Max Estates Ltd.

•

maxestates.inBSE: 544008NSE: MAXESTATES

Market Cap₹ 8,950 Cr.

Current Price

High / Low₹ 579 / 305

Stock P/E192.6

Book Value₹ 156

Price to Book1.98

Dividend Yield0.00 %

ROCE4.0 %

ROE2.6 %

Face Value₹ 10

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ABOUT

AI Sector View

AI GENERATED

Realty

Buy

Housing and construction indicators remain supportive for real estate. The housing index reached 105 (Mar/26), residential property prices rose 4.21% (Mar/26), construction output was 5.4% (Jul/26), and cement output accelerated to 13.1% YoY (2026-07). Bank lending rates are steady at 8.96% (Aug/26) rather than easing, but FPI flows turned positive with INR 1999 crore net inflow over 3 months to 2026-08-31 from INR -7216 crore previously.

Confidence

75%

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PROS

Company is almost debt free
Company comfortably covers its interest (17.3x coverage)

CONS

Company is loss-making at the operating / net level
Operating cash flow has been negative in recent years
A large part of profit comes from other income (131.5% of PBT)
Recent results are weak - TTM profit is down 47.0% versus prior year
Company has a low return on capital employed of 8.2%
Company has a low return on equity of 6.8% over last 3 years

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

RealtyRealtyConstruction - Real Estate

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	DLF	656.40	36.55	162479.46	1.22	793.90	-89.59	1280.34	-52.87	6.81	49.68
2.	LODHA	1165.45	28.23	116454.47	0.36	1373.10	103.39	4996.70	43.10	16.89	38.51
3.	PHOENIXLTD	1897.90	53.03	67883.68	0.13	394.51	22.95	1074.94	12.80	15.41	59.77
4.	PRESTIGE	1541.85	58.31	66412.14	0.13	271.40	-12.87	2675.10	15.94	11.51	31.75
5.	OBEROIRLTY	1796.30	24.84	65313.87	0.45	543.51	29.02	1300.89	31.73	17.69	56.75
6.	GODREJPROP	1860.00	35.01	56028.13	0.54	349.38	-41.61	506.17	16.48	8.37	-57.98
7.	ANANTRAJ	613.40	38.15	22074.85	0.16	149.19	18.50	631.40	6.58	12.23	29.53
8.	BRIGADE	662.00	31.08	21598.36	0.23	216.94	37.35	1115.55	-12.93	11.02	32.33
9.	ABREL	1341.65	113.30	14985.65	0.19	-34.59	-27.73	188.85	30.95	-4.54	-30.02
10.	SOBHA	1228.35	56.96	13137.67	0.49	50.85	273.37	1278.15	50.03	6.96	6.07
11.	SIGNATURE	785.75	10.59	11054.40	0.00	-16.53	-148.00	551.99	-36.24	34.77	-8.10
12.	MAXESTATES	547.20	774.04	8950.27	0.00	8.35	-30.00	51.91	0.86	2.05	15.65

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	7	10	6	6	15	7	8	11	14	14	13	14	19
	9	9	9	12	13	11	14	15	15	19	18	21	28
Operating Profit	-2	1	-4	-6	2	-3	-6	-4	-1	-5	-4	-7	-9
OPM %	-25.27%	5.37%	-71.20%	-95.96%	14.04%	-41.98%	-78.22%	-35.40%	-10.28%	-35.34%	-31.90%	-48.77%	-46.67%
	12	12	10	14	14	292	31	29	44	27	29	27	27
Interest	3	3	4	4	5	2	1	1	1	1	1	2	3
Depreciation	1	1	1	2	2	2	2	2	2	2	2	2	2
Profit before Tax	5	8	2	3	9	285	22	23	39	19	22	17	19
Tax %	-120.27%	26.01%	-22.86%	-33.88%	20.26%	15.30%	23.74%	32.73%	24.84%	39.43%	31.63%	52.34%	34.80%
Net Profit	11	6	2	4	7	242	17	15	29	12	15	8	12
	0.78	0.38	0.15	0.28	0.50	16.16	1.17	0.98	1.82	0.72	0.92	0.47	0.74

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	49	29	41	55	61
	49	39	52	73	86
Operating Profit	0	-10	-11	-18	-25
OPM %	0.37%	-33.99%	-27.10%	-31.73%	-41.25%
	50	47	366	127	111
Interest	11	14	9	6	7
Depreciation	5	5	7	7	7
Profit before Tax	33	18	339	96	76
Tax %	1.55%	-32.18%	17.14%	34.02%	38.90%
Net Profit	33	23	281	64	46
EPS	2.22	1.58	17.45	3.89	—
Dividend Payout %	—	0.00%	0.00%	0.00%	—

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: —
3 Years:: 4%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: 25%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: 25%

RETURN ON EQUITY

10 Years:: —
5 Years:: —
3 Years:: 7%
Last Year:: 3%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	0	147	161	163
	1,084	1,108	2,158	2,377
	217	208	58	226
Trade Payables	10	4	7	10
	158	63	106	32
Total Liabilities	1,469	1,529	2,490	2,808
	22	20	16	15
	1,109	1,151	1,490	2,076
	2	2	0	0
	0	11	21	7
Cash & Bank	15	19	327	16
	320	326	636	694
Total Assets	1,469	1,529	2,490	2,808

