Powering Max Group’s Growth
‘It has been my personal ambition and responsibility to lead MaxVIL into the wider world of business’
When Sahil Vachani joined the Max Group in 2016, his objective was to create a powerful real estate brand and steer Max Ventures and Industries’ (MaxVIL) other businesses towards growth. His diverse expertise across various sectors including consumer durables and real estate has stood him in good stead so far.
Since assuming his role at MaxVIL, he has successfully completed two key transactions which will have an enduring impact on the company’s growth over the next few years. The first is the sale of a 22.5 per cent stake in MaxVIL to a subsidiary of New York Life Insurance Company in January 2017, and the second is the induction of Toppan Printing Co. Japan as a joint venture partner with a 49 per cent stake in MaxVIL’s legacy manufacturing business — Max Speciality Films (MSF).
“It has been my personal ambition and responsibility to lead MaxVIL into the ‘wider world of business’ or into sectors where the Max Group does not currently have a presence but are strategically aligned with the group’s larger interests,” says Vachani, who is CEO and managing director of MaxVIL.
“Over a very short span of time since the company’s inception in 2016, we have taken some significant growth bets, clearly identifying two new distinct business avenues — real estate and providing intellectual and financial capital to high-potential early-stage businesses — and have since made tangible progress in both these verticals as per concrete business plans.”
Vachani was recently appointed as a director on the boards of Max Financial Services and its subsidiary Max Life Insurance. He joined the boards of these companies as a representative of the owner sponsor group led by Analjit Singh.
In addition, Vachani is currently overseeing two new business verticals under MaxVIL — Max Estates and Max I.
Under Vachani’s stewarship, MaxEstates, in its three years of its existence, has almost completed a life-cycle of projects. It has turned around a distressed project— their flagship upcoming project Max Towers — by obtaining the necessary regulatory approvals and successfully completing project finance, design and execution, and is currently in the process of marketing its properties that are up for sale.
Sahil started his career as a banker with Citigroup in London, where he worked on mergers and acquisitions across the Middle East and Africa region.
In 2004, he joined Dixon Technologies, a consumer appliance manufacturing firm as business head and set up new verticals across multiple locations and was involved in the launch of new products, setting up of new manufacturing facilities and establishing relationships with leading brands as customers.
In 2008, he transitioned to a new role as co-founder and managing director of Dixon Appliances, where he led the business from its inception on multiple fronts, including designing of products, building the team, setting up the manufacturing facility, operations and building relationships with leading brands in India such as Panasonic, Godrej, LG, among others.
The company emerged as the single-largest third party contract manufacturer of washing machines for the Indian market.
In July 2015, Vachani sold his shareholding in the company to devote complete attention to his role in the Max Group.
“The new India is increasingly aspirational. At MaxVIL, we have consciously created businesses that cater to this aspiration and desire in the minds of the consumer through our business verticals Max Estates — premium realeEstate, Max Speciality Films — packaging films, and Max I. — investments,” says Vachani.