Leasing enquiry for Max commercial realty gains force

Max Ventures & Industries Limited (MaxVIL), a part of Max Group, announced its financial results on August 13.

According to a press release, the company’s specialty films vertical – MSFL continues to post strong performance, recording its highest-ever quarterly revenue and EBITDA during Q1FY22. MSFL’s revenue increased by 46 per cent YoY, EBITDA by 76 pc YoY while margins expanded by 380 bps YoY to 22.2 per cent.

The company’s real estate vertical – Max Estates witnessed improved flow of enquiries for leasing as lockdown restrictions were relaxed from the second half of Q1FY22. While company continues to positively engage with new prospective tenants, it expects the leasing to pick up in coming quarters as economy unlocks and restrictions are further relaxed.

After significantly leasing out Max Towers, Max Estates focus currently remains on leasing Max House Okhla Phase 1 and continue the time-bound construction of Max Square, said the release.

Sahil Vachani, MD & CEO of MaxVIL, said, “Leasing momentum at our commercial real estate business was impacted due to stringent lockdown restrictions during the first half of Q1FY22 due to second wave of COVID-19. As the quarter progressed, we witnessed increased enquiries for leasing as economy started unlocking again. We expect commercial real estate business activity to resume in coming months as lockdowns restrictions are eased while foraying into residential business will allow to us to expand our footprint, create future growth opportunities and enhance shareholder value.”