Max Estates Approves ₹420 Crore Share-Swap Acquisition Of 84.7-Acre Najafgarh Land Platform

Board approved acquisition of 100% ownership in nine related land-owning companies holding approximately 84.7 acres in Sector 3, Najafgarh, Delhi, representing 4-6 million sq. ft. development potential. Consideration will be paid through a share swap involving up to 70.3 lakh Max Estates shares at Rs 597.50 each, valued at up to Rs 420.2 Cr. The transaction establishes Delhi as a new core growth market alongside Noida and Gurugram and advances the company's land-pooling strategy. It is a first move into a substantial Delhi development platform, with phased project launches expected as planning and infrastructure approvals progress. The acquisition is a related-party transaction, albeit supported by independent valuation and fairness opinions. It would increase the fully diluted share count by approximately 4.1%; completion remains subject to shareholder, stock-exchange and other regulatory approvals, with tentative completion by October 9, 2026.