Starting collaboration through first e-mail. Can it work?
Let's elaborate on my comment in this answer. Here are the issues:


There are just statements in your draft, no actual question.
The tone of the mail is a bit informal for the case you don't know Prof. Y (at least in my opinion). Leaving out the "Greetings" will make it better.


Here's my proposal for the mail:


  Subject: Request for collaboration -- Problem A and Problem B
  
  Dear Prof. Y,
  
  I have learned about you from Prof. X during my works with him.
  
  I have gone through your recent papers: [this] and [this]. Recently, I have worked with Method1 and Method2 which could suitably address your problem. Would you be interested to (Removed: collaborate on [thing] with me?) talk with me about the topic in a phone call or meeting? It would be a pleasure to work with you on this topic.
  
  My recent works can be found in [this profile link].
  
  Looking forward to hearing from you.
  
  Sincerely,
  
  me
  
  -- [my signature]