| Quarterly Financials | Jun 2022 | Sept 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sept 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 |
Revenue  | 34 | 33 | 36 | 29 | 24 | 28 | 31 | 39 | 48 | 53 | 72 | 77 | 80 | 75 |
| Expenses | 19 | 19 | 22 | 16 | 60 | 20 | 18 | 22 | 25 | 32 | 29 | 31 | 38 | 39 |
| EBITDA | 15 | 14 | 14 | 13 | -36 | 8 | 13 | 16 | 22 | 21 | 43 | 47 | 43 | 36 |
| Operating Profit % | 32 % | 30 % | 24 % | 33 % | -226 % | 3 % | 26 % | 26 % | 38 % | 21 % | 29 % | 23 % | 27 % | 21 % |
| Depreciation | 4 | 4 | 4 | 4 | 4 | 6 | 7 | 8 | 9 | 8 | 8 | 9 | 8 | 8 |
| Interest | 4 | 5 | 5 | 5 | 4 | 11 | 14 | 14 | 17 | 14 | 15 | 17 | 17 | 16 |
| Profit Before Tax | 8 | 5 | 5 | 4 | -44 | -9 | -8 | -6 | -3 | -1 | 20 | 21 | 17 | 12 |
| Tax | 1 | 1 | 2 | -0 | -6 | -5 | -1 | -2 | -1 | 0 | 5 | 7 | 5 | 4 |
| Net Profit | 6 | 4 | 4 | 5 | -38 | -5 | -8 | -5 | -2 | -1 | 16 | 14 | 12 | 8 |
| EPS in ₹ | 0.80 | 0.34 | 0.27 | 0.36 | -2.61 | -0.31 | -0.21 | -0.32 | -0.14 | -0.09 | 1.04 | 0.90 | 0.74 | 0.49 |
Max Estates
Max Estates
481.65
-3.05
(-0.63%)
Market Cap
₹7,756.80 Cr
PE Ratio
149.74
Volume
88,930.00
Day High - Low
₹491.00 - ₹475.00
52W High-Low
₹630.00 - ₹341.10
Key Fundamentals
Market Cap
7,756.80 Cr
EPS
1.70
PB Ratio
3.23
Book Value
141.88
EBITDA
133.60
Dividend Yield
0.00 %
Industry
Realty ROE Growth %
-
Debt to Equity
0.77
Analyst Rating and Forecast
- By Refinitiv from4 analysts
Actual
Company News
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Max Estates Reports 24% Revenue Growth, Plans Three Major Project Launches Worth INR 9,500 Crores
Nov 08, 2025
Nov 08, 2025Max Estates Limited reported consolidated revenue of INR 100 crores for the first half of FY26, marking 24% year-on-year growth. The company achieved 100% occupancy across all operational commercial assets with lease rental income growing 41% to INR 76 crores. Max Estates has recorded cumulative presales of over INR 7,500 crores to date, with Estate 128 generating INR 2,700 crores and Estate 360 achieving INR 4,800 crores in presales. The company plans to launch three projects in the second half with combined GDV of INR 9,500 crores: Estate 361 in Gurgaon (INR 4,500 crores), Sector 105 in Noida (INR 3,000 crores), and Max One/Delhi One (INR 2,000 crores). Management expects presales of INR 6,000-6,500 crores in FY26, representing 15-20% growth. The company recently acquired development rights for a 7.25-acre parcel in Sector 59 Golf Course Extension Road, Gurgaon, with anticipated GDV exceeding INR 3,000 crores. Max Estates achieved dual 5-star GRESB rating and maintains cash and cash equivalents of INR 1,900 crores with net cash balance of INR 350 crores.
Max Estates has set ambitious targets for its upcoming financial years. The company aims to launch projects worth ₹9,500 crore in FY26, supported by accelerated acquisition plans. The real estate developer expects residential pre-sales to reach ₹6,000-₹6,500 crore in FY26 and further grow to ₹14,500-₹15,000 crore by FY28.
