Slide 1: Exchange filing cover letter
May 22, 2024 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza, Bandra Kurla Complex Dalal Street Bandra (East) Mumbai – 400 001 Mumbai – 400 051 Scrip Code: 544008 SYMBOL: MAXESTATES Sub.: Investor Presentation Dear Sir/ Madam, Pursuant to Regulation 30 o
Slide 2: Investor Presentation
Investor Presentation An overview of Max Group’s real estate journey May 2024
Slide 3: Business highlights
Business highlights 50 percent growth in real estate portfolio from 8 Mn to 12 Mn sqft • A Joint Development Agreement over ~18 acres of land in Sector 36A, Gurugram • Development potential of ~4 million sq ft with potential Gross Development Value (GDV) of Rs. 9,000 crore + • Combined with existing
Slide 4: Content
1 About Max Estates Content 2 FY 24 business highlights 3 Growth outlook 4 Execution enablers 5 Q4 and FY 24 financials Experience WorkWell & LiveWell at 6 Max Estates www.maxestates.in 2
Slide 5: About Max Estates
1 About Max Estates 2 FY 24 business highlights 3 Growth outlook 4 Execution enablers 5 Q4 and FY 24 financials Experience WorkWell & LiveWell at 6 Max Estates www.maxestates.in 3
Slide 6: Max Group has evolved into a USD 4 Billion enterprise with real estate business
About Max Estates Max Group has evolved into a USD 4 Billion enterprise with real estate business housed in 1 of the 3 listed entities 6.52% 50.94% 49.51% Holding Companies Life Insurance Senior Living Real Estate & related Business business businesses Operating Companies Group CSR Arm 4
Slide 7: Max Estates' Purpose is anchored on core values of Max Group
About Max Max Estates’ Purpose is anchored on core values of Max Estates Group and operating philosophy of LiveWell and WorkWell Our Purpose Our Values Enhance quality of life through the spaces we create Sevabhav Excellence Credibility Our Operating Philosophy – WorkWell and LiveWell Empathetic Hos
Slide 8: Our Product-market segments: One region multiple asset class
About Max Our Product- market segments : One region multiple asset class Estates Commercial Projects WorkWell Experiences WorkWell stands for a lifestyle where all the physical amenities of a modern workspace come together with human centric design. Residential Projects LiveWell Experiences LiveWell
Slide 9: Diversified residential & commercial portfolio across Delhi NCR
About Max Diversified residential & commercial portfolio across Delhi NCR Estates Geographical split1 Noida Delhi Gurgaon Residential projects 222 Rajpur, Dehradun, 2016 24% Estate 128, Noida, 2022 56% Estate 360, Gurugram, 2023 Max 36A (Phase-2), DWARKA 20% EXPRESSWAY, GURUGRAM - 4 mn. Sq. Ft. Max
Slide 10: Commercial projects in operation
About Commercial projects in operation Max Estates Max Towers, Noida1 Max House Phase 1, Okhla1 Net leasable area 3.02 Lakhs Sq. Ft. Net leasable area 1.05 Lakhs Sq. Ft. Net Leased area 3.02 Lakhs Sq. Ft. Net Leased area 1.05 Lakhs Sq. Ft. Occupancy 100 % Occupancy 100 % Annual Rental (FY24) Rs. 39
Slide 11: Commercial projects under Design and Development
About Commercial projects under Design and Development Max Estates Representative Artistic Rendition image Representative image Representativeimage Max Square Two, Sector 129, Noida Max 65, Golf Course Extension Net leasable area 1 - 1.1 mn. Sq. Ft. Net leasable area 1.5-1.6 mn. Sq. Ft. Annual Renta
Slide 12: Residential projects under Design and Development
About Max Estates Residential projects under Design and Development Representative image Representative image Representative Representative image image Estate 128, Noida Estate 360, Gurugram New Opportunity Premium Residential Artistic Rendition (Sector 36A, Gurugram) 201 Development Potential ~2.4
Slide 13: New York Life – Our strategic partner in the commercial real estate business
About Max New York Life – Our strategic partner in the commercial real Estates estate business Founded in 1845, New York Life is a Financial Since 2001, partnered with Max group to form Max New York Services Company and the largest mutual life Life Insurance Company Limited with 26% ownership, which
Slide 14: NYL investment in Max Towers and Max House
About Max Estates NYL investment in Max Towers and Max House Pre and post transaction Max Towers, Noida Max House Phase 1 & 2, Okhla Net leasable area 3.02 Lakhs Sq. Ft. Net leasable area 2.55 Lakhs Sq. Ft. Ownership of Max Estates Ownership of Max Estates 100% MEL 100% (Pre-Transaction) (Pre-Transa
Slide 15: FY24 business highlights
1 About Max Estates 2 FY 24 business highlights 3 Growth outlook 4 Execution enablers 5 Q4 and FY 24 financials Experience WorkWell & LiveWell at 6 Max Estates www.maxestates.in 13
Slide 16: Operational highlights
FY24 Operational highlights Highlights Commercial Residential Total Leased Area as on date Total Area Under development ~1 Mn Sq. Ft. 7.6 Mn Sq. Ft. Total area under development Total Gross Development Value 2.7 Mn Sq. Ft. ~Rs. 15,000 Cr4 Rental at 100% occupancy of Sales booked (FY24) operational a
Slide 17: Max Estates Limited – FY24 Performance Highlights
FY24 Highlights Max Estates Limited – FY24 Performance Highlights Total Leased Area as on date Capital Structure ~1 Mn sq. Ft. Equity Capital: Rs. 1,431 Cr. 1 (Max Estates share: Rs. 1,171 Cr) Lease Rental Incomes Debt as on Mar 2023 FY24 – Rs. 66 Cr External Debt : Rs. 735 Cr2 (Including LRDs : Rs.
