Max Estates Ltd.
NSE: MAXESTATES · Real Estate
Sector
Real Estate
Size band
Small cap
Market cap
5,671cr
P/E
80.1
ROE
15.7%
No price is shown on this page, live or delayed. It records what management said on the earnings call, and the company’s filings.
Measured against
Peer set
Real Estate · 1 measured at Q1 FY27 · financials via Screener| Company | Operating margin | Revenue growth |
|---|---|---|
| Max Estates Ltd. | 15.6% | 0.9% |
| Marathon Nextgen Realty Ltd. | 24.0% | 40.4% |
What management said
14 statements on recordEarnings call · Q1 FY '27 · 21 Aug 2026
- Residential new project launches→Rs. 12,000 crores approximately· FY '27
“Of this, Rs. 4,000 crores is already launched and available for sale this year, while the remaining Rs. 12,000 crores approximately represents new project launches planned through the course of FY '27, as we continue to target annual addition of 2 million square feet of residential development.”
- Residential development addition→2 million square feet· annual
“Overall, like I mentioned, the company has a residential pipeline of Rs. 16,000 crores and continues to target an annual addition of 2 million square feet of residential development.”
- Sector 59 launch timing→Q3 of FY '27· Q3 FY '27
“Coming to our new launch in Gurgaon: Sector 59 on Golf Course Extension Road, it has a development potential of 1.3 million square feet, with a GDV potential of more than Rs. 3,500 crores, and we are expected to launch in Q3 of FY '27.”
- Max Square 2 occupancy certificate→Q2 FY '28· Q2 FY '28
“Max Square 2, having a leasable area of 1 million square feet, is on track and is expected to receive occupancy certificate by Q2 FY '28.”
- Max Square 2 annuity addition→Rs. 125 crores
“It is expected to add Rs. 125 crores to annuity portfolio, strong leasing momentum highlighted by the signing of an LOI for a long-term pre-lease of approximately 90,000 square feet at 25% premium to the prevailing micro market.”
- Max District occupancy→Q3 in FY '28 and Q3 of FY '29 respectively· FY '28 and FY '29
“Coming to Max District, which is in Gurgaon and also under construction, it has a leasable area of 1.6 million and is on track. It is also expected to receive occupancy across Q3 in FY '28 and Q3 of FY '29 respectively.”
- Max District annuity addition→Rs. 200 crores
“We expected to add Rs. 200 crores to annuity portfolio, and again, strong leasing momentum highlighted by the signing of an LOI for a long-term pre-lease of 200,000 square feet at 35% premium to the micro-market rental.”
- Annual rental income→approximately Rs. 700 crores at peak occupancy
“As our under-construction pipeline progresses, we expect to achieve our annual rental income of approximately Rs. 700 crores at peak occupancy.”
- Commercial business development→1 million square feet· annual
“We will also continue to target 1 million square feet of new business development towards this portfolio moving forward.”
- Collections→Rs. 2,500-Rs. 2,700 crores· current year
“And we expect our collections to be in the range of Rs. 2,500-Rs. 2,700 crores in the current year, which would be a combination of the projects which we have already sold, which will be hitting the construction milestones and the fresh sales which we are planning to do, which is in equal proportion to one of them.”
- Project deployment→close to Rs. 1,500-Rs. 1,800 crores· current year
“We would be deploying close to Rs. 1,500-Rs. 1,800 crores on the project, and we would be having OCF of close to Rs. 750-Rs. 1,000 crores left, which we would be planning to deploy on the BD efforts ongoing in the company.”
- Operating cash flow left for BD→close to Rs. 750-Rs. 1,000 crores· current year
“We would be deploying close to Rs. 1,500-Rs. 1,800 crores on the project, and we would be having OCF of close to Rs. 750-Rs. 1,000 crores left, which we would be planning to deploy on the BD efforts ongoing in the company.”
- Remaining launches→between Rs. 5,000-Rs. 5,500 crores of new launches· second half of the year
“So I think broadly, we will have close to, I would say, Rs. 5,000 crores of launches that we are looking to do in the remaining half of the year that we have, in the second half of the year. And yes, between Rs. 5,000-Rs. 5,500 crores of new launches.”
