Business & Investment

MaxVIL records 14% revenue growth in 2009

New Delhi: Max Ventures & Industries Limited () Max GroupNCR’s two businesses, real estate and specialty packaging film, said it leased 3.07 sq ft at Max Estate in 2009, compared to 1.42 sq ft in 2008.

According to the company, rental income in FY2009 increased by 81% to 178 million rupees.

During FY2008, the company recorded a one-time revenue of Rs 3,571 million from a sale at Max Towers.

MaxVIL’s revenue in 2009 increased 14% to Rs 11,723 million, while adjusted PAT more than six times to Rs 571 million.

“The company continued to show strong business momentum in its specialty film business, setting record quarterly and yearly revenues and EBITDA. Commercial real estate rental revenue was the second Covid in March 2021. It continued to grow throughout the year, except for a temporary postponement due to the wave blockade. ”

Max Towers, Max Estate’s flagship office project, has reached an occupancy level of over 90%. The company is currently focusing on renting Max House in Okra, the smooth and time-limited progress of Max Square, a commercial facility under construction, and the start of Phase 2 work on Max House.

Max Estates is also actively exploring new commercial parcels at the Delhi NCR, positively aiming to achieve Gurgaon’s intention to add nearly one million square feet per year to its project pipeline after 2010. I have a bias.

“While 21 was a year of pandemic uncertainty, both the real estate and packaging film core businesses dealt very well. MaxVIL MD and CEO Sahil Vachani commented on performance. And he said:

In addition, Max Estate has decided to enter the housing sector. The company will focus on mid-segment housing. At Delhi NCR, we are looking for affordable and well-located land lots. Future expansion plans for the housing sector are based on the first experience from the launch of the first project.

“We now believe it’s time to enter residential real estate to broaden our footsteps. Housing development is high for the company due to its trust in Brand Max and access to institutional capital. We believe that it will be a complementary business with high added value in terms of revenue, “said Vachani.

MaxVIL records 14% revenue growth in 2009

https://economictimes.indiatimes.com/markets/stocks/earnings/maxvil-posts-14-rise-in-revenue-to-rs-1172-crore-in-fy21/articleshow/83438640.cms MaxVIL records 14% revenue growth in 2009

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