Max Estates has announced its audited financial results for the financial year 2026, reporting robust operational performance. The company delivered pre-sales of INR 5,305 crore in FY26, marking the second consecutive year of surpassing the INR 5,000 crore mark. The fourth quarter was a significant contributor, with Q4FY26 pre-sales accounting for approximately INR 3,392 crore. Driven by strong momentum in Noida, Estate 105 alone clocked pre-sales of around INR 1,783 crore within 10 days of its launch in March 2026.

Financial Performance

Consolidated revenue for FY26 stood at INR 199 crore, a growth of 24% year-on-year. The company reported a Profit After Tax (PAT) of INR 15 crore and a Profit Before Tax (PBT) of INR 23 crore. On the operational front, collections grew by 61% year-on-year to reach INR 1,578 crore. The company’s lease rental income from its operational assets increased by 40% YoY to INR 154 crore. Debt as on March 2026 stood at INR 1,855 crore, while cash and cash equivalents were INR 1,758 crore, resulting in a net debt of INR 97 crore.

Operational Metrics

The company achieved a peak annuity income potential of over INR 700 crore across its commercial portfolio. The total Gross Development Value (GDV) pipeline stands at approximately INR 17,200 crore. During the year, the company secured development rights on a prime 7.25-acre land parcel in Sector 59, Gurugram, with a GDV of INR 3,900+ crore. Max Estates has outlined a planned construction spend of over INR 1,500 crore across active residential and commercial projects in FY27.

Commercial Leasing

Max Estates secured significant pre-leasing commitments during the period. At Max District in Gurugram, 200,000 sq. ft. was pre-leased at a 35% premium to the micro-market, locking in rentals of INR 270 crore over three years. Additionally, 86,000 sq. ft. was pre-leased at Max Square Two in Noida at a 25% premium, securing rentals of INR 95 crore over two years. The commercial portfolio remains at 100% occupancy.

Max Estates Limited announced changes to its Board of Directors and internal audit structure following a meeting held on May 22, 2026. The company accepted the resignation of Mr. Anthony Ramsey Malloy, the representative of New York Life International Holdings Ltd. His resignation, effective from the close of business hours on May 22, 2026, stems from his retirement from New York Life Insurance Company.

Consequent to Mr. Malloy's resignation, the office of Ms. Jillian Leigh Moo-Young as Alternate Director to Mr. Malloy ceased effective the same date. To fill the vacancy, the Board appointed Ms. Jillian Leigh Moo-Young as an Additional Director (Non-Executive, Non-Independent), nominated by New York Life International Holdings Ltd. This appointment is subject to shareholder approval. Additionally, Mr. Benjamin Scott Greene was appointed as the Alternate Director to Ms. Moo-Young, effective from May 22, 2026.

Board Appointments and Profiles

Ms. Jillian Leigh Moo-Young brings over 32 years of experience in investment management and financial services to her new role. She currently serves as Managing Director and Head of Alternatives in the Office of the Chief Investment Office at New York Life Insurance Company. Previously, she founded and led the direct alternatives investment platform at AIG/Corebridge Financial. She holds an MBA from Harvard Business School and a BA in Economics from Columbia University.

Mr. Benjamin Scott Greene serves as Director in the Office of the Chief Investment Office at New York Life Insurance Company. He is responsible for underwriting and monitoring new third-party investment mandates. A CFA Charterholder, Mr. Greene received his undergraduate degree from Northwestern University and previously worked at AIG's Asset Management arm and Strategic Wealth Partners.

Other Key Decisions

In addition to the board reshuffle, the company appointed Deloitte Touche Tohmatsu India LLP as its Internal Auditor for the fiscal year 2027. The Board also approved an amendment to the "Code of Conduct to Regulate, Monitor and Report Trading by Designated Persons and their Immediate Relatives and Code of Fair Disclosure." The updated policy has been made available on the company's website.