- Commercial capex remaining→Rs. 1,500-Rs. 1,800 crores
“The remaining capital which we need to deploy on these assets is amount in the range of Rs. 1,500-Rs. 1,800 crores and which would be, which is completely tied up as we speak.”
Taken from management commentary on the company’s earnings call and quoted verbatim. These are statements of intent made by the company, not forecasts by Bharatstox, and nothing here records whether they were met.
On air
4 calls · outcomes not trackedRecorded as stated on air, with the analyst's SEBI registration status where it was given. Anchor calls carry no registration and are marked. Bharatstox does not make, endorse or repeat these calls, and none of them is our view.
| Channel & show | Aired | Stated target | Stated stop | Outcome |
|---|---|---|---|---|
| Zee BusinessZee Business · no registration attached | 24 Sep | +6.9% | -3.8% | still open |
| Zee BusinessZee Business · no registration attached | 24 Sep | +7.0% | -3.8% | still open |
| CNBC AwaazCNBC Awaax · no registration attached | 17 Sep | +7.7% | -3.6% | still open |
| CNBC AwaazCNBC Awaax · no registration attached | 17 Aug | +3.7% | -2.8% | still open |
Shareholding
change across 4 filings| Category | Sep 26 | Jun 26 | Mar 26 | Dec 25 | Change |
|---|---|---|---|---|---|
| Promoters | 45.2 | 45.3 | 45.3 | 44.9 | +0.3 |
| Foreign institutions | 26.3 | 25.9 | 25.9 | 25.7 | +0.6 |
| Domestic institutions | 8.7 | 8.2 | 7.7 | 7.8 | +0.9 |
| Retail & others | 19.7 | 20.7 | 21.2 | 21.7 | −2.0 |
As filed with the exchange for the periods ending Dec 25 to Sep 26.
Filings
latest 25 of 389- Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company8 Oct 2026
- Certificate under SEBI (Depositories and Participants) Regulations, 20186 Oct 2026
- Press Release6 Oct 2026
- Press Release1 Oct 2026
- Trading Window30 Sept 2026
- Shareholders meeting24 Sept 2026
- Shareholders meeting24 Sept 2026
- Analysts/Institutional Investor Meet/Con. Call Updates24 Sept 2026
- Please find attached the Press Release23 Sept 2026
- Press Release23 Sept 2026
- Updates11 Sept 2026
- Please refer the enclosed Intimation for allotment of 14,931 equity shares pursuant to the exercise of stock options.11 Sept 2026
- Copy of Newspaper Publication3 Sept 2026
- Newspaper Advertisements regarding completion of dispatch of the Notice convening the Extra-Ordinary General Meeting of the Company.3 Sept 2026
- Shareholders meeting3 Sept 2026
- Please find attached the EGM notice.3 Sept 2026
- Announcement under Regulation 30 (LODR) - Acquisition29 Aug 2026
- Outcome of Board Meeting29 Aug 2026
- Max Estates Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 28/08/2026 ,inter alia, to consider and approve In terms of Regulation 29 and other ....25 Aug 2026
- Analysts/Institutional Investor Meet/Con. Call Updates21 Aug 2026
- Please find the Earning Call Transcript21 Aug 2026
- Shareholders meeting19 Aug 2026
- Shareholders meeting19 Aug 2026
- Please refer the enclosed intimation with respect to the grant of stock options.17 Aug 2026
- General Updates17 Aug 2026
The 25 most recent of 389 filings we hold for MAXESTATES, back to January 2024. Every filing, by day.
Disclaimer
Guidance is quoted from management commentary on quarterly earnings calls; the words are the company's own and the targets are theirs, not ours. Peer comparisons use quarterly financials sourced from Screener, with every company measured at the same fiscal quarter; the peer set is companies sharing the same industry classification, and comparisons are descriptive, not a ranking or a view. Broadcast calls are reproduced as stated on air, attributed, with the analyst's SEBI registration status where given; they are not our calls and not our view. Filings are reproduced as companies filed them to the NSE and BSE; Bharatstox does not verify, endorse or comment on their contents. This page is for informational and educational purposes only and does not constitute investment advice, research, or a recommendation to buy or sell any security. Investing in securities markets is subject to market risks. Read all related documents carefully before investing.