MAXESTATES · Max Estates Ltd · Real Estate Operations
MAXESTATES · Max Estates Ltd · Real Estate Operations
As of 05 Nov close
52-week range
21.6% below 52-week high
52-week range: as of 05 Nov 2026 close.
Price chartDaily closes on the stock page.
Weighted combination of 8 measured readings. Not a probability, a rating or a forecast.
Full signal detail →Fundamentals as of 15 Sep 2026 · the company's own latest record is 52 days old
Revenue (latest Q)
₹52 Cr
Revenue YoY
PAT YoY
-30.0%
Operating margin
Revenue, last 8 quarters
P/E (TTM)
P/B
3.9
P/S (TTM)
45.9
Sector P/E
14.4
Dividend yield
0.0%
| Company | P/E | P/B | Net margin | ROE | D/E | Div. yield |
|---|---|---|---|---|---|---|
| MAXESTATES (this stock) | 762.1 | 3.9 | +4.2% | +0.3% | 1 | 0.0% |
| Prestige Estates Projects | 61 | 4.5 | +10.3% | +7.5% | 48.73 | +0.1% |
| Embassy Office Parks Reit | 54.6 | 2.1 | +20.3% | +4.3% | 83.5 | +5.6% |
| Nexus Select Trust | 62.2 | 1.9 | +15.7% | +3.0% | 45.44 | +5.5% |
Promoter
stable
FII
stable
MF
8.05% (+0.54pp)
rising 1q
Insider trades
No insider trades in the last 12 months.
Bulk/block deals
No bulk/block deals in the last 12 months.
News timeline
- mediumcorporate actioneconomictimes.indiatimes.com· 17 Oct 2026, 03:17 pmDLF signs agreement to add 7.48 acre land on Golf Course Extension road in Gurgaon
- loweconomictimes.indiatimes.com· 06 Sept 2026, 09:04 pmGurugram luxury housing lines up Rs 1 lakh crore festive launch pipeline
Concalls & investor presentations
AI-generatedKey takeaway: Max Estates Limited reported strong Q1 FY '27 results, with pre-sales of approximately Rs. 1,100 crores, a 5x year-on-year growth, driven by the full sellout of Phase-1 of the Terraces at Estate 361 Gurgaon and sustained sales across existing projects. Collections for the quarter were around Rs. 575 crores, consistent with historical ranges. The company's residential pipeline stands at Rs. 16,100 crores, with Rs. 4,000 crores already launched and available for sale in FY '27, and Rs. 12,000 crores planned for new launches. Commercial assets, including Max Towers, Max House, and Max Square, remain 100% occupied, with Max Towers commanding a 50% premium over market rates. The company received an A+ credit rating from ICRA with a stable outlook, reflecting strong cash flow adequacy and contracted receivables. Management emphasized confidence in execution and pipeline visibility, though it refrained from providing forward guidance due to market volatility. The company also highlighted ongoing business development efforts in Gurgaon, Delhi, and Noida, with potential expansion into Ghaziabad, Jewar, and Faridabad under evaluation. The discussion included details on the Antara partnership, where Antara acts as a development manager with a 9.5% fee on the topline for senior living components, and the company's strategy of maintaining a 40% equity stake in commercial projects with the remainder financed through debt.
The document highlights strong sales growth, high occupancy rates, and a positive credit rating, indicating a positive tone.
Sourced from an exchange-filed transcript, dated 21 Aug 2026. Summary is RedixFi-generated and distinct from investment advice.
Key takeaway: Max Estates Limited conducted its Q4 FY26 earnings conference call on May 26, 2026, where management provided insights into the company's performance and market conditions. Management reported that the Delhi NCR residential market moderated in 2026, yet Max Estates achieved presales of INR5,305 crores for the year, marking the second consecutive year above INR5,000 crores. The commercial segment saw a 36% quarter-on-quarter increase in office leasing, with significant rental growth in NCR. Management highlighted a strong collection performance, with INR1,578 crores collected for the year, reflecting a 61% year-on-year increase. The company reported a total revenue from launch projects yet to be recognized at INR16,310 crores, with a substantial portion already contracted. Management emphasized a strong balance sheet with a net debt of approximately INR100 crores and outlined plans for future launches and business development in the NCR region.
Management emphasized strong performance metrics and a solid market position.
Sourced from an exchange-filed transcript, dated 01 Jun 2026. Summary is RedixFi-generated and distinct from investment advice.
