Slide 1: Exchange filing cover letter for Investor Presentation
October 25, 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
Slide 2: Investor Presentation: An overview of Max Estates' journey
Investor Presentation An overview of Max Estates’ journey October 2024
Slide 3: Key highlights
Key highlights Highest ever pre-sales / booking value of ~INR 4,100 Cr, Estate 360 85% sold, collected INR 400 Cr+ in Q2FY25 • First residential development at Gurugram – Estate 360, sold 2.1 mn sqft (85%) across 735 units at INR ~19,500 psf with a booking value of ~INR 4,100 Cr (85% of the inventor
Slide 4: Guidance vs actual
Guidance vs actual Achievement over Particulars FY 24 Guidance FY 24 Actuals FY 25 Guidance YTD Sep 24 Status Guidance ~4,100 Pre sales (INR Cr) 1,300 1,844 1.4 x 4,000 Guidance revised to INR 4,800-5,200 Cr ~4,800 Launches (GDV INR Cr) 1,300 1,844 1.4 x 4,000 Guidance revised to INR 4,800-5,200 Cr
Slide 5: Unrecognised revenue and annuity income
Unrecognised revenue and annuity income Residential – unrecognized revenue1 (INR Cr) Commercial –annuity portfolio (100%3) (INR Cr) Rental - 575 Under construction Delhi One – 120 Completed Max 65 – 200 Max Square Two Rental - 146 – 110 Max Square -60 Max Square -60 6,644 5,944 Max House 2 -28 Max H
Slide 6: Content
1 About Max Estates Content 2 H1 FY25 business highlights 3 Growth outlook 4 Execution enablers 5 Q2 and H1 FY 25 financials Experience WorkWell & LiveWell at 6 Max Estates www.maxestates.in 4
Slide 7: About Max Estates
1 About Max Estates 2 H1 FY 25 business highlights 3 Growth outlook 4 Execution enablers 5 Q2 and H1 FY 25 financials Experience WorkWell & LiveWell at 6 Max Estates www.maxestates.in 5
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 Residential projects Noida Delhi Gurgaon 222 Rajpur, Dehradun, 2016 24% Estate 128, Noida, 2022 56% Estate 360, Gurugram, 2023 Max 36A (Phase-2), DWARKA EXPRESSWAY, 20% GURUGRAM - 4 mn. Sq. Ft. Max
Slide 10: 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 11: Commercial projects in operation
About Commercial projects in operation Max Estates Max Towers, Sector 16B, Noida Max House – I, Okhla, Delhi • Weighted average rental: ~INR 121 per sq. • Weighted average rental: ~INR 136 per sq. ft. per ft. per month month • WALE1: 4.9 years • WALE1: 5.9 years • Occupancy: 100% • Occupancy: 100% •
Slide 12: Commercial projects in operation
About Commercial projects in operation Max Estates Max Square, Sector 129, Noida Max House – II, Okhla, Delhi • Weighted average rental: ~INR 76 per sq. • Weighted average rental: ~INR 160 per sq. ft. per ft. per month month • WALE1: 7.34 years • WALE1: 8.2 years • Occupancy: 71% • Occupancy: 100% •
Slide 13: Commercial projects under Design and Development
About Commercial projects under Design and Development Max Estates Representative image Representative image Artistic Rendition Representative image Max Square Two, Sector 129, Noida Max 65, Sector 65, Gurugram ~4 ~0.9 ~0.2 7.15 ~1.6 ~200+ Acre land parcel Mn sq. ft. of office Mn sq ft of retail Acr
Slide 14: Construction update
About Construction update Max Estates Max Square Two As on 25th Oct 2024 –Site Excavation is ongoing Max 65, Gurugram As on 25th Oct 2024 –Site Excavation is ongoing 12
Slide 15: Residential projects - launched
About Residential projects - launched Max Estates Representative image Representative image Representative image Estate 128, Sector 128, Noida Estate 360, Sector 36A, Gurugram 10 ~1.05 201 11.80 ~2.40 864 Acre land parcel Mn sq. ft. of Total number of Acre land parcel Mn sq. ft. of Total number of s
Slide 16: Construction update – Estate 128
About Construction update – Estate 128 Max Estates Tower 1 - As on 25th Oct 2024 – Tower 2 - As on 25th Oct 2024 – Third Fourth floor slab is completed, floor slab is completed, and 4th floor is and 5th floor is work in progress work in progress Tower 3 - As on 25th Oct 2024 – Third floor slab Actua
Slide 17: Projects – to be launched
About Max Estates Projects – to be launched Representative Representative image image Representative image Representative image Tower 4, Estate 128 New Opportunity Delhi One (Sector 128, Noida) Artistic Rendition (Gurugram) (Sector 16B, Noida) Residential Units 67 Development Potential ~4.0 mn. sq.
