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Max Estates Ltd.

RealtyConstruction - Real Estate

www.maxestates.in BSE: 544008NSE: MAXESTATES

₹570.75BSE2.01%

16 Sep, 4:01 PM

₹570.75

₹9.35K Cr

808.70

3.87

0.68%

₹573.35

₹545.25

₹578.80

₹305.55

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Price Performance

Peer Comparison

Name
DLF LIMITED DLF	623.00	34.69	1,54,211.92	1.28	793.90	4.09%	1,280.34	-52.87%	6.81
LODHA LODHA	1,085.80	26.30	1,08,507.80	0.39	1,373.10	103.39%	4,996.70	43.10%	16.89
PHOENIX MILL PHOENIXLTD	1,858.95	51.95	66,490.53	0.13	394.51	22.95%	1,074.94	12.80%	15.41
OBEROI REAL OBEROIRLTY	1,710.20	23.65	62,183.25	0.47	543.51	29.02%	1,300.89	31.73%	17.69
PRESTIGE PRESTIGE	1,427.85	54.00	61,501.82	0.14	271.40	-12.87%	2,675.10	15.94%	11.51
GODREJ PROP GODREJPROP	1,667.45	31.39	50,228.01	0.60	349.38	-41.61%	506.17	16.48%	8.37
ANANTRAJ ANANTRAJ	583.80	36.31	21,009.62	0.17	149.19	18.50%	631.40	6.58%	12.23
Max Estates Ltd. MAXESTATES	570.75	808.70	9,351.04	0.00	8.35	-30.00%	51.91	0.85%	2.05

Quarterly Results

consolidated figures in ₹ Crores · Quarterly

Particulars	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	30.01	40.49	40.18	40.04	39.78	51.47	48.77	49.77	49.43	51.91
Expenses	22.20	25.26	31.64	28.47	30.73	37.56	38.68	46.84	52.63	43.79
	7.80	15.23	8.54	11.57	9.06	13.92	10.09	2.93	-3.20	8.12
	26.00%	37.62%	21.26%	28.89%	22.77%	27.04%	20.68%	5.88%	-6.48%	15.65%
	8.55	7.21	12.60	31.85	37.52	28.66	25.86	21.68	21.15	28.17
Interest	14.21	16.55	13.94	14.83	16.55	17.32	16.28	15.63	16.19	16.73
	8.45	8.77	8.41	8.16	8.76	8.41	8.05	8.02	7.93	8.17
	-6.31	-2.88	-1.21	20.43	21.28	16.84	11.63	0.96	-6.17	11.39
	24.99%	30.62%	-14.20%	22.60%	34.23%	29.12%	32.81%	97.49%	33.90%	26.65%
	-1.45	1.57	2.15	15.82	13.99	11.93	7.27	0.03	-4.08	8.35
	-0.10	0.11	0.13	0.98	0.87	0.74	0.45	0.00	-0.25	0.51

Profit & Loss

consolidated figures in ₹ Crores · Annual

Particulars	FY 2022-23 (Mar)	FY 2023-24 (Mar)	FY 2024-25 (Mar)	FY 2025-26 (Mar)
No of Months	12.00	12.00	12.00	12.00
INCOME :
Operating Income	107.34	92.94	160.49	199.45
Operating Income (Net)	107.34	92.94	160.49	199.45
EXPENDITURE :
Increase/Decrease in Stock	11.39		1.87
Cost of Construction and Development	10.16		2.68	3.84
Power & Fuel Cost	2.51	3.40	5.77	6.12
Employee Cost	15.38	12.28	17.63	33.26
Operating Expenses	2.59	6.65	8.13	8.27
General and Administration Expenses	27.37	26.93	36.95	46.35
Selling and Distribution Expenses	4.07	22.59	38.39	69.36
Miscellaneous Expenses	2.21	3.32	4.68	8.53
	75.67	75.17	116.09	175.72
Operating Profit (Excl OI)	31.67	17.77	44.40	23.73
	23.94	27.33	89.19	97.35
	55.61	45.10	133.58	121.08
Interest	18.62	42.99	61.87	65.41
PBDT	36.99	2.11	71.72	55.66
	14.91	25.40	34.10	32.41
Profit Before Taxation & Exceptional Items	22.08	-23.29	37.62	23.25
Exceptional Income / Expenses		-44.45
	22.08	-67.74	37.62	23.25
Provision for Tax	3.62	-12.62	11.19	7.56
	18.47	-55.12	26.43	15.69
Extra items			0.00	0.00
Minority Interest	0.55	12.96	14.38	-3.18
Consolidated Net Profit	19.01	-42.16	40.81	12.51
Profit Balance B/F	-44.69	432.00	389.71	676.42
Appropriations	-25.68	389.83	430.52	688.94
		-2.87	2.53	0.77
Adjusted EPS	0.00	-2.87	2.53	0.77

