 A Grade A+ office project, pre certified for a IGBC Green and IGBC Health Wellbeing Gold rating Total leasable area ~0.7 mn sq. ft; New York Life Insurance Company is a 49% partner in the project Pre leasing initiative underway with robust pipeline building up Max Asset Services Limited (MAS) ‘WorkWell Suites’ at Max House Okhla Phase 1 has signed up 198 seats of total 219 seats MAS Revenue stood at INR 65 Mn in Q3FY22 vs INR 27 Mn in Q3FY21 Secured six managed office fitout deals with marquee clients. Result PDF
Highlights: Max Ventures To Focus On Real Estate Business; Sells 51% Remaining Stake In Specialty Films Business To Partner Toppan For Rs 600-650 Crore In All-Cash Deal. Max Ventures & Industries Limited (MaxVIL) to emerge as a pure-play real estate business entity; focus on premium residential and commercial real estate in NCR. MaxVIL to divest remaining 51% stake in Specialty Films business to Toppan for Rs 600-650 crore (subject to customary adjustments). MaxVIL to explore restructuring options with its wholly owned subsidiary and rechristen MaxVIL as Max Estates Limited MaxVIL announced its financial results for the second quarter (Q2) of FY22. The company recorded consolidated revenues of Rs 3,783 million – up 31% from the year-ago period. The consolidated EBITDA rose 20% from the corresponding year-ago period to Rs 627 million. Speaking on the company’s quarterly (Q2) performance, Mr. Vachani said: “Q2FY22 proved to be a splendid quarter for our commercial real estate business. Max Towers and Max House are 93% and 60% leased, respectively, while commanding a 20-25% rental premium in the micro-market. With a strong enquiry pipeline, aided with recovery in the country’s economy, we are extremely confident of 100% leasing of both of our assets this financial year, and of our growth trajectory moving forward.” Result PDF