Financial Performance Highlights

Consolidated Financials (Q1 FY27):

  • Total Income: ₹68.6 Cr (Q4 FY26: ₹72.0 Cr, -4.7% QoQ; Q1 FY26: ₹41.3 Cr, +66% YoY)
  • Total Expenses: ₹93.6 Cr
  • EBITDA Loss: ₹25.0 Cr (Q4 FY26: ₹6.8 Cr loss; Q1 FY26: ₹23.2 Cr loss)
  • Depreciation: ₹7.4 Cr
  • EBIT Loss: ₹32.3 Cr
  • Finance Cost: ₹2.7 Cr
  • Loss Before Exceptional Item: ₹35.6 Cr
  • Exceptional Item: ₹0.03 Cr
  • Loss Before Tax: ₹35.6 Cr
  • Tax: ₹0.7 Cr
  • Loss After Tax: ₹36.3 Cr
  • EPS: -₹6.9

The QoQ decline in EBITDA was primarily due to: (1) impact of exceptional development management fees received in previous quarter reflecting lumpy nature of this revenue in Residences segment, and (2) higher brand spends and increased operational costs in Assisted Care.

Segment-wise Revenue Breakdown

  • Residences for Seniors: ₹37.36 Cr (Q1 FY26: ₹16.72 Cr; Q4 FY26: ₹37.90 Cr)
  • Assisted Care Services: ₹30.61 Cr (Q1 FY26: ₹21.05 Cr; Q4 FY26: ₹32.66 Cr)
  • Max India Limited: ₹0.65 Cr (Q1 FY26: ₹3.56 Cr; Q4 FY26: ₹1.44 Cr)

Balance Sheet Position (as of June 30, 2026)

  • Assets: Non-Current Assets: ₹284.2 Cr; Current Assets: ₹349.8 Cr; Total Assets: ₹633.9 Cr
  • Equity & Liabilities: Equity: ₹372.2 Cr; Non-Current Liabilities: ₹99.1 Cr; Current Liabilities: ₹162.6 Cr; Total Equity & Liabilities: ₹633.9 Cr
  • Liquidity Position: ~₹21 Cr
  • Consolidated Net Worth: ~₹372 Cr

Operational Performance Metrics

Care Homes and Services:

  • SAT Index: 89.2% in Q1FY27 (Q4FY26: 93%)
  • Net Revenue: ₹12.03 Cr in Q1FY27, up ~1.5x YoY
  • ~2,700 patients served during Q1FY27; ~53,000 patients served since inception
  • Occupancy: 28% in Q1FY27 (previous quarter: 27%)
  • Total Bed Capacity: 485 beds across Delhi-NCR (207 beds), Bengaluru (163 beds), and Chennai (115 beds)

AGEasy:

  • SAT Index: 82% in Q1FY27 (Q4FY26: 80%); NPS: 60
  • Revenue: ~₹19 Cr in Q1FY27, up ~1.3x YoY
  • Online Gross Margin improved from 38% to 45% YoY
  • 86 products live with 167 SKUs
  • Served ~9 lakh+ lives since inception
  • 88k+ repeat customers
  • RoAS: Achieved quarter exit ROAS of 2.0 (Marketplace: 2.8; D2C: 1.1)
  • 36% of products sourced from China
  • 7 patents: 4 granted and 3 filed

Real Estate Development Updates

E360, Gurugram (Max Estates Gurgaon Limited):

  • All 292 units of Senior Living sold within July 2025
  • ITD collection: ~₹556 Cr, collection efficiency ~87%
  • Collection in Q1 FY27: ₹22.5 Cr
  • Development Fee billed (ITD): ₹47.69 Cr
  • Development Fee billed (YTD): ₹2.09 Cr
  • Total Saleable area: 7.63 lakh sq. ft.
  • Avg. Price: ~₹20.05k per sq. ft.
  • Avg. Apartment Size: 2,615 sq. ft.
  • Total Gross Sales: ~₹1,530 Cr

E361, Gurugram (Max Estates Gurgaon 2 Limited):

  • Phase 1 launched December 2025, Phase 2 launched June 2026
  • 154 units sold out of 360 units till June 2026
  • ITD sales collection: ~₹108.2 Cr
  • Collection till June 30, 2026 (YTD): ₹39.1 Cr
  • Development Fee billed (ITD): ₹7.94 Cr
  • Development Fee billed (YTD): ₹3.26 Cr
  • Total Saleable area: 10.52 lakh sq. ft.
  • Avg. Price: ~₹22.4k per sq. ft.
  • Avg. Apartment Size: 2,809 sq. ft.
  • Total Gross Sales for 154 units sold: ~₹1,000 Cr

Antara Noida Phase 1: Received Partial Occupancy Certificate and issued Offer of Possession in Q1FY27 for all 340 units; Operations to commence in Q2FY27.

Awards and Partnerships

  • Antara Senior Care received "Visionary Leadership in Senior Living" award at HT India Next Real Estate Expo (June 2026)
  • Concluded NABH accreditation at Bannerghatta
  • HSSC accreditation for Care at Home services in Chennai in progress
  • Continued partnerships with Star Union Dai-ichi Life Insurance, IIT Delhi, Wellbeing Nutrition, and Swassa

Outlook and Strategy

  • Focus on higher gross margins, cost optimization and increased profitability
  • Driving improvements in RoAS and gross margin for AGEasy
  • Scaling up differentiated and patented products across all channels
  • Invest in brand and organic traffic to drive better marketing efficiencies
  • Managing input-cost and freight pressures through product prioritization and higher India stock levels