New Delhi, Aug. 29 -- Max Estates Ltd has purchased 84.71 acres of land in West Delhi from entities holding land on behalf of the company's promoters through a share-swap transaction valued at Rs.420 crore, as part of its expansion strategy.

According to the regulatory filing, the 85-acre land parcel is expected to provide 4-6 million sq ft of developable area, with an estimated revenue potential of Rs.10,000-12,000 crore.

With the acquisition, Max Estates has marked its entry into Delhi's residential real estate market. The company already has residential projects in Gurugram and Noida, within the Delhi-NCR region.

Max Estates on Saturday said it had signed a share purchase agreement to acquire 100% stakes in nine promoter-owned compa...