Shares of Max Estates Ltd climbed 0.57% to ₹599.20 on the BSE after the company disclosed a joint development agreement for a 9.76‑acre parcel in Indirapuram, Ghaziabad.
The transaction will be structured on a capital‑light basis, compensating the landowner through a revenue‑sharing arrangement rather than a full cash purchase, a method the firm has employed in earlier JDA deals.
The 9.76‑acre parcel sits along National Expressway‑3, with a green‑belt buffer and proximity to Akshardham Temple, offering connectivity from Delhi and Noida, and overlooking the Hindon River’s green buffer zone.
The projected gross development value of ₹2,500‑₹3,000 crore marks one of the largest in Max Estates’ portfolio, eclipsing the ₹1,100 crore pre‑sales surge reported in the first quarter and aligning with the company’s strategy to expand its NCR footprint beyond Noida, Gurugram, and Delhi.
The deal, pending due diligence and approvals, signals Max Estates’ intent to capitalize on the growing demand for mixed‑use developments in the region; the company will file for necessary approvals by June and is expected to report Q2 results on July 15.