Max Expects Rs 550 Crore Revenue from Senior Living Project
Max India Ltd's arm Antara Senior Living has made a foray into the Delhi-NCR market with a new housing project for elderly at Noida and is targeting a sales revenue of around Rs 550 crore over the next four years. The company has already tied up with a landlord to develop this 4-acre project, located at Sector 150 in Noida, Uttar Pradesh. This is the company's second project, with the first already being developed at Dehradun in Uttarakhand. Established in 2013, Antara Senior Living, a wholly-owned subsidiary of Max India, is being led by Tara Singh Vachani, who is the executive chairman. The apartments are offered in various sizes from 1,476 sq ft to 3,012 sq ft and priced between Rs 1.08 crore and Rs 2.21 crore. "The senior living community will be developed in two phases. The first phase has 330 senior homes. We are expecting a sales revenue of Rs 550 crore from this phase over the next four years. The second phase will be launched when we have conducive market conditions," said Antara Senior Living MD & CEO Rajit Mehta. As of December 31, 2019, Antara reported total collections of Rs 332 crore from its Dehradun project and sold 123 units, the company said.
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