Maxwell Engineering Solutions Plans 1,559-Square-Metre Expansion

Maxwell Engineering Solutions Limited plans a 1,558.61-square-metre office and manufacturing expansion on an adjacent vacant Waghodia plot after identifying its existing 1,978.19-square-metre built-up facility as fully utilised. The project is estimated at Rs 7.33 crore before goods and services tax, or GST, and other applicable taxes, while construction and interior contracts remain unawarded.

Why is Maxwell Engineering Solutions planning a 1,559-square-metre expansion?

Maxwell Engineering Solutions is planning the expansion because its existing 2,000-square-metre Waghodia site has no disclosed free area. Its registered office and manufacturing facility at Plots 939 and 940, GIDC Industrial Estate, Waghodia, has an approved built-up area of 1,978.19 square metres from the ground floor to the mezzanine floor, which the company describes as fully utilised.

The proposed building will occupy Plot 938, a vacant 1,000-square-metre industrial plot next to the operating facility. The approved plan allows 1,558.61 square metres of built-up area from the ground floor through the third floor. Maxwell Engineering Solutions says the adjacent location adds space directly connected to manufacturing operations and includes a dedicated sitting area for employees.

The company acquired the leasehold interest in Plot 938 under a deed of assignment dated January 27, 2025, between Ratul Industries Private Limited and Maxwell Engineering Solutions Private Limited. The plot is non-agricultural industrial land, and Gujarat Industrial Development Corporation, or GIDC, approved the building plan on October 6, 2025.

How much will Maxwell Engineering Solutions spend on the project?

Maxwell Engineering Solutions estimates total construction and fit-out costs of Rs 7.33 crore, excluding GST and other applicable taxes. It proposes to use Rs 6.50 crore of net issue proceeds and Rs 83.39 lakh from internal accruals, which together equal the disclosed estimate.

Civil construction represents Rs 4.05 crore, or about 55% of the project estimate, while interiors and related costs account for Rs 3.28 crore. The civil amount combines Rs 3.69 crore for main-building work and Rs 36.22 lakh for infrastructure work. J Square & Co. provided the civil estimate on May 8, 2026, with quotation validity of six months from submission.

The interior estimate comprises Rs 2.24 crore for interior works, Rs 31.53 lakh for glass partitions, Rs 66.15 lakh for modular furniture and Rs 5.60 lakh for design consultancy. Green Interior Infrastructure supplied that quotation on May 9, 2026, and its rates are valid for 180 days. The estimate includes 52 shared workstations, 70 workstation or visitor chairs and 33 dining chairs, specifying an office fit-out alongside the proposed manufacturing space.

What will the office and manufacturing building include?

Maxwell Engineering Solutions plans civil works, infrastructure, interiors, glass partitions, furniture and design consultancy for the new building. The civil scope includes excavation, reinforced cement concrete structures, masonry, flooring, plumbing, windows, doors, painting, washroom fittings and two 2,000-litre terrace water tanks.

The largest specified main-building item is Rs 70.52 lakh for 86 metric tonnes of reinforcement steel used in reinforced cement concrete structures. Other disclosed items include Rs 10.80 lakh for 1,200 running metres of polished-granite window and door sills, Rs 10.34 lakh for 159 square metres of aluminium windows and Rs 10.29 lakh for 4,900 square metres of acrylic distemper painting. The construction list also includes one motorised rolling shutter measuring 6 metres by 6 metres.

Interior work includes Rs 63.00 lakh for electrical work across 18,000 square feet and Rs 57.15 lakh for air conditioning across 9,000 square feet. The quotation separately includes Rs 27.47 lakh for baffle ceilings, Rs 15.95 lakh for aluminium framing with rock-wool insulation and medium-density fibreboard skinning, and 2,796 square feet of single-glazed glass partitioning with 16 glazed doors.

The Rs 7.33 crore estimate is not a fully inclusive final cost because quoted civil and interior amounts exclude GST and other applicable taxes. Maxwell Engineering Solutions states that costs outside the estimates will be funded from internal accruals, making the availability of those accruals relevant to completing the stated scope.

When could Maxwell Engineering Solutions complete the expansion?

Maxwell Engineering Solutions expects civil construction to run from November 2026 to June 2027 and interior and other work from June 2027 to November 2027. The schedule assumes that issue proceeds are received by November 2026, and it places the final targeted completion in November 2027.

The planned durations align with the contractors’ indicative estimates but are not contractual commitments. J Square & Co. estimates that civil construction, including infrastructure work, would take about eight to nine months from a work order. Green Interior Infrastructure estimates that interior work and related activity would take about 16 to 18 weeks from an order.

Maxwell Engineering Solutions has a factory licence under the Factories Act, 1948, and says it will file applications for any approvals required at relevant stages. The building-plan approval and industrial classification establish the disclosed site basis, but the timing still depends on receiving proceeds and placing work orders.

What remains unresolved before work begins?

Maxwell Engineering Solutions has not placed orders or entered definitive agreements with contractors or vendors for either civil construction or interior work. The civil quotation is valid for six months and the interior quotation for 180 days, so the quoted suppliers and prices may not remain available when contracts are awarded.

The company may select a vendor whose quotation is lower than the estimates used in the project budget. If actual use of proceeds for an object is lower than planned, the balance may be directed to future growth opportunities and general corporate purposes within the limits of the Securities and Exchange Board of India Issue of Capital and Disclosure Requirements Regulations.

Additional costs, including excluded taxes and other charges, are to be met from internal accruals. The project can therefore follow the November 2026 to November 2027 schedule only if proceeds arrive as assumed, vendors are appointed on workable terms and internal accruals meet costs beyond the quoted Rs 7.33 crore estimate.

Conclusion

Maxwell Engineering Solutions is using an adjacent 1,000-square-metre vacant plot to add 1,558.61 square metres of office and manufacturing space beside a 1,978.19-square-metre facility it says is fully utilised. The Rs 7.33 crore pre-tax plan assigns Rs 4.05 crore to civil construction and Rs 3.28 crore to interiors, partitions, furniture and design.

The next developments to watch are the assumed receipt of issue proceeds by November 2026 and the award of currently unplaced civil and interior contracts. Maxwell Engineering Solutions targets civil completion in June 2027 and completion of interior and related work in November 2027, while quotation expiry and costs beyond the estimates remain unresolved.