Max Estates Ltd

The company's net revenue for Q4 FY26 increased 24.25% year-on-year to Rs 49.43 crore. During the quarter, Max Estates reported a negative EBITDA of Rs 3.4 crore, against a positive EBITDA of Rs 9.1 crore in Q4 FY25. EBITDA margin stood at negative 6.9%, compared with 22.8% in the year-ago period. Pre-tax loss for the quarter came in at Rs 6.17 crore, as against a profit before tax of Rs 21.28 crore reported in the corresponding period last year. On the operational front, total leased area as of 31 March 2026 stood at 1.23 million square feet. Lease rental income from Max Towers, Max House (Phase I & II), and Max Square rose 40% year-on-year to Rs 154 crore in FY26. The company said its total debt as of March 2026 stood at Rs 1,855 crore, including lease rental discounting (LRD) borrowings of Rs 973 crore. Cash and cash equivalents were at Rs 1,758 crore, resulting in a net debt position of Rs 97 crore. Collections during FY26 rose 61% year-on-year to Rs 1,578 crore, with Q4 FY26 contributing Rs 650 crore. The company said its payment plans remain evenly structured across project lifecycles, enabling residential construction without debt dependency. For the full financial year FY26, Max Estates reported a 40.63% decline in consolidated net profit to Rs 15.69 crore, while revenue increased 24.27% to Rs 199.45 crore compared with FY25. Sahil Vachani, Vice Chairman & MD of Max Estates, said, Delhi-NCR's residential market moderated in 2026 amid global uncertainty and cautious sentiment, yet Max Estates crossed Rs 5,300 crore in pre-sales for the second consecutive year, affirming the strength of our platform and the trust our customers continue to place in us. As we enter FY27, a GDV pipeline of over Rs 17,200 crore, net debt of Rs 97 crore and annuity rental potential of Rs 700+ crore position us well for sustained growth. We will continue to build with purpose and deliver experiences that make a positive and meaningful impact.' Max Estates is the real estate arm of the Max Group. The company develops premium commercial and residential spaces in Delhi NCR. The company has developed a very well-diversified portfolio of real estate across the two asset classes in Delhi NCR and in this pursuit, has partnered with New York Life Insurance Company (NYL), particularly for the commercial office platform. The counter rose 1.57% to Rs 435.70 on the BSE. Powered by Capital Market - Live

Net loss of Max Estates reported to Rs 5.01 crore in the quarter ended March 2026 as against net profit of Rs 17.34 crore during the previous quarter ended March 2025. Sales rose 24.26% to Rs 49.43 crore in the quarter ended March 2026 as against Rs 39.78 crore during the previous quarter ended March 2025. For the full year,net profit declined 69.35% to Rs 12.51 crore in the year ended March 2026 as against Rs 40.81 crore during the previous year ended March 2025. Sales rose 24.28% to Rs 199.45 crore in the year ended March 2026 as against Rs 160.49 crore during the previous year ended March 2025. ParticularsQuarter EndedYear EndedMar. 2026Mar. 2025% Var.Mar. 2026Mar. 2025% Var. Sales49.4339.78 24 199.45160.49 24 OPM %-6.4722.78 -11.9027.66 - PBDT1.7630.03 -94 55.6671.72 -22 PBT-6.1721.28 PL 23.2537.62 -38 NP-5.0117.34 PL 12.5140.81 -69 Powered by Capital Market - Live

Max Estates will hold a meeting of the Board of Directors of the Company on 22 May 2026.

The project is part of Estate 361, positioned along the Dwarka Expressway growth corridor in Gurugram. The project is designed as an integrated community concept that combines smart residences, shared terraces, wellness spaces, nature-centric living and managed lifestyle services. 'The Terraces' offers 1.5-bedroom and 2-bedroom smart homes along with duplex loft residences. The project forms part of Estate 361, a larger 18.23-acre mixed residential development with an overall GDV of Rs 9,000 crore. Phase 1 of The Terraces comprises 120 residences, with prices starting at Rs 2.4 crore. Sahil Vachani, vice chairman & managing director, Max Estates, said: 'At Max Estates, we believe homes should evolve with the way people live. Estate 361 is that vision - a fully intergenerational community, built on four decades of the Max Group's ecosystem of care, designed for every stage of life. The Terraces is its most vibrant expression. Its eight shared terraces bring leisure, wellness and community directly into the building - because for us, it is not just about helping people live well but helping them live longer.' Max Estates is the real estate arm of the Max Group. The company develops premium commercial and residential spaces in Delhi NCR. The company has developed a very well diversified portfolio of real estate across the two asset classes in Delhi NCR and in this pursuit has partnered with New York Life Insurance Company (NYL) particularly for commercial office platform. The company's consolidated net profit tumbled 99.87% to Rs 0.02 crore despite a 24.3% increase in revenue from operations to Rs 49.77 crore in Q3 FY26 over Q3 FY25. The scrip fell 0.76% to settle at Rs 391.90 on the BSE.Powered by Capital Market - Live

