Key Operational and Financial Highlights

Pre-sales Performance:

  • Q2 FY27 pre-sales: INR 2,092 crore, representing approximately 14x year-on-year growth
  • H1 FY27 pre-sales: INR 3,184 crore
  • Gross Development Value (GDV) pipeline balance: Over INR 29,000 crore from Q3 FY27 onwards

Collections:

  • Q2 FY27 collections: INR 560 crore, approximately doubling year-on-year
  • H1 FY27 collections: INR 1,051 crore

Residential Portfolio (LiveWell):

  • Estate 361, Gurugram: Q2 FY27 pre-sales of INR 962 crore; H1 FY27 pre-sales of INR 1,747 crore; Q2 FY27 collections of INR 171 crore; H1 FY27 collections of INR 312 crore
  • Sector 59, Golf Course Extension Road, Gurugram: 7.25 acre land parcel with development potential of ~1.3 million sq. ft. and total GDV of INR 3,900+ crore; planned launch in Q3 FY27

Mixed-Use Portfolio (LiveWell + WorkWell):

  • Max One: Q2 FY27 pre-sales of INR 584 crore; cumulative pre-sales of INR 2,088 crore; Q2 FY27 collections of INR 112 crore; H1 FY27 collections of INR 172 crore
  • Estate 105: Q2 FY27 pre-sales of INR 546 crore; H1 FY27 pre-sales of INR 765 crore; Q2 FY27 collections of INR 173 crore; H1 FY27 collections of INR 299 crore; subsequent phase with estimated GDV of INR 3,000 crore planned for launch in CY27

New Business Development:

  • Signed MOU for proposed Joint Development Agreement for ~9.76 acres in Indirapuram, Ghaziabad with saleable area potential of ~1.5 million sq. ft. and estimated GDV of INR 2,500-3,000 crore; subject to due diligence, approvals, and definitive agreement execution
  • Signed MOU for proposed acquisition of ~84.71 acres in West Delhi with estimated GDV potential of INR 10,000-12,000 crore at consideration of INR 420 crore to be discharged through share swap; subject to applicable approvals and completion requirements

Commercial Portfolio (WorkWell):

Operational Assets: Max Towers (Noida), Max House Phase I and II (Okhla), and Max Square (Noida) at 100% occupancy

Under-construction Assets:

  • Max Square Two, Noida: 0.9 million sq. ft. leasable area with annual rental potential of INR 125 crore; ~310,000 sq. ft. pre-leased at over 25% premium to prevailing micro-market rentals
  • Max District, Sector 65, Gurugram: 1.6 million sq. ft. leasable area with annual rental potential of INR 225 crore; ~200,000 sq. ft. pre-leased at over 35% premium to prevailing micro-market rentals
  • Overall commercial portfolio projected to generate annual rental income exceeding INR 700 crore on 100% basis over next four years

Sustainability Achievements:

  • Dual 5-Star GRESB Rating for second consecutive year in 2026: 100/100 in Development (Ranked No. 1 in peer group) and 93.5/100 in Standing Investments
  • Max Towers and Max Square received British Safety Council's Sword of Honour

Consolidated Financial Highlights (Q2 FY27):

  • Consolidated Revenue: INR 52.8 crore
  • Consolidated EBITDA (excluding other income): INR 5.3 crore
  • Consolidated PBT: INR 7.2 crore
  • Consolidated PAT: INR 4.7 crore
  • Lease Rental Income (Max Towers + Max House + Max Square): INR 39.0 crore in Q2 FY27, broadly stable year-on-year
  • External Debt as of September 30, 2026: INR 2,117 crore (including LRDs of INR 944 crore)
  • Cash & Cash Equivalents (including RERA balances) as of September 30, 2026: INR 1,898 crore
  • Net Debt: ~INR 219 crore

Management Commentary:

Mr. Sahil Vachani, Vice Chairman & Managing Director, commented on the continued confidence of homebuyers in their well-being-led offerings, disciplined execution, and focus on building sustainable growth across both asset classes. He highlighted the significant progress in strengthening the development pipeline through proposed acquisitions.

Company Aspirations:

  • Add ~2 million sq. ft. of residential development annually
  • Add ~1 million sq. ft. of commercial development annually

Regulatory Reference:

Filed with BSE Limited and National Stock Exchange of India Limited as a press release disclosure.