Max Estates Limited has announced robust financial results for the first quarter of FY27 (Q1 FY27), reporting pre-sales of approximately INR 1,093 crore, marking a significant 5x year-over-year growth. The company also achieved collections of around INR 491 crore for the quarter. This performance underscores strong customer trust in its wellness-led residential and commercial offerings.
Max Estates Announces Strong Q1 FY27 Performance
Max Estates Limited (MEL) has reported impressive financial results for the first quarter of the financial year 2027 (Q1 FY27), with pre-sales reaching approximately INR 1,093 crore. This figure represents a substantial 5x year-over-year growth, highlighting the company’s expanding market presence and demand for its properties. The announcement was made on August 14, 2026.
Key Financial Highlights and Business Performance
During Q1 FY27, MEL’s collections stood at approximately INR 491 crore. The company also highlighted that Phase 1 of its residential project, The Terraces (Estate 361, Gurugram), was fully sold out, contributing around INR 500 crore. Sustenance sales from the existing portfolio added another INR 600 crore.
ICRA Limited has assigned Max Estates a first-time issuer rating of [ICRA]A+ with a Stable outlook. This rating reflects the company’s healthy sales and collections, strong commercial leasing occupancy, and improving cash flow and leverage metrics.
Residential Portfolio Performance
In the residential segment, Estate 361, Gurugram, recorded pre-sales of INR 785 crore in Q1 FY27, bringing the total pre-sales for Phase 1 to INR 2,489 crore against a Gross Development Value (GDV) of INR 3,750 crore. Collections from this project were INR 313 crore.
The Terraces, launched in May 2026 within Estate 361, achieved a GDV of ₹1,200 crore. Phase I of The Terraces, with a GDV of ₹500 crore, was fully sold out in its launch quarter.
Estate 360, Gurugram, reported cumulative pre-sales of INR 4,831 crore and collections of INR 1,796 crore. The project is approximately 100% sold.
Estate 128, Noida (Phase 1 and Phase 2), achieved cumulative pre-sales of INR 2,734 crore and collections of INR 1,125 crore, with the project being 100% sold.
Commercial Portfolio and Future Pipeline
Max Estates’ operational commercial assets, including Max Towers, Max House, and Max Square, are at 100% occupancy, generating an annual rental income of INR 53 crore, INR 45 crore, and INR 60 crore respectively. The under-construction pipeline includes Max Square 2 and Max District, Gurugram, with a combined leasable area of approximately 2.5 million sq. ft. expected to add over INR 350 crore to the annuity portfolio.
The company has a remaining GDV pipeline of over INR 16,150 crore to be sold in a phased manner and aims to add around 2 million sq. ft. of residential development annually. The overall commercial portfolio is poised for an annuity rental income potential of over INR 700 Crore in the next five years.
Consolidated Financial Highlights (Q1FY27)
- Consolidated Revenue: Rs. 51.9 Crore
- Consolidated EBITDA: Rs. 8.1 Crore
- Consolidated PBT: Rs. 11.4 Crore and PAT: Rs. 8.4 Crore
- Total Leased Area: 1.24 mn sq. ft. (as of June 30, 2026)
- Lease Rental Income: Rs. 39.7 Crore (up 4.5% YoY)
- Max Asset Services Revenue: Rs. 14.6 Crore (up 16% YoY)
- Debt: Rs. 1,961 Crore (as of June 2026)
- Cash & Cash Equivalents: Rs. 1,727 Crore (as of June 2026)
Sahil Vachani, Vice Chairman & MD of Max Estates, commented, “Delivering ~INR 1,093 crore of pre-sales in the first quarter itself, is a strong start to FY27 and reaffirms the trust our customers place in Max Estates’ wellbeing-led LiveWell and WorkWell offerings.” He further added, “With a remaining GDV pipeline of over INR 16,150 crore set to fuel growth through FY27 and beyond, and a strong balance sheet with net debt of ~INR 234 crore as on date, we remain confident of sustaining this momentum.”
Source: BSE
