Stock Jumps 16% After Approval for Noida Project With ₹550 Cr Revenue Potential

Synopsis: The share of this company surged after approval for its Noida senior living project Phase I, unlocking Rs 550 crore potential and driving strong investor interest in Max India Limited.

The shares of this company, which is a publicly listed holding company of the billion-dollar Indian conglomerate, the Max Group, gained investor attention after approval for Noida phase 1.

With a market capitalization of Rs 888 crore, Max India Ltd’s share on Wednesday made a day high of Rs 177.15 per share, up by 16.2 percent from its previous day’s close price of Rs 152.45 per share. The share of the company gave a negative return of 9 percent over the last year.

What the news

Contend Builders Private Limited, a joint venture of Antara Senior Living Limited, a subsidiary of Max India Limited, has received a partial Occupancy Certificate for its senior living project at Sector 150, Noida. This includes 3 towers and 340 units under Phase I, enabling possession for senior residents and unlocking around Rs 150 crore in receivables linked to completion.

The overall project spans 12 lakh sq. ft., with Phase I covering 7.45 lakh sq. ft. and Phase II at 4.55 lakh sq. ft. Phase I is estimated to generate about Rs 550 crore in revenue, while Phase II is expected to add around Rs 800 crore. The company is now working on the revalidation of approvals for Phase II progress.

The Occupancy Certificate was delayed due to a sector-level requirement for completion of shared sports infrastructure in Sector 150, Noida. The company had already completed its contribution and met all payment obligations. After approaching the Noida Authority and courts, including the Supreme Court, it established full compliance, leading to the grant of a partial OC.

Mr Rajit Mehta, MD & CEO of Antara Senior Care, said the partial Occupancy Certificate from Noida authorities is a positive development. He thanked the authorities and the Supreme Court for their support, noting that senior residents had long awaited possession. The company is reviewing OC conditions and expects possession to begin soon.

About the Company 

Max India Ltd is a key publicly listed holding company of the $7-billion Indian conglomerate, the Max Group. Founded and chaired by Analjit Singh, the company is primarily focused on the fast-growing Indian senior care and healthcare services sector. Antara Senior Living is the flagship senior care brand, which develops residential communities, assisted care facilities, memory care centres, and provides “Care at Home” services.

Financial Highlights: Revenue in Q3 FY26 was Rs 43 crore compared to Rs 35 crore in Q3 FY25, reflecting a rise of around 22.9 percent YoY. PBT loss in Q3 FY26 stood at Rs 41 crore versus Rs 44 crore in Q3 FY25, while PAT loss in Q3 FY26 was Rs 43 crore compared to Rs 45 crore in Q3 FY25, showing gradual improvement.

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