Max Ventures and Industries announced Q3FY23 results: Consolidated Q3FY23: Revenue up by 17% YoY to Rs 840 million in 9MFY23. EBITDA was up by 14% YoY to Rs 241 million in 9MFY23. PAT stood at Rs 139 million in 9MFY23 vs Rs 10 million in 9MFY22. Total lease rental income (Max Towers + Max House) up by 39% YoY to Rs 357 million. Max Asset Services revenue stood at Rs 315 million in 9MFY22. Commenting on the performance, Sahil Vachani, MD & CEO of MaxVIL said, “This year, the Company has embarked upon MEL 3.0 journey wherein it exited the speciality packaging films business & redeployed the capital to expand real estate portfolio. The Company has entered in the residential segment thereby adding a new asset class to its portfolio. With acquisitions this year (completed and in the pipeline), we will be ending FY23 with a real estate portfolio of 7- 8 million sq. ft. well diversified across Delhi NCR, asset classes and risk spectrum. With a focus on exceptional design, sustainability, and experiences anchored around our WorkWell & LiveWell philosophy, our endeavour is to become a preferred choice for all stakeholders including customers, communities, shareholders, and employees.” Result PDF
Max Ventures and Industries announced Q2FY23 results: H1FY23: Consolidated Revenue up by 62% YoY to Rs 548 million Consolidated EBITDA up by 64% YoY to Rs 170 million Consolidated PAT stood at Rs 100 million in H1FY23 vs Rs (-) 21 million in H1FY22 Total Lease Rental Income (Max Towers + Max House) up by 48% YoY to Rs 238 million in H1FY23 Max Asset Services Revenue stood at Rs 155 million in H1FY23 Commenting on the performance, Sahil Vachani, MD & CEO of MaxVIL said, “During the first half of FY23, the Company has deployed the capital raised from the Packaging Films stake sale. MVIL has strengthened its portfolio in NCR in line with its stated position of becoming one of the top 3 developers. The Company has successfully forayed into the residential segment, thereby adding a new asset class in its portfolio and diversified its footprint to Gurugram in the Commercial segment. We are fully geared in terms of people and talent to execute this next phase of growth for MVIL. With strong leasing dynamics for Grade A+ properties combined with the Company’s WorkWell and LiveWell Philosophies, we are confident to be a brand of choice for customers in both the Commercial and Residential segment.” Result PDF
Max Ventures and Industries announced Q1FY23 Result : Max Estates set to scale its real estate business Development portfolio expected to reach 3x of the current size by FY23 Consolidated Revenue up by 47% YoY to INR 273 Mn in Q1FY23 Consolidated EBITDA up by 40% YoY to INR 87 Mn in Q1FY23 Consolidated PAT stood at INR 66 Mn in Q1FY23 vs. INR 0.1 Mn in Q1FY22 Total Lease Rental Income (Max Towers + Max House) up by 45% YoY to INR 120 Mn in Q1FY23 Max Asset Services Revenue stood at INR 75 Mn in Q1FY23 Commenting on the performance, Sahil Vachani, MD & CEO of MaxVIL said, “With these new acquisitions and a very strong project pipeline under development, we expect to end FY 23 with a development portfolio of 6-7 Mn square feet, which will be 3x the size as of FY 22 footprint. As we gear up for scale, our focus is to strengthen organization capacity and capability to drive seamless execution across both Commercial and Residential opportunities, staying true to our purpose of Enhancing quality of life and in turn unlocking multi-fold value for all our stakeholders.” Result PDF
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