New Delhi, Apr 6: Max Estates Limited today announced its pre-sales performance for FY2026, achieving total pre-sales of approximately INR 5,305 crore. The strong performance was largely driven by the fourth quarter, which contributed around INR 3,392 crore, reinforcing the company’s position among India’s top-tier real estate developers.
Project-Wise Highlights
Estate 361, Gurugram
Launched in December 2025 in Sector 36A, Gurugram, Estate 361 recorded pre-sales of approximately INR 1,704 crore. Positioned as India’s first forest-anchored intergenerational residential community, the project spans ~18.23 acres with over 250,000 sq. ft. of forest greens and 1,000+ indigenous trees. The development achieved an average realization of ~INR 22,000 per sq. ft., reflecting strong market acceptance for its nature-first, wellness-focused design philosophy.
Estate 105, Noida
Launched on March 20, 2026, Estate 105 generated approximately INR 1,783 crore in pre-sales within just 10 days of launch. Spread across ~10.33 acres, the first phase carries a gross development value (GDV) of ~INR 3,000 crore, indicating strong initial traction and buyer confidence.
Max One, Noida
With RERA approval secured on March 7, 2026, Max One contributed approximately INR 1,415 crore to FY26 pre-sales. The project marks the revival of the long-delayed ‘Delhi One’ development in Sector 16B, Noida, following the company’s acquisition of Boulevard Projects Private Limited (BPPL). The move provided long-awaited relief to existing homebuyers while driving renewed sales momentum.
Financial & Operational Performance
The company reported collections of approximately INR 1,578 crore in FY26. With annual collections typically ranging between 20–25% of project value, Max Estates continues to fund construction without incurring additional debt for residential projects.
Maintaining a strong balance sheet, total debt stood at ~INR 1,859 crore as of March 2026, including lease rental discounting (LRDs) of INR 968 crore. Cash and cash equivalents were recorded at ~INR 1,685 crore, resulting in a net debt of approximately INR 174 crore.
Sustained Growth Trajectory
Max Estates has demonstrated a significant scale-up in operations over recent years:
- FY2024: INR 1,841 crore
- FY2025: INR 5,321 crore
- FY2026: INR 5,305 crore
Maintaining a pre-sales run rate of over INR 5,000 crore for two consecutive years highlights the company’s resilience and growth momentum in a dynamic macroeconomic environment.
Future Outlook
Looking ahead to FY2027, the company has strong growth visibility supported by a GDV pipeline exceeding INR 16,000 crore. Key projects driving this pipeline include Estate 105, Max One, Estate 361, and a new residential development in Sector 59, Gurugram.
Max Estates aims to add approximately 2 million sq. ft. annually in the residential segment and 1 million sq. ft. in the commercial segment. Its commercial portfolio remains fully leased, generating annual rental income of over INR 150 crore, with potential to scale up to INR 700+ crore over the next five years.
Management Commentary
Commenting on the performance, Sahil Vachani said,
“Achieving ~INR 5,305 crore in pre-sales for the second consecutive year, with a remarkable INR 3,392 crore in Q4 alone, reflects the strength of our wellbeing-focused LiveWell and WorkWell offerings. The strong response to Estate 105 and Estate 361 validates our belief in thoughtfully designed, wellness-led communities. As we enter FY27, we have strong visibility on growth backed by a robust GDV pipeline and a disciplined balance sheet with net debt of ~INR 174 crore.”
With consistent performance, strong project pipeline, and a focus on wellness-driven real estate, Max Estates continues to strengthen its footprint in the NCR market.
