Max Estates Ltd
Max Estates Ltd (MAXESTATES) last reported results for the quarter ended Jun 2026, with sales of ₹51.91 crore and net profit of ₹8.35 crore. The stock last traded at ₹569, a market capitalisation of ₹9,300 crore, on a P/E of 1584. Over the past 52 weeks the stock has ranged between ₹305 and ₹654. Figures are as of 6 Oct 2026 and are not real time.
Max Estates Ltd share price and key metrics
- Current price
- ₹569
- Market cap
- ₹9,300 cr
- Stock P/E
- 1584
- Book value
- ₹148
- ROE
- -1.27%
- ROCE
- 1.40%
- Dividend yield
- 0.00%
- 52w high / low
- 654/305
Metrics as of 6 Oct 2026. Not real time.
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Max Estates Ltd growth and returns
- 10 Years
- %
- 5 Years
- %
- 3 Years
- 23%
- TTM
- 17%
- 10 Years
- %
- 5 Years
- %
- 3 Years
- %
- TTM
- -88%
- 10 Years
- %
- 5 Years
- %
- 3 Years
- %
- 1 Year
- 17%
- 10 Years
- %
- 5 Years
- 0%
- 3 Years
- -1%
- Last Year
- -1%
Max Estates Ltd quarterly results
In the quarter ended Jun 2026, sales were ₹51.91 cr, up 0.9% from ₹51.47 cr a year earlier. Net profit was ₹8.35 cr, down 30.1% year on year.
| ₹ crore | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 40.18 | 40.04 | 39.78 | 51.47 | 48.77 | 49.77 | 49.43 | 51.91 |
| Expenses | 31.64 | 28.47 | 30.72 | 37.56 | 38.68 | 46.84 | 52.63 | 43.79 |
| Operating profit | 8.54 | 11.57 | 9.06 | 13.91 | 10.09 | 2.93 | -3.2 | 8.12 |
| OPM % | 21.25% | 28.90% | 22.78% | 27.03% | 20.69% | 5.89% | -6.47% | 15.64% |
| Other income | 12.6 | 31.85 | 37.52 | 28.66 | 25.86 | 21.68 | 21.15 | 28.17 |
| Interest | 13.94 | 14.83 | 16.55 | 17.32 | 16.28 | 15.63 | 16.19 | 16.73 |
| Depreciation | 8.41 | 8.16 | 8.76 | 8.41 | 8.04 | 8.02 | 7.93 | 8.17 |
| Profit before tax | -1.21 | 20.43 | 21.27 | 16.84 | 11.63 | 0.96 | -6.17 | 11.39 |
| Tax % | 14.05% | 22.61% | 34.23% | 29.10% | 32.85% | 96.88% | -33.87% | 26.60% |
| Net profit | -1.38 | 15.82 | 13.99 | 11.94 | 7.82 | 0.02 | -4.08 | 8.35 |
| EPS (₹) | 0.13 | 1.23 | 1.08 | 0.71 | 0.45 | -0.07 | -0.31 | 0.29 |
Consolidated figures as reported by the company. Percentages are as published; totals may not sum exactly.
Max Estates Ltd annual results
| ₹ crore | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|
| Sales | 69 | 107 | 93 | 160 | 199 | 200 |
| Operating profit | 31 | 32 | 18 | 44 | 24 | 18 |
| OPM % | 44% | 30% | 19% | 28% | 12% | 9% |
| Net profit | 5 | 18 | -55 | 26 | 16 | 12 |
| EPS (₹) | — | — | -2.87 | 2.53 | 0.77 | 0.36 |
TTM is the trailing twelve months to the most recent quarter.
Max Estates Ltd balance sheet
| ₹ crore | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Equity capital | 78 | 0.00 | 147 | 161 | 163 |
| Reserves | 531 | 1,211 | 1,024 | 2,117 | 2,256 |
| Borrowings | 315 | 862 | 962 | 1,656 | 2,412 |
| Other liabilities | 101 | 144 | 961 | 3,295 | 7,582 |
| Total liabilities | 1,025 | 2,216 | 3,094 | 7,229 | 12,414 |
| Fixed assets | 898 | 1,427 | 1,826 | 2,047 | 2,523 |
| CWIP | 0 | 0 | 0 | 0 | 0 |
| Investments | 13 | 160 | 93 | 587 | 385 |
| Other assets | 114 | 629 | 1,175 | 4,596 | 9,506 |
| Total assets | 1,025 | 2,216 | 3,094 | 7,229 | 12,414 |
As reported by the company. Total assets equal total liabilities by construction.
Max Estates Ltd cash flow
| ₹ crore | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Cash from operations | 41 | -456 | 271 | 225 | -616 |
| Cash from investing | -121 | -52 | -292 | -1,993 | -288 |
| Cash from financing | 78 | 521 | 234 | 1,766 | 879 |
| Net cash flow | -2 | 13 | 213 | -2 | -24 |
| Free cash flow | -88 | -979 | -50 | -452 | -696 |
| CFO / operating profit | 147% | -1,339% | 1,559% | 669% | -2,322% |
Negative figures are outflows. CFO / operating profit is a ratio, not an amount.
Max Estates Ltd operating ratios
| Per year | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| ROCE % | — | 2% | 0% | 3% | 1% |
| Debtor days | 10 | 20 | 31 | 33 | 22 |
| Inventory days | 271 | 6,553 | — | — | — |
| Days payable | 197 | 458 | — | — | — |
| Cash conversion cycle | 85 | 6,115 | 31 | 33 | 22 |
| Working capital days | -105 | 993 | 6 | 1,013 | 5,036 |
Ratios as computed by the source from the reported statements. Rows a company does not report are omitted.