Slide 18: Growth outlook
1 About Max Estates 2 FY 24 business highlights 3 Growth outlook 4 Execution enablers 5 Q4 and FY 24 financials Experience WorkWell & LiveWell at 6 Max Estates www.maxestates.in 16
Slide 19: Growth outlook
Growth outlook Long term outlook Residential segment • Through the acquisition of 18.23 acres, we have 4000 already locked in a Gross Development Value 2.2 x potential of Rs. 9,000+ Cr which will be brought to market in FY26 & FY27 1800 • Potential access to sponsor’s1 land bank of ~100 acres in Del
Slide 20: Indicative Growth Pipeline
Growth Outlook Indicative Growth Pipeline Asset Location Asset Class Super Built-up Area Engagement Status Gurugram Residential 1.3 Mn sqft Due diligence Noida Residential 3.5 Mn sqft Due diligence Delhi Residential 0.1 Mn sqft Commercial Negotiation Gurugram Residential 2.8 Mn sqft Commercial N
Slide 21: Our preparedness to meet the expectations of the demanding business environment
Growth Our preparedness to meet the expectations of the Outlook demanding business environment Challenges Our Preparedness • The market share of institutional / corporate developers is at 34%1 across India Increasing • Total number of institutional / corporate developers in Delhi NCR is underpenetra
Slide 22: Why Max Estates is poised for exponential growth
Growth Outlook Why Max Estates is poised for exponential growth Focus on design, well being and end consumer experience Focused approach on NCR market – land acquired for 12 Mn Sq. Ft. developments • Enhancing quality of life through the spaces we create • Focus on development & management of • Focu
Slide 23: Execution enablers
1 About Max Estates 2 FY 24 business highlights 3 Growth outlook 4 Execution enablers 5 Q4 and FY 24 financials Experience WorkWell & LiveWell at 6 Max Estates www.maxestates.in 21
Slide 24: Key execution enablers
Execution Enablers Key execution enablers Talent depth Strong Brand Equity and diversity Customer Experience Institutionalization centricity of Processes Sustainability and Technology ESG focus enabled execution 22
Slide 25: Board of Directors – Max Estates
Talent depth and diversity Execution Enablers Board of Directors – Max Estates Analjit Singh Anthony R. Malloy Atul B. Lall D K Mittal Gauri Padmanabhan Niten Malhan Chairman Non-Executive Director Non-Executive Director Independent Director Independent Director Independent Director • Founder and •
Slide 26: Experienced Management team
Talent depth and diversity Execution Experienced Management team … with mix of real and non Enablers real estate background Rishi Raj K S Ramsinghaney COO – Max Estates Senior Advisor - Max Estates • Ex-COO, Centre of Expertise for Strategy & • Over 45 years of experience; 9 yrs. with Max Health Cor
Slide 27: Supported by dedicated and experienced teams across key verticals
Talent depth and diversity Execution ..supported by dedicated and experienced teams across key Enablers verticals 14+ 25+ 12+ 26+ 14+ 13+ Anshul Gaurav Archit Goyal Anil Mishra Ashish Saboo Amit Srivastava Arjun Gandhi Deputy General Manger – AVP & P&L Head General Manager- Senior General Manager -
Slide 28: Institutionalizing internal processes to enable seamless execution at scale
Institutionalization of Processes Execution Institutionalizing internal processes to enable seamless Enablers execution at scale 13 Verticals identified as follows Sales Planning CRM Safety Construction Marketing Quality RERA Management Design Finance & Asset HR & Payroll Management Accounts managem
Slide 29: Suite of digital interventions across value chain in progress
Technology enabled execution Execution Suite of digital interventions across value chain in progress Enablers Non exhaustive Clairco Kubma & Sparrow SharePoint Ozonetel Smart Joules Sales Force Solution to provide Solutions to give Customized central Call center software An AI-based energy Industry
