Max India Limited announced that its wholly owned subsidiary, Antara Senior Living Limited (ASLL), has joined the SCALE initiative as a founding industry partner. The collaboration with the Indian School of Business (ISB) aims to strengthen the evidence base for India's growing senior population.

The SCALE (Senior Care Advancement Through Learning and Evidence) initiative is a partnership between the Max India Foundation and the Max Institute of Healthcare Management at ISB. Supported by a multi-year CSR grant from the Max India Foundation, the program seeks to bridge the gap between fragmented industry insights and academic research. It focuses on generating data to assist stakeholders and policymakers in making informed decisions regarding senior care.

Strategic focus areas

The initiative will examine critical aspects of the senior care ecosystem, including consumer behaviour, workforce participation, social inclusion, and operating models. Antara Senior Care brings real-world experience from its integrated continuum of care, covering senior living, care homes, wellness, and chronic disease management products.

Key areas of research and engagement under SCALE include:

• Consumer behaviour and social inclusion dynamics
• Workforce participation strategies in the care sector
• Operating models and their financing mechanisms
• Technology adoption in senior care delivery

Leadership perspectives

Tara Singh Vachani, Managing Trustee of Max India Foundation and Executive Chairperson of Antara Senior Care, emphasized the demographic transition in India. She noted that as lifespan improves, seniors seek greater health, independence, and dignity. The initiative aims to translate research into more effective care models and stronger support systems.

Professor Sarang Deo, Executive Director at the Max Institute of Healthcare Management, ISB, highlighted the need to rethink system designs for seniors. He stated that SCALE brings a management and evidence-based perspective to address challenges across financing, technology, and producer behaviour.

Antara Senior Care footprint

Launched in 2013, Antara is part of the USD 6.3 billion Max Group. The company operates two main business lines: Residences for Seniors and Assisted Care Services. Its current infrastructure includes:

The company also operates AGEasy, a direct-to-consumer arm for senior-specific products, which has touched over 9 lakh lives since its inception in 2023. Additionally, Antara Integrated Wellness Clinic offers personalized care plans combining modern medicine with traditional therapies.

Max India Limited uploaded the transcript of its investors and analysts conference call on August 19, 2026, providing detailed commentary on its financial results for the quarter ended June 30, 2026. The filing, made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, confirms that consolidated revenue grew 66% year-on-year to ₹68.6 crore from ₹41.3 crore in Q1FY26.

The company reported an EBITDA loss of ₹25 crore for Q1FY27, compared to ₹23.2 crore in the same quarter last year and ₹6.8 crore in Q4FY26. Management attributed the widening loss primarily to the lumpy nature of development management (DM) income, noting that an exceptional DM fee received in the previous quarter had temporarily improved profitability. Despite the loss, management highlighted a long-term trajectory toward profitability, citing reduced EBITDA losses from ₹139 crore in FY25 to ₹121 crore in FY26 as revenues scaled.

Operational Milestones

A key operational update was the issuance of possession offers to all 340 residents at the Antara Noida community in June 2026. This milestone is expected to operationalize the first community in the National Capital Region within 30 to 45 days. The company raised demand worth approximately ₹169 crore with these offers, collecting over ₹30 crore in June alone. As of the reporting date, approximately 75% of total dues have been collected.

In Gurgaon, the Estate 360 project developed by Max Estates remains fully sold out, with cumulative collections reaching ₹556 crore since inception. The second intergenerational project, E361, saw bookings recover in July and August after a sluggish Q1, with total collections standing at ₹108.2 crore since inception. Management noted that sales velocity has returned to normalcy despite earlier geopolitical headwinds.

Segment Performance

The Antara Assisted Care segment reported revenue of ₹12.03 crore, up 1.5 times year-on-year. Occupancy rates improved across multiple locations, with Bannerghatta (Bangalore) rising from 37% to 41% and Gurugram from 33% to 41%. Occupied bed days (OBDs) increased by 23% quarter-on-quarter. Four care homes achieved an average revenue per occupied bed day exceeding ₹7,000 in June 2026.

AGEasy, the consumer products arm, posted net revenue of ₹19 crore in Q1FY27, representing 1.3 times year-on-year growth but a decline from ₹23 crore in Q4FY26 due to post-festive season moderation. However, the annual revenue run rate (ARR) improved to approximately ₹120 crore by July, with return on ad spend (ROAS) improving to 2.0 from 1.8 in the previous quarter. The segment has launched 112 products, with 86 currently live, and has served approximately 9 lakh lives to date.

Financial Position

As of June 30, 2026, treasury assets at the Max India level stood at ₹21 crore, with a consolidated net worth of ₹372 crore. Management indicated that while capital requirements remain around $20 million for future expansion, recent collections from Noida possessions and a ₹40 crore tranche from a preference share issue have helped manage working capital needs without immediate additional fundraising.

The transcript was signed by Trapti, Company Secretary and Compliance Officer, confirming the authenticity of the disclosure on August 19, 2026.