Max Estates Limited , a prominent player in the Indian real estate sector, has announced ambitious growth plans alongside its robust financial results for the second quarter. The company has set its sights on launching projects worth ₹9,500 crore in FY26, supported by an aggressive acquisition strategy.

Financial Performance

For Q2, Max Estates reported:

• Consolidated revenue of ₹487.73 crore, up from ₹401.78 crore in Q2 of the previous fiscal year
• Profit after tax of ₹78.14 crore, compared to a loss of ₹13.82 crore in the same quarter last year
• EBITDA of ₹101.00 crore, with an EBITDA margin of 20.70%

Expansion Plans

The company has outlined an ambitious roadmap for growth:

• Residential pre-sales target of ₹6,000-₹6,500 crore for FY26
• Projected growth to ₹14,500-₹15,000 crore in residential pre-sales by FY28
• Acquisition of land parcels to support future development

Key Developments

1. Land Acquisition: Max Estates has secured development rights for a 7.25-acre prime land parcel in Sector 59, Gurugram, with a potential gross development value exceeding ₹3,000 crore.

2. Project Pipeline: The company is actively expanding its footprint in the NCR region, with several projects in various stages of development.

3. Strategic Partnerships: Continued collaboration with New York Life Insurance Company for investments in key projects.

Management Commentary

Sahil Vachani, Vice Chairman & Managing Director of Max Estates, stated, "Our strong Q2 results and ambitious FY26 targets reflect our confidence in the market and our execution capabilities. We are strategically positioned to capitalize on the growing demand for high-quality real estate in the NCR region."

Market Outlook

The company's aggressive growth plans come amid a positive outlook for the Indian real estate sector, particularly in the luxury and mid-premium segments. Max Estates' focus on the NCR region aligns with the increasing demand for quality residential and commercial spaces in this high-growth market.

Conclusion

Max Estates' combination of strong financial performance and ambitious growth plans positions the company as a key player to watch in the Indian real estate market. As the company moves forward with its expansion strategy, investors and industry observers will be keenly watching its execution and market impact in the coming quarters.

Max Estates Limited , a leading real estate developer in the National Capital Region (NCR), has reported robust financial results for the second quarter of fiscal year 2026, along with significant progress in its ongoing projects and new acquisitions.

Financial Highlights

For the quarter ended September 30, 2025, Max Estates reported:

• Consolidated revenue of Rs. 487.73 crore, up from Rs. 401.78 crore in Q2 FY25
• Profit after tax of Rs. 78.14 crore, compared to a loss of Rs. 13.82 crore in the same quarter last year
• EBITDA of Rs. 35.95 crore, showing a significant improvement from Rs. 21.38 crore in Q2 FY25

The company's lease rental income saw a substantial increase of 39% year-over-year, reaching Rs. 72.00 crore in H1 FY26.

Project Updates and Acquisitions

Max Estates continues to expand its real estate portfolio with several key developments:

1. Boulevard Projects Private Limited (BPPL): The company completed the acquisition of BPPL on April 23, 2025, for developing a mixed-use plot in Noida. During Q2, Max Estates and New York Life Insurance Company (NYL) subscribed to compulsory convertible debentures in BPPL for Rs. 267.50 crore and Rs. 257.00 crore, respectively.

2. Max Estates Noida Private Limited (MENPL): The company, along with NYL, subscribed to compulsory convertible debentures in MENPL for Rs. 223.30 crore and Rs. 227.00 crore, respectively.

3. Sector 59, Gurugram Acquisition: On September 5, 2025, Max Estates executed a Securities Purchase Agreement to acquire 100% shareholding in Base Buildwell Private Limited. This acquisition includes development rights for a 7.25-acre prime land parcel in Sector 59, Gurugram, with an estimated outlay of Rs. 534.00 crore.

4. Ongoing Projects: The company reported progress on various projects, including Estate 128 in Noida and Estate 360 in Gurugram, with construction advancing as per schedule.

Capital Raising and Fund Utilization

Max Estates successfully raised funds through a Qualified Institutional Placement (QIP) and a preferential issue:

• QIP proceeds of Rs. 800.00 crore: Rs. 599.84 crore utilized for land acquisition and development rights, with Rs. 50.16 crore remaining unutilized.
• Preferential issue of Rs. 150.00 crore: Rs. 27.47 crore utilized for land acquisition through subsidiary Max Estates Noida Private Limited.

Management Commentary

Sahil Vachani, Vice Chairman & Managing Director of Max Estates, stated, "Our Q2 FY26 results demonstrate the strength of our business model and the growing demand for quality real estate in the NCR. The strategic acquisitions and project advancements position us well for sustained growth in the coming years."

Future Outlook

With a strong project pipeline and strategic land acquisitions, Max Estates is poised for continued growth in the NCR real estate market. The company's focus on premium residential and commercial developments, coupled with its robust financial performance, indicates a positive outlook for the future.

Investors and stakeholders will be watching closely as Max Estates continues to execute its growth strategy and capitalize on the opportunities in the real estate sector.