Max Estates Reports Monitoring Agency Reports for QIP and Preferential Issue Proceeds UtilizationNov 04, 2025
Nov 04, 2025Max Estates Limited disclosed monitoring agency reports from CARE Ratings Limited for proceeds utilization from its Qualified Institutional Placement (QIP) of Rs. 800 crore and Preferential Issue of Rs. 150 crore for the quarter ended September 30, 2025. The QIP proceeds were primarily utilized for land acquisition, with Rs. 87.86 crore deployed during the quarter towards land acquisition in Sector 105, Noida, and settlement of liabilities for the Delhi One project. The company reported no deviation from stated objects for both issues. From the preferential issue, Rs. 27.47 crore was utilized for land acquisition through subsidiary Max Estates Noida Private Limited. The company's Board also approved quarterly results showing total income of Rs. 5,561.95 lakhs and profit after tax of Rs. 1,932 lakhs for the quarter. The monitoring reports indicate delays in implementation timelines but confirm funds are being used for stated purposes.
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Peer Comparison Compare Peers on Screener
Competitors | LTP | Market Cap (₹ Cr.) | P/E Ratio | Revenue (₹ Cr.) | YoY Revenue Growth % | Net Profit (₹ Cr.) | YoY Profit Growth % | RSI |
|---|---|---|---|---|---|---|---|---|
712.50 | #1 1,76,366.20 | 42.79 | 8,995.90 | 29.28 | 2,695 | -14.56 | 32.46 | |
1,128.20 | 1,12,645.52 | 36.03 | #1 14,169.80 | 35.34 | #1 2,767 | 86.67 | 32.56 | |
1,659.20 | 71,466.76 | 87.65 | 7,735.50 | -17.93 | 617 | 94.97 | 43.58 | |
2,096.50 | 63,147.91 | 41.57 | 6,967.00 | 60.74 | 1,389 | 20.73 | 42.76 | |
1,729.90 | 61,859.71 | 43.68 | 3,964.50 | -3.54 | 1,302 | 31.45 | 54.18 | |
1,618.90 | 58,863.57 | #1 27.77 | 5,474.20 | 13.60 | 2,226 | 29.00 | 37.37 | |
898.80 | 21,974.14 | 27.78 | 5,313.50 | 4.92 | 681 | 47.96 | 38.26 | |
572.70 | 19,658.54 | 45.14 | 2,100.30 | 38.11 | 422 | 30.75 | 36.88 | |
1,530.90 | 16,369.04 | 112.08 | 4,162.80 | 29.36 | 95 | #1 177.78 | 44.63 | |
1,132.40 | 15,911.43 | 203.08 | 2,638.00 | #1 99.15 | 101 | -1,216.67 | 59.51 |
Automatic Screeners on ScanX
Growth Rate
Revenue Growth
107.56 %
Net Income Growth
-147.91 %
Cash Flow Change
-16.88 %
ROE
-126.05 %
ROCE
-292.08 %
EBITDA Margin (Avg.)
42.67 %
Quarterly Financial Results
Balance Sheet
| Balance Sheet | 2022 | 2023 | 2024 | 2025 |
| Total Assets | 1,025 | 2,227 | 3,101 | 7,246 |
| Fixed Assets | 898 | 1,427 | 1,826 | 2,047 |
| Current Assets | 98 | 569 | 994 | 4,218 |
| Capital Work in Progress | 0 | 0 | 0 | 0 |
| Investments | 13 | 160 | 93 | 587 |
| Other Assets | 115 | 640 | 1,183 | 4,612 |
| Total Liabilities | 1,025 | 2,227 | 3,101 | 7,246 |
| Current Liabilities | 57 | 130 | 643 | 2,107 |
| Non Current Liabilities | 325 | 844 | 1,008 | 2,478 |
| Total Equity | 643 | 1,254 | 1,451 | 2,661 |
| Reserve & Surplus | -41 | 1,064 | 1,023 | 2,080 |
| Share Capital | 78 | 0 | 147 | 161 |
Cash Flow
| Cash Flow | 2022 | 2023 | 2024 | 2025 |
| Net Cash Flow | -2 | 13 | 213 | -2 |
| Investing Activities | -121 | -52 | -292 | -1,993 |
| Operating Activities | 41 | -456 | 271 | 225 |
| Financing Activities | 78 | 521 | 234 | 1,766 |
Share Holding
| % Holding | Oct 2023 | Mar 2024 | Jun 2024 | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 |
| Promoter | 49.51 % | 49.51 % | 49.42 % | 45.26 % | 45.25 % | 45.25 % | 45.24 % | 45.24 % |
| FIIs | 21.26 % | 27.61 % | 27.54 % | 27.55 % | 27.78 % | 27.43 % | 27.12 % | 26.60 % |
