Max Estates’ Financial Performance in Q2 FY24

Team Opulnz Abode:11-11-2023,10:12am: Read Time – 1 min

Overview of Net Loss

Max Estates reported a net consolidated loss of Rs 4.51 crore in the September 30, 2023 quarter, which contrasts with the net profit of Rs 3.64 crore recorded in the same period of the previous fiscal year​​​​.

Decline in Total Income

The company’s net consolidated total income for Q2 FY24 was Rs 27.78 crore, marking a 16.75% decrease from Rs 33.37 crore in the corresponding quarter last year​​​​.

Strategic Land Acquisitions

Max Estates acquired two land parcels in Sector 129, Noida, during this quarter through its subsidiary Max Square. The total investment for these acquisitions was Rs 219.26 crore, excluding stamp duty and other incidental expenses​​.

Employee Stock Option Scheme

In line with its employee welfare initiatives, Max Estates continued its employee stock option scheme, issuing and allotting 30,918 equity shares at Rs 10 each during the first half of FY24.

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