Comments
Antara Senior Living, a Max India subsidiary, has partnered with Max Estates Ltd. to manage senior living residences at the newly launched Estate 360 project in Gurgaon. The intergenerational residential community, which opened for pre-sales today, has received a strong response, with senior living residences accounting for ₹1,100 crore out of the total ₹4,100 crore in pre-sale bookings. Max Estates Ltd announced this today too.
The shares of Max India Ltd were trading at ₹263.50, up by ₹8.10 or 3.17 per cent on the NSE today at 12.20 pm.
Antara will manage two of the six residences, dedicated to senior living, potentially earning revenue of ₹140 crore over the project’s lifecycle. The company will provide tailored amenities, primary healthcare services, and engagement activities for seniors.
Max Estates has revised its gross development value potential for Estate 360 to ₹4,800 crore, which is expected to be booked in FY25. The pre-sales booking value for senior living residences is estimated at ₹1,500 crore in the same fiscal year.
Rajit Mehta, MD and CEO of Antara Senior Living, stated that the company is exploring opportunities for further expansion, aiming to develop 1.5 million square feet annually for the next 4-5 years.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.