Balance Sheet

consolidated figures in ₹ Crores

Particulars	FY 2022-23 (Mar)	FY 2023-24 (Mar)	FY 2024-25 (Mar)	FY 2025-26 (Mar)
		147.13	161.00	163.45
Share Warrants & Outstandings	149.27	3.88	41.36	12.49
Total Reserves	1,061.93	1,019.88	2,076.10	2,243.97
Reserve excluding Revaluation Reserve	1,061.93	1,019.88	2,076.10	2,243.97
Revaluation reserve	0.00
	1,211.21	1,170.90	2,278.47	2,419.91
Minority Interest	42.67	279.63	382.47	741.27
Secured Loans	673.32	647.52	1,239.18	1,785.56
Unsecured Loans	77.49	215.16	230.48	520.97
Deferred Tax Assets / Liabilities	-9.15	-57.44	-71.61	-172.28
Other Long Term Liabilities	80.25	135.43	144.12	131.18
Long Term Trade Payables			843.76	2,028.32
Long Term Provisions	1.69	2.80	3.84	6.38
Total Non-Current Liabilities	823.61	943.46	2,389.77	4,300.14
Trade Payables	27.04	33.39	453.12	1,018.40
Other Current Liabilities	37.58	605.17	1,648.95	3,720.95
Short Term Borrowings	62.59			33.20
Short Term Provisions	2.52	3.97	5.10	7.87
Total Current Liabilities	129.72	642.53	2,107.16	4,780.42
Total Liabilities	2,207.20	3,036.52	7,157.87	12,241.74
Gross Block	25.48	28.98	31.59	32.86
Less: Accumulated Depreciation	3.15	6.93	13.21	15.74
Net Block	22.33	22.04	18.38	17.12
Non Current Investments	53.63	2.69	5.12	5.18
Long Term Investment	53.63	2.69	5.12	5.18
Long Term Loans & Advances	122.16	97.75	556.24	217.70
Other Non Current Assets	35.03	116.08	331.55	968.33
Total Non-Current Assets	1,638.24	2,042.63	2,939.72	3,714.03
Currents Investments	105.96	89.96	582.01	380.18
Inventories	386.92	532.87	2,285.00	6,888.06
Sundry Debtors	5.78	8.01	14.50	12.27
Cash and Bank	41.37	263.52	1,083.36	615.03
Other Current Assets	8.66	24.32	25.56	36.74
Short Term Loans and Advances	20.27	75.21	227.71	595.43
Total Current Assets	568.96	993.90	4,218.15	8,527.71
Net Current Assets (Including Current Investments)	439.24	351.37	2,110.99	3,747.29
Total Assets	2,207.20	3,036.52	7,157.87	12,241.74
Contingent Liabilities	53.57	50.71	50.71	0.71
Total Debt	824.39	951.00	1,580.07	2,376.24
		79.32	138.95	147.29
Adjusted Book Value	0.00	79.32	138.95	147.29

Cash Flow

consolidated figures in ₹ Crores

Particulars	FY 2022-23 (Mar)	FY 2023-24 (Mar)	FY 2024-25 (Mar)	FY 2025-26 (Mar)
No of Months	12.00	12.00	12.00	12.00
	22.08	-67.74	37.62	23.25
Adjustment	19.18	87.01	10.47	9.03
Changes In working Capital	-465.37	257.72	248.85	-591.10
Cash Flow after changes in Working Capital	-424.11	276.99	296.94	-558.83
Cash Flow from Operating Activities	-456.35	270.70	225.01	-615.65
Cash Flow from Investing Activities	-52.14	-291.66	-1,993.08	-291.19
Cash Flow from Financing Activitie	521.29	234.07	1,766.36	879.03
Net Cash Inflow / Outflow	12.79	213.11	-1.72	-27.81
Opening Cash & Cash Equivalents	4.83	17.63	230.74	229.02
Cash & Cash Equivalent on Amalgamation / Take over / Merger				3.67
Closing Cash & Cash Equivalent	17.63	230.74	229.02	204.88

Ratios

Valuation

808.70

3.87

96.80

46.78

0.71

147.69

Profitability

0.68

2.05

0.16

11.90

7.87

Leverage & Liquidity

0.99

1.78

1.36

Returns

0.00

0.02

Shareholding Pattern

Numbers in percentages

Particulars	Jun '24	Sep '24	Dec '24	Mar '25	Jun '25	Sep '25	Dec '25	Mar '26	Jun '26
	49.42	45.26	45.25	45.25	45.24	45.24	44.91	45.27	45.26
	27.57	33.27	33.55	33.72	33.38	33.38	33.43	33.52	34.04
	23.01	21.47	21.19	21.01	21.37	21.38	21.66	21.21	20.71
	50.58	54.74	54.75	54.75	54.76	54.76	55.09	54.73	54.74
No. of Shareholders	26,305	28,172	28,378	30,079	31,058	32,113	31,336	30,720	29,722

Corporate Actions

Showing: All

Date	Type	Details
2026-08-25	Board Meeting	Preferential Issue of shares & Inter alia, to consider and approve the issue of equity shares of the Company by way of preferential issue, in accordance with the applicable laws and shall be subject to such regulatory/ statutory approvals, as may be required, including the approval of the shareholders of the Company.
2026-08-12	Board Meeting	Quarterly Results
2026-07-29	AGM

Insider Trading

Date	Person	Category	Transaction Type	Shares	Value (₹)

No insider trading data available.

Sector Overview

RealtyConstruction - Real Estate

Max Estates Ltd. operates in the Realty sector under the Construction - Real Estate industry. This sector is one of the key drivers of the Indian economy and is closely tracked by the relevant Nifty sectoral index.

Company Profile

Corporate information and contact details

Key Management

12 members across the board and senior leadership

Abhishek Mishra

Company Secretary & Compliance Officer

—

Analjit Singh

Chairman

₹8.00 L

Mar '26

Sahil Vachani

Vice Chairman & Managing Director

₹6.87 Cr

Mar '26

DK Mittal