Key takeaway: Max Estates Limited conducted its Q3 FY '26 Earnings Conference Call on February 10, 2026, to discuss its financial performance. Management reported the launch of Estate 361 in Gurgaon, with a gross development value of approximately INR 2,500 crores and presales exceeding INR 1,900 crores. The average price realization for this project was INR 22,000 per square foot. Management highlighted a strong leasing momentum in its commercial portfolio, including a long-term lease for 200,000 square feet at Max District, generating gross rentals of over INR 270 crores. The company aims to add 1 million to 2 million square feet in residential and commercial segments annually. Financially, consolidated revenue for the first nine months of FY '26 was INR 150 crores, with a profit after tax of INR 20 crores. Management expressed confidence in achieving sales guidance and maintaining a robust pipeline for future projects.
Management emphasized strong demand and positive market response.
Sourced from an exchange-filed transcript, dated 16 Feb 2026. Summary is RedixFi-generated and distinct from investment advice.
AI Summary of Annual Report
AI-generatedMax Estates Limited (MAXESTATES) reported significant business developments in FY2023-24, including the completion of Max Square, a 3rd commercial office development, and the acquisition of land parcels in Noida and Gurgaon for residential and commercial projects. The company expanded its portfolio to 8 mn sq.ft., with plans to add 3 mn sq.ft. annually to both commercial and residential segments. The company also received approval for its Resolution Plan for Delhi One, pending Noida Authority approval. No material defaults, regulatory penalties, or liquidity issues were noted, and the company maintained compliance with statutory requirements. The Board affirmed adherence to the Code of Conduct and no related party transactions posed conflicts.
- Completed Max Square, a 3rd commercial office development, in February 2023.
- Acquired 10-acre land in Noida (Sector 128) and 7.15-acre parcel in Gurgaon (Golf Course Extension Road) for residential and commercial projects.
- Portfolio expanded to 8 mn sq.ft., with targets to add 3 mn sq.ft. annually to commercial and residential portfolios.
- NCLT approved Resolution Plan for Delhi One (~2.5-3 mn sq.ft.), pending Noida Authority approval.
- No defaults, regulatory penalties, or liquidity issues reported; statutory compliance maintained.
Key takeaway: Max Estates Limited expanded its real estate portfolio significantly in FY2023-24, with strategic acquisitions and project completions, while maintaining compliance and no material financial or regulatory risks.
The following annual report excerpts provide qualitative strategic context. Do not treat any specific financial figures in these excerpts as authoritative — they may be incorrectly labeled due to PDF table extraction limitations. For precise financial data, refer to the structured fundamentals data above.
Governance disclosures
AI-generatedNeeds attention
No item of a kind that needs attention was stored for this company.
Contingent Liability
4 occurrencesRecent (last 12 months)
The company has a contingent liability related to a notice under Section 25(7) of the Value Added Tax Act, 2005 for the assessment year 2016-17, involving a taxable turnover of ₹ 3,261.22 lakhs and expenses of ₹ 4,024.49 lakhs.
Earlier (1-3 years ago)
The company has a contingent liability of ₹21.24 lakhs related to a tax demand under Section 25(7) of the Value Added Tax Act, 2005 for the assessment year 2016-17.
Max Estates Limited has a bank guarantee of Rs. 5,000 lakhs issued in favor of Acre 133 Trust, Asset Care and Reconstruction Enterprise Limited for the Delhi One project. The company has filed an appeal in NCLAT on 11 April 2023 regarding certain fundamental reliefs needed for implementing the resolution plan.
The company has provided guarantees for loans taken by its subsidiaries, including Rs. 24,603.34 Lakhs for Max Towers Private Limited from HDFC Bank Limited and ICICI Bank, Rs. 4,016.20 Lakhs for Pharmax Corporation Limited from IDFC First Bank Limited, Rs. 21,998.13 Lakhs for Max Square Limited from Axis Bank, and Rs. 14,839.00 Lakhs for Max 128 Limited as of March 31, 2023.
Related-Party Transaction
4 occurrencesRecent (last 12 months)
The company approved material related party transactions between Antara Senior Living Limited and Max Estates Gurgaon Limited, and other related party transactions involving share pledges and subscriptions.
Earlier (1-3 years ago)
During FY2025, the Company entered into related party transactions that qualified as material under Regulation 23 of the Listing Regulations, and necessary approvals were taken from the shareholders where applicable.
The company obtained approval for a material related party transaction between itself and Max Square Limited during FY 2023-24.
The company provided guarantees for loans taken by its subsidiary, Max Square Limited, for business purposes. The guarantee was given to IndusInd Bank.
Statutory dues in dispute
2 occurrencesEarlier (1-3 years ago)
MAX ESTATES LIMITED has not deposited Uttarakhand VAT for AY 2016-17 due to a dispute, with the amount pending before the Joint Commissioner (Appeals).
The company has not deposited value added tax dues amounting to Rs. Lakhs under the Uttarakhand VAT Act, 2005 for AY 2016-17, with a dispute pending at an unspecified forum.