• This document is an Investor Presentation for Q1 FY27 (August 2026), submitted pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015, in continuation of the intimation for the Earnings Conference Call schedule dated August 11, 2026.
  • The presentation provides a comprehensive overview of the company's operating and financial performance, portfolio, projects, growth strategy, and sustainability initiatives.
  • Management participants are not explicitly listed in the presentation deck, but the leadership team is detailed in the 'Pillars of sustainable growth' section, including Vice Chairman & Managing Director Sahil Vachani and other key executives.
  • The presentation includes extensive financial highlights, operational metrics, and forward-looking guidance but does not specify if a transcript or recording will be made available.
  • The document contains standard 'Safe Harbor' legal disclaimers stating that it is for informational purposes only and contains forward-looking statements subject to risks and uncertainties.

Financial and Operational Highlights

  • Q1 FY27 Performance: Consolidated revenue was ₹51.9 Cr, EBITDA was ₹8.1 Cr, and PAT was ₹8.4 Cr. Lease rental income was ₹39.7 Cr, up 4.5% YoY.
  • Pre-sales and Collections: Q1 FY27 pre-sales were ₹1,093 Cr (5x YoY growth). Collections were ₹491 Cr, up 36% YoY. FY26 pre-sales were ₹5,305 Cr.
  • Commercial Portfolio: Total leased area is 1.24 mn sq. ft. with 100% occupancy across all completed assets (Max Towers, Max House, Max Square). Peak annuity income potential is ~₹700 Cr (Max Estates share ~₹350 Cr) over the next 5 years.
  • Residential Portfolio: Launched GDV is ₹17,560 Cr, of which ₹13,560 Cr is already sold. The total GDV pipeline is ₹16,150+ Cr for future growth from Q2 FY27.
  • Embedded Value: Launched projects have an embedded PBT of ₹4,600–5,400 Cr, expected to be recognized from FY28 to FY31.
  • Capital Structure: Net debt is ₹234 Cr. Gross cash is ₹1,727 Cr (including ₹1,233 Cr in RERA). Total external debt is ₹1,961 Cr (including construction debt of ₹1,027 Cr and lease rental discounting of ₹934 Cr).
  • Guidance: The company aspires to add 3 mn sq. ft. of projects annually (1 mn sq. ft. commercial, 2 mn sq. ft. residential). Planned construction spend for FY27 is ~₹1,500+ Cr.
  • ICRA Rating: Assigned a first-time issuer rating of [ICRA]A+ with a stable outlook on 13 August 2026, based on consolidated financials.

Portfolio and Projects Update

  • The total portfolio spans 18.4 mn sq. ft. across 11 projects in Delhi NCR (Noida, Gurugram, Delhi).
  • Key Residential Projects: Estate 128 (₹2,734 Cr GDV, possession FY28), Estate 360 (₹4,800 Cr GDV, possession FY29), Estate 361 (₹9,000 Cr GDV, possession FY31).
  • Key Commercial/Mixed-Use Projects: Max Square Two (1.1 mn sq. ft., ₹125 Cr rental potential, OC FY28), Max District (1.6 mn sq. ft., ₹225 Cr rental potential, OC FY29), Max One (mixed-use, ₹145 Cr rental potential, GDV ₹3,200 Cr).
  • Construction Updates: Detailed progress photos and status are provided for Max Square Two, Max District, Estate 128, Estate 360, and Max One, all reported as on track.

Additional Notes

  • The presentation was attached to the regulatory filing and is also available on the company's website www.maxestates.in.
  • The document contains extensive financial data, operational metrics, and project-specific details but does not constitute an offer of securities.
  • It includes information on the company's ESG focus, talent depth, board composition, and strategic partnership with New York Life.