Max Estates Q4 FY25 earnings call: Revenue & Margins
Q4 FY25 earnings call: what management said on revenue, margins and capex.
- Revenue
- ₹40Cr
- +32.6% YoY
- −0.6% QoQ
- Net profit
- ₹14Cr
- Turned profitable YoY
- −11.6% QoQ
- Margin
- 22.78%
- −3.2 pp YoY
- −6.1 pp QoQ
Guidance rank: #12 of 43 in Realty
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Max Estates Ltd Q4 FY25 key numbers
- Revenue
- The strategic launch pipeline includes 3 projects in Gurgaon and Noida in FY '26, aiming for INR9,500 crores booking value.
As stated in Max Estates Ltd's Q4 FY25 earnings call transcript · published 6 Aug 2026. Reported figures, not investment advice.
The short version
Max Estates targets presales growth of 15% to 20% CAGR over the coming years. Max Estates aims for a 15% to 20% CAGR growth in presales, with FY '26 guidance of INR6,000-6,500 crores, a 15-20% increase over FY '25.
From Max Estates Ltd's Q4 FY25 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- Max Estates targets presales growth of 15% to 20% CAGR over the coming years.
- For FY '26, guidance is INR6,000 to INR6,500 crores in bookings, up 15%-20% from FY '25's INR5,300+ crores.
- The strategic launch pipeline includes 3 projects in Gurgaon and Noida in FY '26, aiming for INR9,500 crores booking value.
- Growth guidance for FY '26 to FY '28 is INR21,000 crores in booking value, with INR14,000 crores already secured.
- Collections expected to be approximately INR2,000 crores annually from large residential projects.
- Operating cash flow from residential expected to grow significantly, potentially doubling to around INR1,000 crores in FY '26.
2 more points from Max Estates Ltd's call on revenue
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Profitability & Margins
Max Estates aims for a 15% to 20% CAGR growth in presales, with FY '26 guidance of INR6,000-6,500 crores,…
Locked: what Max Estates Ltd said on margins
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Capital Expenditure Plans
- Planned equity infusion of around INR600 crores from New York Life for a 49% shareholding in Sector 105 and Delhi One projects to achieve financial closure from an equity perspective.
- Debt raising is planned on these projects to meet remaining capital requirements.
- Expected deployment of approximately INR1,100 crores capex on large residential projects in FY '26.
- Around INR500 crores capex to be deployed on commercial assets Acreage Builders (Gurgaon) and MaxVIL (Noida) in FY '26, funded through tied-up debt with SBI and ICICI banks.
- New York Life committed approximately INR300 crores for Sector 105 Noida and INR250 crores for Delhi One mixed-use projects.
2 more points from Max Estates Ltd's call on capex
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Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
New York Life (NYL) is strategically partnering with Max Estates on mixed-use projects, committing equity…
Locked: what Max Estates Ltd said on fundraising
Also locked on this page: margins
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Order Book & Pipeline
- Max Estates has a secured orderbook/pipeline of INR 21,000 crores for FY '26 to '28, with INR 14,000 crores already secured.
- For FY '26, 3 new projects will be launched between Gurgaon and Noida from Q2 to Q4, worth INR 9,500 crores in booking value.
- FY '26 guidance is INR 6,000 to INR 6,500 crores in bookings, implying a 15-20% growth over FY '25.
- They plan to add at least 3 million sq ft annually, with at least 2 million sq ft in residential and 1 million sq ft in commercial development.
- New projects include a 4 million sq ft development adjacent to Estate 360 with approx INR 9,000 crore GDV, planned to launch by Q2 FY '26.
2 more points from Max Estates Ltd's call on order book
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Max Estates Ltd — Quarterly revenue & net profit
Max Estates Ltd Q4 FY25 results — key figures
| ₹ Cr | Q4 FY25 | Q4 FY24 | YoY | Q3 FY25 | QoQ |
|---|---|---|---|---|---|
| Revenue | 40 | 30 | +32.6% | 40 | -0.6% |
| Operating profit (EBITDA) | 9 | 8 | +16% | 12 | -21.7% |
| Operating margin | 22.78% | 26.02% | -3.2 pp | 28.9% | -6.1 pp |
| Profit before tax | 21 | -6 | — | 20 | +4.1% |
| Net profit (PAT) | 14 | -5 | — | 16 | -11.6% |
| EPS (₹) | 1.08 | -0.10 | — | 1.23 | -12.2% |
Source: reported quarterly figures (Screener), ₹ crore.
Reported quarterly figures (₹ Cr). Latest (Q2 FY27): revenue ₹53 Cr, net profit ₹5 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What Max Estates's management said in earlier quarters
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
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Frequently Asked Questions
What were Max Estates Ltd Q4 FY25 results?
Max Estates targets presales growth of 15% to 20% CAGR over the coming years. Max Estates aims for a 15% to 20% CAGR growth in presales, with FY '26 guidance of INR6,000-6,500 crores, a 15-20% increase over FY '25.
What is Max Estates Ltd share price analysis?
Max Estates Ltd currently shows a neutral. The stock trades at a P/E of 1231.5 with a market cap of ₹7,229 Cr. Investors should review the full earnings analysis for detailed insights.
Is Max Estates Ltd planning capital expenditure?
Planned equity infusion of around INR600 crores from New York Life for a 49% shareholding in Sector 105 and Delhi One projects to achieve financial closure from an equity perspective.
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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.