| DIIs | 0.00 % | 0.26 % | 0.04 % | 5.78 % | 5.79 % | 6.30 % | 6.27 % | 6.79 % |
| Government | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % |
| Public / Retail | 15.24 % | 15.21 % | 15.52 % | 14.15 % | 14.14 % | 14.09 % | 14.36 % | 14.30 % |
| Others | 13.99 % | 7.41 % | 7.48 % | 7.26 % | 7.03 % | 6.93 % | 7.00 % | 7.07 % |
| No of Share Holders | 24,917 | 25,073 | 26,305 | 26,941 | 28,378 | 30,079 | 31,058 | 32,113 |
Corporate Action
| Record Date | Corporate Action | Information | Announcement Day | LTP at Annoucement | LTP at Record Day |
|---|---|---|---|---|---|
| 22 Dec 2023 |  Annual General Meeting | NA | 22 Dec 2023 | 306.45 | 315.45 |
| 23 Aug 2024 | Annual General Meeting | NA | 23 Aug 2024 | 556.35 | 636.20 |
| 25 Oct 2024 |  Quarterly Result Announcement | NA | 25 Oct 2024 | 609.85 | 567.90 |
| 07 Feb 2025 | Quarterly Result Announcement | NA | 07 Feb 2025 | 508.30 | 527.60 |
| 22 May 2025 | Quarterly Result Announcement | NA | 22 May 2025 | 413.35 | 461.55 |
| 08 Aug 2025 | Quarterly Result Announcement | NA | 08 Aug 2025 | 469.50 | 450.15 |
| 18 Sept 2025 | Annual General Meeting | NA | 18 Sept 2025 | 457.05 | 472.60 |
| 03 Nov 2025 | Quarterly Result Announcement | NA | 03 Nov 2025 | 471.95 | 466.90 |
Announcements
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation4 days ago
4 days agoAnnouncement under Regulation 30 (LODR)-Earnings Call TranscriptNov 07, 2025
Nov 07, 2025Announcement under Regulation 30 (LODR)-Newspaper PublicationNov 05, 2025
Nov 05, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - OutcomeNov 04, 2025
Nov 04, 2025Announcement under Regulation 30 (LODR)-Investor PresentationNov 03, 2025
Nov 03, 2025Announcement under Regulation 30 (LODR)-Monitoring Agency ReportNov 03, 2025
Nov 03, 2025Unaudited Standalone And Consolidated Financial Results Of The Company For The Quarter And Half Year Ended September 30 2025Nov 03, 2025
Nov 03, 2025Board Meeting Outcome for Unaudited Standalone And Consolidated Financial Results Of The Company For The Quarter And Half Year Ended September 30 2025Nov 03, 2025
Nov 03, 2025Announcement under Regulation 30 (LODR)-Change in ManagementOct 30, 2025
Oct 30, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationOct 30, 2025
Oct 30, 2025Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPSOct 29, 2025
Oct 29, 2025Board Meeting Intimation for Consideration Of Unaudited Financial Results Of The Company For The Quarter And Half Year Ended September 30 2025.Oct 28, 2025
Oct 28, 2025Announcement under Regulation 30 (LODR)-AllotmentOct 10, 2025
Oct 10, 2025Announcement under Regulation 30 (LODR)-Press Release / Media ReleaseOct 10, 2025
Oct 10, 2025Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations 2018Oct 09, 2025
Oct 09, 2025Closure of Trading WindowSep 30, 2025
Sep 30, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationSep 23, 2025
Sep 23, 2025Shareholder Meeting / Postal Ballot-Scrutinizers ReportSep 19, 2025
Sep 19, 2025Shareholder Meeting / Postal Ballot-Outcome of AGMSep 18, 2025
Sep 18, 2025Announcement under Regulation 30 (LODR)-Press Release / Media ReleaseSep 06, 2025
Sep 06, 2025Announcement under Regulation 30 (LODR)-AcquisitionSep 06, 2025
Sep 06, 2025Announcement under Regulation 30 (LODR)-Credit RatingAug 29, 2025
Aug 29, 2025Announcement under Regulation 30 (LODR)-Newspaper PublicationAug 28, 2025
Aug 28, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationAug 28, 2025