Slide 18: H1 FY25 business highlights
1 About Max Estates 2 H1 FY 25 business highlights 3 Growth outlook 4 Execution enablers 5 Q2 and H1 FY 25 financials Experience WorkWell & LiveWell at 6 Max Estates www.maxestates.in 16
Slide 19: Operational highlights
FY24 Operational highlights Highlights Commercial Residential Total Leased Area as on date Total Area Under design / ~1 Mn Sq. Ft. development 7.6 Mn Sq. Ft. Total area under development Total Gross Development Value 2.7 Mn Sq. Ft. ~Rs. 18,000 Cr4 Rental at 100% occupancy of Sales booked (FY24 and Y
Slide 20: Max Estates Limited – H1 FY25 Performance Highlights
FY24 Highlights Max Estates Limited – H1 FY25 Performance Highlights Total Leased Area as on date Capital Structure ~1 Mn sq. Ft. Equity Capital: Rs. 2,572 Cr. 1 (Max Estates share: Rs. 2,203 Cr) Lease Rental Incomes Debt as on September 2024 H1 FY25 – Rs. 53 Cr External Debt : Rs. 1,135 Cr2 (Includ
Slide 21: Growth outlook
1 About Max Estates 2 H1 FY 25 business highlights 3 Growth outlook 4 Execution enablers 5 Q2 and H1 FY 25 financials Experience WorkWell & LiveWell at 6 Max Estates www.maxestates.in 19
Slide 22: Indicative Growth Pipeline in the near term
Indicative Growth Pipeline in the near term Residential / SBUA Project Location Type Stage Commercial (sq. ft.) Gurugram Residential 1.3 Mn Outright Due diligence Noida Residential 2.1 Mn Outright Auction awaited Delhi Residential 0.1 Mn JDA Commercial negotiation Gurugram Residential 1.2 Mn JDA Com
Slide 23: Execution enablers
1 About Max Estates 2 H1 FY 25 business highlights 3 Growth outlook 4 Execution enablers 5 Q2 and H1 FY 25 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 Anthony R. Malloy Atul B. Lall Non-Executive Director Non-Executive Director • Executive Vice President and Chief Investment • Managing Director and Vice Chairman of Officer of New York Life Insurance Company. Dixon Techn
Slide 26: Experienced Management team … with mix of real and non real estate background
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+ 14+ 26+ 14+ 13+ Anshul Gaurav Archit Goyal Anil Mishra Ashish Saboo Amit Srivastava Arjun Gandhi Deputy General Manger – AVP & P&L Head Senior General Manager- Senior General Man
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: …and 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 Outdoor and Print Media Launch a comprehensive campaign on all social media platforms to implement organic and lead generation campaigns across the. Key achievements across soci
Slide 35: Q2 and H1 FY25 financials
1 About Max Estates 2 H1 FY 25 business highlights 3 Growth outlook 4 Execution enablers 5 Q2 and H1 FY 25 financials Experience WorkWell & LiveWell at 6 Max Estates www.maxestates.in 33
Slide 36: Summary: Financial Highlights for Q2 & H1 FY25
Summary: Financial Highlights for Q2 & H1 FY25 • Consolidated Revenue stood at Rs 81 Cr in H1 FY25 • Consolidated EBITDA stood at Rs 23 Cr in H1 FY25 • Consolidated PBT stood at Rs (4) Cr and PAT stood at Rs (3) Cr in H1 FY25, on account of the following: • This is mainly due to higher advertisement
Slide 37: Max Estates – Operational Metrics
Max Estates – Operational Metrics Total Leased Area (in Sq. Ft.) Lease Rental Income (Rs. Mn.) 916,926 485 662 373 400,563 407,286 FY22 FY23 FY24 FY22 FY23 FY24 Quarterly Trend Total Leased Area (in Sq. Ft.) Lease Rental Income (Rs. Mn.) +148% +102% 701,286 876,141 970,000 1,039,767 142 174 219 254
Slide 38: Max Asset Services– Revenue Trend
Max Asset Services– Revenue Trend Yearly Trend (Rs. cr.) Quarterly Trend (Rs. cr.) 36 10 10 31 8 8 24 6 FY22 FY23 FY24 Q2FY24 Q3FY24 Q4FY24 Q1FY25 Q2FY25 36
Slide 39: Max Estates - Profit & Loss Statement
Max Estates - Profit & Loss Statement Consolidated Profit & Loss (In Rs. Cr) Q2FY25 Q2FY24 H1 FY25 H1 FY24 Net Sales 40.2 20.5 80.7 38.8 Cost of Goods Sold 2.7 0.0 4.5 0.0 Employee benefit expense 4.0 3.1 7.8 5.8 Advertisement and Marketing expense 13.1 9.1 20.9 13.2 Other expenses 11.8 7.8 23.6 16.
Slide 40: Max Estates – Balance Sheet as on 30th September 2024
Max Estates – Balance Sheet as on 30th September 2024 Assets (Rs. Crs.) Sep’24 Mar’24 Equity & Liabilities (Rs. Crs.) Sep’24 Mar’24 Non-Current Assets 2,325 2,108 EQUITY 2,571 1,451 Property, Plant and Equipment 7 5 Equity Share Capital 161 147 Investment Properties 1,866 1,804 Pending for allotment
Slide 41: About Max Estates 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 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 Representational image Homes The Project
Slide 54: Large wrap around decks in the units
Large wrap around decks in the units Representational image52
Slide 55: Large wrap around decks in the units
Large wrap around decks in the units Representational image53
Slide 56: 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 57: Well-being amenities for all generations
Well-being amenities for all generations Representational image55
Slide 58: Countryside-themed landscape
Countryside-themed landscape Representational image56
Slide 59: 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 60: 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 61: Max Estates Limited contact details
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 59