Slide 30: Driving impactful Sustainability initiatives
Sustainability and ESG focus Execution Driving impactful Sustainability initiatives.. Enablers Implemented Sustainable Initiatives FY25 Priorities Measuring Progress • Integration of double-glazing units and IoT-based • Achieving BEE Star rating for Max Towers chiller operations optimize energy effi
Slide 31: Contributing back to society is at the core of how we approach the business
Sustainability and ESG focus Execution Enablers Contributing back to society is at the core of how we approach the business Max Estates and Max India Foundation (CSR arm of Max Max Estates and Max India Foundation (CSR arm of Max Group) collaborate to Group) collaborate to improve communities by eng
Slide 32: We intentionally design an ecosystem of amenities
Customer Experience centricity Execution We intentionally design an ecosystem of amenities … Enablers Daycare Forest Courtyard Cafeteria Meditation Room Event Spaces Food Court Retail Stores A work environment that is good for people is great for business Source: Internal Company Documents 30
Slide 33: Curate engaging events to elevate Customer Experience
Customer Experience centricity Execution …and curate engaging events to elevate Customer Experience Enablers Exciting Pulse1 Improved F&B Organize sports events mix at The Hub activities Bringing life into Our buildings 1-Pulse: An in-house customer experience vertical 31 Source: Internal Company Do
Slide 34: Building Awareness of Max Estates brand story
Strong Brand Equity Execution Building Awareness of Max Estates brand story Enablers Social Media Platforms Non exhaustive Relisting of MEL Launch a comprehensive campaign on all social media platforms to implement organic and lead generation campaigns across the. Key achievements across social medi
Slide 35: Q4 and FY24 financials
1 About Max Estates 2 FY 24 business highlights 3 Growth outlook 4 Execution enablers 5 Q4 and FY 24 financials Experience WorkWell & LiveWell at 6 Max Estates www.maxestates.in 33
Slide 36: Summary: Results for FY24 & Updates
Summary: Results for FY24 & Updates Max Estates Limited FY24 Financial Highlights: • Company’s first luxury residential project in NCR has been fully sold and had garnered a pre-formal launch sale of Rs. 1,800+ crores. Over the last nine months, the Company has collected ~Rs. 453 crores for the proj
Slide 37: Max Estates – Operational Metrics
Max Estates – Operational Metrics Total Leased Area (in Sq. Ft.) Lease Rental Income (Rs. Mn.) 1 916,926 485 662 373 400,563 407,286 296,649 178 FY21 FY22 FY23 FY24 FY21 FY22 FY23 FY24 Quarterly Trend Total Leased Area (in Sq. Ft.) Lease Rental Income (Rs. Mn.) +125% +74% 701,286 876,141 916,926 174
Slide 38: Max Asset Services – Revenue Trend
Max Asset Services– Revenue Trend Yearly Trend (Rs. cr.) Quarterly Trend (Rs. cr.) 36 10 31 8 24 7 6 13 4 FY21 FY22 FY23 FY24 Q4FY23 Q1FY24 Q2FY24 Q3FY24 Q4FY24 1- on account of fit out revenue 36
Slide 39: Max Estates - Profit & Loss Statement
Max Estates - Profit & Loss Statement Consolidated Profit & Loss (In Rs. Cr) Q4FY24 Q4FY23 Q3FY24 FY24 FY23 Net Sales 30.0 23.3 24.2 92.9 107.3 Cost of Goods Sold 0.0 3.1 0.0 0.0 21.5 Employee benefit expense 3.5 4.2 3.0 12.3 15.4 Advertisement and Marketing expense 4.2 3.0 5.2 22.6 4.1 Other expens
Slide 40: Max Estates – Balance Sheet as on 31st March 2024
Max Estates – Balance Sheet as on 31st March 2024 Assets (Rs. Cr.) Mar’24 Mar’23 Equity & Liabilities (Rs. Mn.) Mar’24 Mar’23 Non-Current Assets 21,075 16,582 EQUITY 14,505 12,538 Property, Plant and Equipment 46 58 Equity Share Capital 1,471 Investment Properties 18,038 14,051 Pending for allotment
Slide 41: Experience WorkWell & LiveWell at Max Estates
