2026-02-08 16:29:36
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Stock Report
Max Estates 9M FY26: Pre-Sales Top ₹1,900 Cr in Gurugram YTD, Launches Estate 361 (₹2,500 Cr GDV); Leasing at ₹270 Cr Premium
Posted On : 2026-02-08 14:14:02( TIMEZONE : IST )
Max Estates Ltd (NSE: MAXESTATES, BSE: 544008), Max Group's realty arm, hit record Gurugram pre-sales amid LiveWell launches.
Business Highlights (9M FY26):
Estate 361 (Gurugram Sec 36A): Phase 1 launched (18 acres, 2.5L sq ft greens, Antara senior living/wellness); GDV ₹2,500 Cr, ₹22K/sq ft (+premium).
Gurugram pre-sales >₹1,900 Cr YTD.
Pipeline: ₹14,500 Cr GDV launches; aspire 2 Mn sq ft residential/year.
Estate 128/360 Noida/Gurugram: 100% sold, collections ₹2,204 Cr.
New Gurugram Sec 59 (7.25 acres, 1.3 Mn sq ft, ₹3,000 Cr GDV; Q4 FY27).
Max One Noida (2.5 Mn sq ft mixed-use, ₹2,000 Cr GDV +₹120 Cr annuity; Q4 FY26).
Sec 105 Noida (10.3 acres, 2.6 Mn sq ft; Phase 1 ₹3,000 Cr GDV).
Commercial: Max District Gurugram LOI ~2L sq ft pre-leased (₹270 Cr rentals, 35% premium, 3 yrs pre-completion). Portfolio annuity potential ₹723 Cr/5 yrs (100% basis); 1 Mn sq ft/year target. Assets (Max Towers/House/Square) 100% occupied, rentals ₹144 Cr annual.
Sustainability: Solar at Max Square (50% RE by 2030).
Visibility: ₹7,500 Cr cash/inventory (4 yrs).
Financials (9M FY26, cons.): Revenue ₹150 Cr, EBITDA ₹27 Cr, PBT ₹29 Cr, PAT ₹20 Cr. Leased 1.23 Mn sq ft; MAS revenue ₹40 Cr. Rentals +38% YoY ₹115 Cr. Net debt ₹414 Cr (cash ₹1,284 Cr).
VC & MD Sahil Vachani: "Estate 361 validates LiveWell; Max District pre-leasing shows WorkWell strength. Scale via NY Life partnership; focus well-being communities."
Max Estates unlocks ₹14,500 Cr launches, blending luxury/sustainability.
Shares of Max Estates Limited was last trading in BSE at Rs. 377.50 as compared to the previous close of Rs. 384.80. The total number of shares traded during the day was 846 in over 77 trades.
The stock hit an intraday high of Rs. 385.30 and intraday low of 373.95. The net turnover during the day was Rs. 320742.00.
