MAXESTATES

Max Estates Limited

Max Estates Limited (MAXESTATES) financial statements and selected valuation metrics through 30 June 2026.

Consumer Discretionary›Realty›Realty›Residential, Commercial Projects

maxestates.in(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹525.60
Market cap
8,609 Cr
Stock P/E
744.5
P/B
3.55
ROE (FY26)
0.5%
ROCE (FY26)
1.6%
Operating margin (FY26)
-4.4%
Debt / equity (FY26)
0.98
OCF / EBITDA (FY26)
-2594.3%
OCF / EBITDA (3Y)
-139.6%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

Max Estates develops residential communities and office towers in Delhi NCR (Gurugram and Noida), selling homes ahead of construction and leasing offices to tenants.

Company snapshot

14thBy market cap

Ranked among 79 companies in Residential, Commercial Projects.

What we see

Concerns
  • ✗Over the last three years operations used more cash than they brought in, despite an operating profit — the business is not yet turning its profit into cash.
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Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales20 Cr24 Cr30 Cr40 Cr40 Cr40 Cr40 Cr51 Cr49 Cr50 Cr49 Cr52 Cr
Operating expenses (approx.)20 Cr18 Cr22 Cr25 Cr32 Cr28 Cr31 Cr38 Cr39 Cr47 Cr53 Cr44 Cr
EBITDA0.56 Cr6 Cr8 Cr15 Cr9 Cr12 Cr9 Cr14 Cr10 Cr3 Cr-3 Cr8 Cr
OPM %2.7%25.9%26.0%37.6%21.3%28.9%22.8%27.0%20.7%5.9%-6.5%15.6%
Other income7 Cr6 Cr9 Cr7 Cr13 Cr32 Cr38 Cr29 Cr26 Cr22 Cr21 Cr28 Cr
Interest11 Cr14 Cr14 Cr17 Cr14 Cr15 Cr17 Cr17 Cr16 Cr16 Cr16 Cr17 Cr
Depreciation6 Cr7 Cr8 Cr9 Cr8 Cr8 Cr9 Cr8 Cr8 Cr8 Cr8 Cr8 Cr
Profit before tax-9 Cr-8 Cr-6 Cr-3 Cr-1 Cr20 Cr21 Cr17 Cr12 Cr0.96 Cr-6 Cr11 Cr
Tax %50.0%8.4%25.0%30.6%-14.2%22.6%34.2%29.1%32.8%97.4%33.9%26.6%
Net profit-5 Cr-8 Cr-5 Cr-2 Cr-1 Cr16 Cr14 Cr12 Cr8 Cr0.03 Cr-4 Cr8 Cr
EPS (₹)₹-0.31₹-0.51₹-0.32₹-0.14₹-0.09₹1.04₹0.90₹0.74₹0.49₹0.00₹-0.26₹0.51

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2024Mar 2025Mar 2026TTM
Sales93 Cr160 Cr199 CrSign in free for the trailing twelve months
Operating expenses (approx.)75 Cr116 Cr176 CrSign in free for the trailing twelve months
EBITDA18 Cr44 Cr24 CrSign in free for the trailing twelve months
OPM %19.1%27.7%11.9%Sign in free for the trailing twelve months
Other income27 Cr89 Cr97 CrSign in free for the trailing twelve months
Interest43 Cr62 Cr65 CrSign in free for the trailing twelve months
Depreciation25 Cr34 Cr32 CrSign in free for the trailing twelve months
Profit before tax-68 Cr38 Cr23 CrSign in free for the trailing twelve months
Tax %18.6%29.7%32.5%Sign in free for the trailing twelve months
Net profit-55 Cr26 Cr16 CrSign in free for the trailing twelve months
EPS (₹)₹-3.75₹1.70₹0.97Sign in free for the trailing twelve months
Dividend payout %—0.0%0.0%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2024Mar 2025Mar 2026
Equity capital148 Cr161 Cr163 Cr
Reserves1,023 Cr2,117 Cr2,256 Cr
Borrowings914 Cr1,615 Cr2,379 Cr
Other liabilities737 Cr2,970 Cr6,897 Cr
Total liabilities3,101 Cr7,246 Cr12,437 Cr
Fixed assets (net)19 Cr6 Cr11 Cr
CWIP0 Cr0 Cr0 Cr
Investments1,896 Cr2,616 Cr2,891 Cr
Inventories533 Cr2,285 Cr6,888 Cr
Trade receivables8 Cr15 Cr12 Cr
Cash & bank231 Cr229 Cr205 Cr
Other assets414 Cr2,096 Cr2,430 Cr
Total assets3,101 Cr7,246 Cr12,437 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2024Mar 2025Mar 2026
Cash from operating activity271 Cr225 Cr-616 Cr
Cash from investing-292 Cr-1,993 Cr-291 Cr
Cash from financing234 Cr1,766 Cr879 Cr
Net cash flow213 Cr-2 Cr-24 Cr
Free cash flow (OCF − Capex)-50 Cr-452 Cr-697 Cr

Ratios

MetricMar 2024Mar 2025Mar 2026
ROCE %-1.0%2.3%1.6%
ROE %-2.9%1.5%0.5%
Debtor days313322
Inventory days2093310641652744
Days payable1466160096509
Cash conversion cycle1978249074556258
OCF / EBITDA %1523.2%506.8%-2594.3%
OCF / EBITDA % (3 years)——-139.6%
Debt / equity0.780.710.98
Current ratio1.552.001.79
Net debt / EBITDA38.4631.2191.63