1 About Max Estates 2 FY 24 business highlights 3 Growth outlook 4 Execution enablers 5 Q4 and FY 24 financials Experience WorkWell & LiveWell at 6 Max Estates www.maxestates.in 39
Slide 42: 222 Rajpur – Key highlights
Max Estates’ Portfolio 222 Rajpur – Key highlights Area ~5 acre Abutting the Malsi Reserve Forest Limited inventory of 22 bespoke residences 100% Sold 40
Slide 43: Night View
Night View * w i iy ow mies See
Slide 44: Max Towers – Key highlights
Max Estates’ Portfolio Max Towers – Key highlights Leasable Area On DND Flyway, at ~0.6 mn. sq. ft. entrance of Noida Rental~ 25-30% Occupancy 100% premium to micro market Certified LEED Marquee tenant Platinum from profile USGBC and Health ESRI India, IEX, Veolia, Kama and Wellbeing Gold Ayurveda,
Slide 45: The Cube
The Cube 43
Slide 46: Food Court
Food Court 44
Slide 47: Max House – Key highlights
Max Estates’ Portfolio Max House – Key highlights Leasable Area Boutique campus ~0.3 mn. sq. ft. development in CBD of South Delhi Phase 1- Rental~ 25-30% Occupancy 100% premium to micro Phase 2- market Leased1 89% LEED Gold certified Marquee tenant and Health and profile Wellbeing Gold from Nykaa F
Slide 48: Grand Entrance
Grand Entrance 46
Slide 49: Lobby
Lobby 47
Slide 50: Max Square – Key highlights
Max Estates’ Portfolio Max Square – Key highlights Leasable Area ~0.7 mn. sq. ft. On Noida- Gr. Noida Expressway 55% Leased1 Designed around a central forest IGBC Platinum certified for Green and pre certified for Health & Wellbeing 48 1 including LOI – Letter of intents
Slide 51: Central Forest Courtyard
Central Forest Courtyard 49
Slide 52: Food Court
Food Court 50
Slide 53: Estate 128 – Our first luxury residential project in NCR
Max Estates’ Portfolio Estate 128 – Our first luxury residential project in NCR Leasable Area ~10 acres Rectangular & contiguous Abutting Noida Gr. Noida Expy Frontage of ~340 m on expressway ~ 7 acres of gardens/ lawns IGBC Platinum pre- certified for Green Homes The Project is being developed by M
Slide 54: Large wrap around decks in the units
Large wrap around decks in the units 52
Slide 55: Estate 360, Gurugram – Delhi NCR's first inter-generational community at scale
Max Estates’ Portfolio Estate 360, Gurugram – Delhi NCR’s first inter-generational community at scale Land Area = ~11.8 acres At the confluence of 3 Gurugram’s major corridors ~2.4 Mn sq. ft. of development Opposite 220-acre green zone and 50 m green belt and key commercial developments Representati
Slide 56: Max Square Two – Key highlights
Max Estates’ Portfolio Max Square Two – Key highlights Land Area = ~4 acres Development potential of ~1 mn sq. ft. Abutting Noida Gr. Noida Expy Contiguous to Max Square 6.5 acres of office led mixed use development potential IGBC Platinum pre- certified for Green New Building Representational image
Slide 57: Max 65, Gurugram – Max Estates' First CRE project in Gurugram
Max Estates’ Portfolio Max 65, Gurugram – Max Estates’ First CRE project in Gurugram Land Area = ~7.15 acres Contiguous shape with separate entry for retail space Abutting Golf Course Extension Road from North Corner Plot Direct access from 3 sides Representational image 55
Slide 58: Safe Harbor
Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by Max Estates Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securitie
Slide 59: Details of Group Entities
Details of Group Entities • Max Estates Ltd. (CIN no. L70200PB2016PLC040200) is having its Corporate office at Max Towers, L-20, C - 001/A/1, Sector- 16B, Noida, Gautam Buddha Nagar, Noida UP 201301 & Registered office at 419, Bhai Mohan Singh Nagar Village Railmajra, Tehsil Balachaur, Nawanshehar,
Slide 60: Max Estates Limited
MAX ESTATES LIMITED L-20, Max Towers, Sector – 16B, DND Flyway, Noida, UP - 201 301 Tel: +91 120 4743200 | www.maxestates.in CIN no. L70200PB2016PLC040200 58