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Max Estates reported revenue, EBITDA and PAT of ₹ 51.9

ICICIdirect Research 17 Aug 2026 DISCLAIMER

News: Max Estates reported revenue, EBITDA and PAT of ₹ 51.9, ₹ 8.1 and ₹ 8.4 crore in Q1FY27. Commercial leasing remained steady, with lease rental income rising 4.5% YoY to ₹ 39.7 crore, while Max Asset Services revenue grew 16% YoY to ₹ 14.6 crore. Total leased area stood at 1.24 mn sq ft as of June 2026. Earlier Max Estates had reported a strong operational update for Q1FY27 with presales at ₹ 1100 crore led by project launch The Terraces phase 1 which is fully sold. Sustenance sales also witnessed healthy activity with Pre-sales from sustenance and new launches sales were ₹ 600 crore and ₹ 500 crore respectively.

View: Max estates follows the project completion method of revenue accounting and has major project completions in FY28E. Going ahead Max Estates has Max one, Estate 361 and Sector 59 planned for launch in FY27E and Sustenance sales from Estate 105.A continued strong response to new project launch and healthy sustenance sales, Max estates expects to chart back to growth track in FY27E after a flat FY26. 

Impact: Neutral

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