MaxVIL fully leases out Max House Phase 1 to corporates

Max Ventures & Industries (MaxVIL) announced that Max House - Phase 1 is now 100% leased out to marquee domestic and international clients.

Max House's flexible managed office offering at Max House under the name of WorkWell suites is fully signed up as well.

Max House is the 2nd Grade A+ commercial real estate offering by Max Estates. It is located at the Secondary Business District of Delhi, Okhla, offering prime real estate spread across 8 office floors. It was leased out completely during Q3FY22 at a significant rental premium to its micro market. Average rental rate for Max House Phase 1 now stands at about Rs 125 per square feet per month.

The latest occupier includes one of the largest US based retail companies - Target Sourcing Services India which will occupy 26,608 square feet at Max House. The lease with Target Sourcing has been registered on 22 February 2021.

MD and CEO, MaxVil, Sahil Vachani, shared "There is an increasing trend of flight to quality, with top-notch companies upgrading to Grade A+ spaces post the pandemic. Organisations are choosing well maintained contemporary office complexes like Max House that offer better employee well-being and the best of amenities. In addition to completion of 100% leasing at Max House, Max Towers is also now 98% leased to leading domestic and international organisations."

Apart from these, it also houses its flexible office offering, WorkWell Suites, which is a part of Max Asset Services (MAS). All the 219 seats offered at WorkWell suites have now been signed up. The company will be launching WorkWell suites in the upcoming projects as well.

Work on Phase 2 of Max House, Okhla is on track and the project is expected to be delivered by Q3FY23. Phase 2 would be about 40% larger than phase 1, with total leasable area of 1.45 lacs square feet. It will be similar to phase 1 in terms of overall excellence in quality and experience. Both phases will be supported by an amenities block housing a full suite of amenities including food court, day care, fitness centre and spaces to enable community, collaboration and innovation.

MaxVIL, a part of Max Group, owns and operates a real estate business through its 100% subsidiary, Max Estates. MaxVIL also has a real estate services & management company - Max Asset Services.

On a consolidated basis, net profit of MaxVIL surged to Rs 32.69 crore in Q3 December 2021 as against Rs 2.04 crore in Q3 December 2020. Total income spurted 146.71% to Rs 97.97 crore in Q3 December 2021 over Q3 December 2020.

Shares of MaxVIL were up 1.71% at Rs 103.80 on the BSE.

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