Max Estates has launched The Terraces, its newest residential offering within Estate 361 in Sector 36A, Dwarka Expressway, Gurugram. Designed for people who want more from home than just private square footage. The Terraces brings together smart residences, shared terraces, wellness, nature and managed living within one integrated community. The Terraces offers 1.5 & 2-bedroom smart homes and duplex loft residences. The project has a gross development value of Rs 1,200 crore and is part of Estate 361, which has an overall GDV of Rs 9,000 crore spanning 18.23 acres. Phase 1 of The Terraces comprises 120 residences starting at Rs 2.4 crore.

Max Estates has launched a movement-first residential community, Estate 105 [RERA No.: UPRERAPRJ529777/03/2026], located in Sector 105, Noida. Estate 105 is part of a larger ~10.33 acre planned development, with the first phase estimated to have Gross Development Value (GDV) of Rs 3,000 crore. Estate 105 is a low-density, movement-first residential community designed to nurture well being and vitality, focusing on the need to relook at how movement is integrated into everyday life. Estate 105 is an IGBC Platinum pre-certified residential community designed to meet the highest standards of sustainable living with 270 homes across 2 residential towers. It features 2.5 acres of car-free biophilic landscape and has one of its kind elevated walkway in Delhi NCR, an elevated jogging track looping around the estate and offering dedicated pedestrian access that seamlessly connects the entire campus. Estate 105 sits right along the Noida-Greater Noida Expressway, with seamless connectivity to DND Flyway, paired with the calm of a 35m-wide, ~3 acre green belt on the other side.Powered by Capital Market - Live

Max Estates has secured the RERA [UPRERA No.: UPRERAPRJ9759] for Max One, the development around Max Towers, Sector 16B, Noida. This brings renewed optimism for customers after the insolvency of erstwhile developer. With construction to commence shortly at Max One, the focus firmly shifts to the future, signaling momentum and progress. The ~10-acre development with ~2.5 mn sq ft potential is envisioned as a globally benchmarked urban destination, drawing inspiration from leading global districts such as Hudson Yards (New York), One Blackfriars (London), and Marina One (Singapore). It is planned as a landmark integrated mixed-use destination featuring by-invite-only ultra-luxury serviced residences, premium offices, curated retail, and a by-invite club. The project is expected to generate total sales potential of ~Rs 2,000 crore, along with an annuity rental income potential of ~Rs 120 crore.Powered by Capital Market - Live

Net loss of Max Estates reported to Rs 1.21 crore in the quarter ended December 2025 as against net profit of Rs 19.75 crore during the previous quarter ended December 2024. Sales rose 24.30% to Rs 49.77 crore in the quarter ended December 2025 as against Rs 40.04 crore during the previous quarter ended December 2024. ParticularsQuarter EndedDec. 2025Dec. 2024% Var. Sales49.7740.04 24 OPM %5.8928.90 - PBDT8.9828.59 -69 PBT0.9620.43 -95 NP-1.2119.75 PL Powered by Capital Market - Live

Max Estates will hold a meeting of the Board of Directors of the Company on 6 February 2026.Powered by Capital Market - Live

Max Estates launched a first of its kind 'forest anchored' residential community, Estate 361, in Sector 36A, Gurugram. Designed for all lifestyles, Estate 361 is Spread over 18.23 acres. This thoughtfully designed residential community offers a 'forest in your backyard' with over 2,50,000 sq. ft. of forest greens home to 1,000+ indigenous trees and over 50 species of flora carefully selected to thrive in Gurugram's climate. The community reflects a conscious commitment to sustainability through IGBC Platinum Pre-certification, bringing Max Estates' LiveWell philosophy to life. The first phase of Estate 361 will also feature The Hub, the community clubhouse offering over 2,00,000 sq. ft. of amenities, including an all-weather pool, gym, spa, all-day dining, racket courts, and more. The Hub also includes 70,000 sq. ft. of beautifully landscaped terrace greens accessible to residents.Powered by Capital Market - Live