MaxVIL Q3 revenue up 10 pc at Rs 296 crore
Feb 13, 2021
New Delhi [India], Feb 13 : Max Ventures and Industries Ltd (MaxVIL) has reported 10 per cent year-on-year jump in consolidated revenue at Rs 296 crore for the quarter ended December (Q3 FY21).
The subsidiary of leading multi-business conglomerate Max Group operates across two core businesses -- real estate in the NCR region and specialty packaging films.
Its revenue from lease rental income of Max Towers went up by 19 per cent in Q3 to Rs 5 crore. The revenue from packaging films business was up by 11 per cent to Rs 282 crore.
Consolidated earnings before interest, taxes, depreciation and amortisation (EBITDA) were up by 50 per cent to Rs 49 crore and profit before tax up by 348 per cent at Rs 25 crore.
The consolidated profit after tax was up by 90 per cent to Rs 13 crore.
MaxVIL said it witnessed a strong business recovery during Q3 FY21 in commercial real estate business with the signing of leases with reputed companies.
The packaging films business recorded its highest ever quarterly revenue and EBIT and continued its margin expansion and growth momentum on the back of strong business fundamentals, recyclability and specialty products.
Sahil Vachani, Managing Director and CEO, said as the lockdown restrictions were eased during Q3, corporates are actively assessing their office space requirements.
"We are witnessing improved conversions from enquiries to actual leasing. The rapid pickup in leasing interest gives us the confidence to also lease out our second grade A-plus office project Max House soon, given its strategic location in South Delhi."
