Max Estates Secures Strategic Investment from New York Life Insurance

Max Estates Limited has secured a strategic investment from New York Life Insurance Company, which acquired a 49% stake in Max Towers and Max House. The investment of Rs. 391 Crore enhances Max Estates’ growth capabilities in both commercial and residential sectors, marking a significant milestone in their partnership.

Max Estates Limited has announced the successful closure of a strategic investment deal with New York Life Insurance Company (NYL), which now holds a 49% stake in Max Towers and Max House (Phase I & II). This investment sees NYL deploying Rs. 391 Crore into these operational commercial assets located in Noida and Delhi.

With this transaction, NYL has committed a cumulative capital of Rs. 1200 Crore to Max Estates, strengthening the latter's ability to accelerate growth across commercial and residential real estate segments. Max Estates retains a 51% stake in both SPVs.

Sahil Vachani, MD & CEO of Max Estates, commented that the partnership with NYL significantly bolsters Max Estates' financial capacity to undertake top-tier projects in Delhi-NCR. The funds will largely support expansion into the residential market, aiming to acquire 3 million square feet of development opportunities annually.

(With inputs from agencies.)