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Max Estates Ltd

Q2 FY26Realty

Max Estates Q2 FY26 earnings call: Revenue & Margins

Q2 FY26 earnings call: what management said on revenue, margins and capex.

Price₹526
Market cap₹8.6K Cr
P/E1,464.2
Updated16 Oct 2026
Read4 min read

Max Estates Ltd Q2 FY26 key numbers

Revenue
Commercial portfolio expected to grow rental income to over INR 700 crores in coming years from current INR 150+ crores annualized run-rate.

As stated in Max Estates Ltd's Q2 FY26 earnings call transcript · published 11 Aug 2026. Reported figures, not investment advice.

The short version

Max Estates plans to launch projects with a cumulative GDV of INR 9,500 crores across three developments in H2 FY26 (Estate 361, Max One, Sector 105). Max Estates targets presales of INR6,000-6,500 crores in FY26, reflecting 15-20% growth over the previous year.

From Max Estates Ltd's Q2 FY26 earnings-call transcript · updated 16 Oct 2026.

Revenue & Sales Performance

  • Max Estates plans to launch projects with a cumulative GDV of INR 9,500 crores across three developments in H2 FY26 (Estate 361, Max One, Sector 105).
  • Anticipated presales of INR 6,000 to 6,500 crores in FY26, representing 15-20% growth over FY25.
  • Residential presales already recorded over INR 7,500 crores cumulatively, showing strong demand.
  • Commercial portfolio expected to grow rental income to over INR 700 crores in coming years from current INR 150+ crores annualized run-rate.
  • The company intends to focus near term on Delhi NCR market with potential medium-to-long-term expansion.
  • New acquisitions such as Sector 59 Golf Course Extension Road (GDV INR 3,000+ crores) will contribute to growth pipeline.

2 more points from Max Estates Ltd's call on revenue

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Profitability & Margins

See what Max Estates Ltd said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

  • Max Estates plans to spend close to INR800 crores on residential construction in the current financial year, including projects like Estate 361.
  • Commercial construction capex is projected at INR300-400 crores for the same period.
  • Recently acquired development rights for a 7.25-acre parcel in Sector 59, Golf Course Extension Road, Gurugram, with 1.3 million sq ft development and GDV over INR3,000 crores.
  • INR64 crores invested so far on land for the Sector 59 acquisition; balance capital deployment pending.
  • Launched three projects in H2 FY26 with a cumulative GDV of INR9,500 crores aiming for INR6,000-6,500 crores in presales.

2 more points from Max Estates Ltd's call on capex

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Top-ranked in Realty

Ranked on what management guided this quarter

Guidance-ranked
1Sri Lotus Developers & Realty Ltd
Rev 1Mar 3
2Sobha Ltd
Rev 2Mar 1
3
Rev 2Mar 1
4
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5
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Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.

Fundraising & Capital Structure

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Order Book & Pipeline

  • Max Estates has a robust growth pipeline with approximately 20 million square feet of projects under evaluation.
  • Recently secured development rights for a 7.25-acre parcel in Sector 59, Golf Course Extension Road, Gurgaon, with 1.3 million square feet of residential development and GDV over INR 3,000 crores.
  • Total GDV of acquired and yet-to-be-launched projects stands at around INR 17,000 crores.
  • Planned launches in H2 FY26 across three developments (Estate 361, Max One, Sector 105) with a cumulative GDV of approximately INR 9,500 crores.

2 more points from Max Estates Ltd's call on order book

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Max Estates Ltd — Quarterly revenue & net profit

Revenue Net profit Net loss
Dec 2024Q3 FY25
Mar 2025Q4 FY25
Jun 2025Q1 FY26
Sep 2025Q2 FY26
Dec 2025Q3 FY26
Mar 2026Q4 FY26

Reported quarterly figures (₹ Cr). Latest (Q4 FY26): revenue ₹49 Cr, net loss ₹4 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

Full financials →

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What Max Estates Ltd's management said in earlier quarters

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Frequently Asked Questions

What were Max Estates Ltd Q2 FY26 results?

Max Estates plans to launch projects with a cumulative GDV of INR 9,500 crores across three developments in H2 FY26 (Estate 361, Max One, Sector 105). Max Estates targets presales of INR6,000-6,500 crores in FY26, reflecting 15-20% growth over the previous year.

What is Max Estates Ltd share price analysis?

Max Estates Ltd currently shows a neutral. The stock trades at a P/E of 1464.2 with a market cap of ₹8,595 Cr. Investors should review the full earnings analysis for detailed insights.

Is Max Estates Ltd planning capital expenditure?

Max Estates plans to spend close to INR800 crores on residential construction in the current financial year, including projects like Estate 361.

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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.