Aug 28, 2025Dispatch Of Letter To Members Whose E-Mail Addresses Are Not Registered With Company/Registrar & Transfer Agent/Depository ParticipantsAug 28, 2025
Aug 28, 2025Business Responsibility and Sustainability Reporting (BRSR)Aug 27, 2025
Aug 27, 2025Reg. 34 (1) Annual Report.Aug 27, 2025
Aug 27, 2025Notice For 9Th AGM And Integrated Annual Report For FY2025Aug 27, 2025
Aug 27, 2025Announcement under Regulation 30 (LODR)-Newspaper PublicationAug 27, 2025
Aug 27, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationAug 20, 2025
Aug 20, 2025Announcement under Regulation 30 (LODR)-Earnings Call TranscriptAug 14, 2025
Aug 14, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - OutcomeAug 11, 2025
Aug 11, 2025Announcement under Regulation 30 (LODR)-Newspaper PublicationAug 11, 2025
Aug 11, 2025Announcement under Regulation 30 (LODR)-Investor PresentationAug 08, 2025
Aug 08, 2025Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPSAug 08, 2025
Aug 08, 2025Announcement under Regulation 30 (LODR)-AcquisitionAug 08, 2025
Aug 08, 2025Announcement under Regulation 30 (LODR)-Monitoring Agency ReportAug 08, 2025
Aug 08, 2025Unaudited Standalone And Consolidated Financial Results Of The Company For The Quarter Ended June 30 2025Aug 08, 2025
Aug 08, 2025Unaudited Standalone And Consolidated Financial Results Of The Company For The Quarter Ended June 30 2025Aug 08, 2025
Aug 08, 2025Board Meeting Outcome for Unaudited Standalone And Consolidated Financial Results Of The Company For The Quarter Ended June 30 2025Aug 08, 2025
Aug 08, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationAug 06, 2025
Aug 06, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationAug 06, 2025
Aug 06, 2025Announcement under Regulation 30 (LODR)-Change in ManagementAug 05, 2025
Aug 05, 2025Board Meeting Intimation for Prior Intimation - Board Meeting For Consideration Of Unaudited Financial Results Of The Company For The Quarter Ended June 30 2025.Aug 04, 2025
Aug 04, 2025Announcement under Regulation 30 (LODR)-Change in ManagementAug 03, 2025
Aug 03, 2025Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPSJul 29, 2025
Jul 29, 2025Max Estates Limited Has Informed The Exchange In Continuation Of Earlier Intimation Dated March 27 2025 Regarding The Execution Of A Binding Memorandum Of Understanding With New York Life Insurance Company That The Company And New York Life Insurance CompJul 18, 2025
Jul 18, 2025Shareholder Meeting / Postal Ballot-Outcome of Postal_BallotJul 11, 2025
Jul 11, 2025 Shareholder Meeting / Postal Ballot-Scrutinizer"s ReportJul 11, 2025
Jul 11, 2025Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations 2018Jul 04, 2025
Jul 04, 2025Mutual Fund Holdings
Bandhan Small Cap Fund Direct-Growth 
Invesco India Flexi Cap Fund Direct - Growth 
ITI Flexi Cap Fund Direct - Growth 
Motilal Oswal Nifty Microcap 250 Index Fund Direct - Growth 
Groww Nifty Total Market Index Fund Direct - Growth 
Angel One Nifty Total Market Index Fund Direct - Growth 
Mirae Asset Nifty Total Market Index Fund Direct-Growth 
Kotak Small Cap Fund Direct-Growth 
Nippon India Multi Asset Allocation Fund Direct - Growth 
PGIM India Small Cap Fund Direct - Growth Technical Indicators
RSI(14)
Neutral 60.81
ATR(14)
Less Volatile 15.95
STOCH(9,6)
Neutral 62.73
STOCH RSI(14)
Overbought 96.35
MACD(12,26)
Bullish 1.67
ADX(14)
Weak Trend 18.51
UO(9)
Bearish 57.92
ROC(12)
Uptrend And Accelerating 2.58
WillR(14)
Overbought -6.89
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