Max Estates Ltd shareholding pattern
Promoters held 45.25% at Jun 2026, broadly unchanged since Jun 2025. FIIs 25.84% and DIIs 8.20%.
| % held | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters | 45.26% | 45.25% | 45.25% | 45.24% | 45.23% | 44.90% | 45.27% | 45.25% |
| FIIs | 27.55% | 27.78% | 27.43% | 27.13% | 26.60% | 25.67% | 25.88% | 25.84% |
| DIIs | 5.72% | 5.79% | 6.30% | 6.27% | 6.80% | 7.78% | 7.65% | 8.20% |
| Public | 21.47% | 21.18% | 21.01% | 21.36% | 21.37% | 21.65% | 21.19% | 20.69% |
| No. of shareholders | 28,172 | 28,378 | 30,079 | 31,058 | 32,113 | 31,336 | 30,720 | 29,722 |
As disclosed by the company to the exchanges. The last row is a count of shareholders, not a percentage.
Max Estates Ltd corporate filings
- Max Estates Ltd issues Show Cause Notice under SEBI regulationsCompany Updatelow impact
Cruxal's analysis: Max Estates Ltd, a small-cap company with a market cap of approximately 9,256 crore, has…
Read the full analysis - Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018Company Updatelow impact
Cruxal's analysis: Please find attached the certificate.
Read the full analysis - Max Estates reports ~INR 3,200 Crore pre-sales in H1FY27Company Updatelow impact
Cruxal's analysis: Max Estates Ltd announced pre-sales of approximately INR 3,200 crore for the first half…
Read the full analysis - Max Estates Ltd releases GRESB Rating update via press releaseCompany Updatelow impact
Cruxal's analysis: Max Estates Ltd, a small-cap company with a market cap of approximately 9,306 crore…
Read the full analysis - Closure of Trading WindowInsider Trading / SASTlow impact
Cruxal's analysis: Please refer the enclosed intimation related to the closure of trading window effective…
Read the full analysis - Max Estates Limited shareholders approve material related party transactions and preferential share swap acquisitionAGM/EGMmedium impact
Cruxal's analysis: Max Estates Limited has received shareholder approval at its Extra-Ordinary General…
Read the full analysis - Max Estates Limited Secures Shareholder Approval for Strategic Acquisition of 84.7 Acres in Najafgarh, Delhi via Share SwapAGM/EGMhigh impact
Cruxal's analysis: Max Estates Limited has received shareholder approval at its Extra-Ordinary General…
Read the full analysis - Max Estates Ltd announces schedule of institutional investor meetingsCompany Updatelow impact
Cruxal's analysis: Max Estates Ltd has issued an intimation regarding a schedule of upcoming institutional…
Read the full analysis - Max Estates Ltd releases corporate press releaseCompany Updatelow impact
Cruxal's analysis: Max Estates Ltd has filed a press release under Regulation 30 of the SEBI (LODR)…
Read the full analysis - Max Estates Ltd allots 14,931 equity shares under ESOP schemeCompany Updatelow impact
Cruxal's analysis: Max Estates Ltd has announced the allotment of 14,931 equity shares following the…
Read the full analysis - Max Estates Ltd announces newspaper publication regarding EGM notice dispatchCompany Updatelow impact
Cruxal's analysis: Max Estates Ltd has published newspaper advertisements confirming the completion of the…
Read the full analysis - Max Estates to Acquire 84.7 Acre Land Platform in Delhi via INR 420.23 Crore Share SwapAGM/EGMhigh impact
Cruxal's analysis: Max Estates Limited has announced a strategic acquisition of nine land-owning companies…
Read the full analysis - Max Estates Ltd announces issuance of securities under Regulation 30Company Updatelow impact
Cruxal's analysis: Max Estates Ltd has filed an announcement regarding the issuance of securities under…
Read the full analysis - Max Estates to Acquire 84.71-Acre Delhi Land Parcel via Non-Cash Share Swap, Unlocking INR 10,000-12,000 Crore GDVCompany Updatehigh impact
Cruxal's analysis: Max Estates Limited has entered into a definitive agreement to acquire 84.71 acres of…
Read the full analysis - Max Estates Ltd releases investor presentation for August 2026Company Updatelow impact
Cruxal's analysis: Max Estates Ltd has filed an investor presentation dated August 29, 2026. The document…
Read the full analysis - Max Estates to acquire 84.7-acre Delhi land platform for INR 420.23 crore via preferential share swapBoard Meetinghigh impact
Cruxal's analysis: Max Estates Limited has announced the acquisition of nine 'Land Owning Companies' holding…
Read the full analysis - Max Estates Limited announces Board meeting to consider preferential issue of equity sharesBoard Meetingmedium impact
Cruxal's analysis: Max Estates Limited has scheduled a Board of Directors meeting for August 28, 2026, to…
Read the full analysis - Max Estates Reports Strong Q1 FY27 Performance with 5x YoY Pre-sales Growth to INR 1,100 CroreCompany Updatehigh impact
Cruxal's analysis: Max Estates Limited delivered a robust Q1 FY27, achieving pre-sales of INR 1,100 crore, a…
Read the full analysis - Max Estates Limited announces successful conclusion of 10th Annual General Meeting with all resolutions passedAGM/EGMlow impact
Cruxal's analysis: Max Estates Limited has successfully concluded its 10th Annual General Meeting held on…
Read the full analysis - Max Estates Limited concludes 10th Annual General Meeting; re-appointment of Non-Executive Director on agendaAGM/EGMlow impact
Cruxal's analysis: Max Estates Limited has successfully concluded its 10th Annual General Meeting held on…
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