Business Update
Max Estates Reports Strong FY26 Pre-Sales at ₹5,305 Cr | Q4 Drives Momentum
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Max Estates delivered strong FY26 operational performance with pre-sales of ₹5,305 crore, supported by a robust Q4 contribution of ₹3,392 crore and a strong project pipeline.
PRICE-SENSITIVE TRIGGER
Event: Operational Update (Pre-sales performance + pipeline visibility)
Type: Business Update
Impact: Positive
Immediate Effect: Strong demand momentum and visibility of future growth
Key Metrics
- FY26 Pre-Sales: ₹5,305 Cr
- Q4 Pre-Sales: ₹3,392 Cr
- FY25 Pre-Sales: ₹5,321 Cr
- Collections (FY26): ₹1,578 Cr
- GDV Pipeline: ₹16,000+ Cr
- Net Debt: ₹174 Cr
Highlights
Sustained Scale: ₹5,000+ Cr run-rate for 2 consecutive years
What Happened ?
Max Estates announced its FY26 operational performance, highlighting:
- Strong pre-sales momentum
- High contribution from Q4
- Rapid success of newly launched projects
- Strong future pipeline
Key Project Performance
Estate 105, Noida
- Pre-sales: ₹1,783 Cr
- Achieved within 10 days of launch
- Strong demand validation
Estate 361, Gurugram
- Pre-sales: ₹1,704 Cr
- Premium forest-themed project
- High pricing power (~₹22,000/sq ft realization)
Max One, Noida
- Pre-sales: ₹1,415 Cr
- Contribution includes post-RERA approvals
- Revived stalled project successfully
Operational Strength
Collections
- ₹1,578 Cr in FY26
- Indicates strong cash flow conversion
Balance Sheet
- Low net debt (~₹174 Cr)
- Strong liquidity (~₹1,685 Cr)
Growth Outlook
- GDV pipeline: ₹16,000+ Cr
- Target additions:
- Residential: 2 million sq ft/year
- Commercial: 1 million sq ft/year
- Commercial portfolio:
- 100% leased
- ₹150+ Cr current rental
- ₹700+ Cr annuity potential
Risk Analysis
Key Risks
- Demand slowdown
- High dependence on NCR region
- Execution delays in new launches
- Pricing sustainability risk
Worst Case Scenario
Sales slowdown → inventory build-up
Risk Level: Medium
Company Commentary
- Strong Q4 performance reflects demand strength
- Premium projects gaining traction
- Focus on wellness-led real estate positioning
- Confident on FY27 growth visibility
Official Exchange Filing: Max Estates Limited