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	3	-36	-49	-208
Cash from Investing	-106	60	-606	-62
Cash from Financing	125	-24	654	269
	-1	-0	-1	-0

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	49.42	45.26	45.25	45.25	45.24	45.24	44.91	45.27	45.26
	27.54	27.55	27.78	27.43	27.13	26.60	25.67	25.88	25.84
	0.03	5.72	5.77	6.29	6.26	6.78	7.77	7.64	8.19
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	23.01	21.47	21.19	21.01	21.37	21.38	21.66	21.21	20.71

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-03

Copy of Newspaper Publication

2026-09-03 - Max Estates Limited has informed the Exchange about Copy of Newspaper Publication regarding Completion of Dispatch of the Notice convening the Extra-Ordinary General Meeting of the Company

2026-09-03

Shareholders meeting

2026-09-03 - Max Estates Limited has informed the Exchange regarding Notice of Extraordinary General Meeting to be held on September 24, 2026

2026-08-29

Preferential issue

2026-08-29 - Max Estates Limited has informed the Exchange about Preferential issue

2026-08-29

Press Release

2026-08-29 - Max Estates Limited has informed the Exchange regarding a press release dated August 28, 2026, titled "Press Release".

2026-08-29

Outcome of Board Meeting

2026-08-29 - Max Estates Limited has informed the Exchange regarding Outcome of Board Meeting held on August 28, 2026 about the Acquisition by Max Estates Limited of Land Owning Companies.

2026-08-29

General Updates

2026-08-29 - Max Estates Limited has informed the Exchange about General Updates

2026-08-29

Outcome of Board Meeting

2026-08-29 - Max Estates Limited has informed the Exchange regarding Outcome of Board Meeting held on August 28, 2026 entering Share Purchase and Share Subscription Agreement

2026-08-29

Outcome of Board Meeting

2026-08-29 - Max Estates Limited has informed the Exchange regarding Outcome of Board Meeting held on August 28, 2026.

2026-08-29

Outcome of Board Meeting

2026-08-29 - Max Estates Limited has informed the Exchange regarding Outcome of Board Meeting held on August 28, 2026.

News

Recent coverage and analyst commentary for MAXESTATES

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Max Estates Ltd.

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Free 5nance Account

Name

DLF

656.40

36.55

162479.46

1.22

793.90

-89.59

1280.34

-52.87

6.81

49.68

LODHA

1165.45

28.23

116454.47

0.36

1373.10

103.39

4996.70

43.10

16.89

38.51

PHOENIXLTD

1897.90

53.03

67883.68

0.13

394.51

22.95

1074.94

12.80

15.41

59.77

PRESTIGE

1541.85

58.31

66412.14

0.13

271.40

-12.87

2675.10

15.94

11.51

31.75

OBEROIRLTY

1796.30

24.84

65313.87

0.45

543.51

29.02

1300.89

31.73

17.69

56.75

GODREJPROP

1860.00

35.01

56028.13

0.54

349.38

-41.61

506.17

16.48

8.37

-57.98

ANANTRAJ

613.40

38.15

22074.85

0.16

149.19

18.50

631.40

6.58

12.23

29.53

BRIGADE

662.00

31.08

21598.36

0.23

216.94

37.35

1115.55

-12.93

11.02

32.33

ABREL

1341.65

113.30

14985.65

0.19

-34.59

-27.73

188.85

30.95

-4.54

-30.02

SOBHA

1228.35

56.96

13137.67

0.49

50.85

273.37

1278.15

50.03

6.96

6.07

SIGNATURE

785.75

10.59

11054.40

0.00

-16.53

-148.00

551.99

-36.24

34.77

-8.10

MAXESTATES

547.20

774.04

8950.27

0.00

8.35

-30.00

51.91

0.86

2.05

15.65

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

Operating Profit

-2

-4

-6

-3

-6

-4

-1

-5

-4

-7

-9

OPM %

-25.27%

5.37%

-71.20%

-95.96%

14.04%

-41.98%

-78.22%

-35.40%

-10.28%

-35.34%

-31.90%

-48.77%

-46.67%

292

Interest

Depreciation

Profit before Tax

285

Tax %

-120.27%

26.01%

-22.86%

-33.88%

20.26%

15.30%

23.74%

32.73%

24.84%

39.43%

31.63%

52.34%

34.80%

Net Profit

242

0.78

0.38

0.15

0.28

0.50

16.16

1.17

0.98

1.82

0.72

0.92

0.47

0.74

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

Operating Profit

-10

-11

-18

-25

OPM %

0.37%

-33.99%

-27.10%

-31.73%

-41.25%

366

127

111

Interest

Depreciation

Profit before Tax

339

Tax %

1.55%

-32.18%

17.14%

34.02%

38.90%

Net Profit

281

EPS

2.22

1.58

17.45

3.89

—

Dividend Payout %

—

0.00%

—

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

147

161

163

1,084

1,108

2,158

2,377

217

208

226

Trade Payables

158

106

Total Liabilities

1,469

1,529

2,490

2,808

1,109

1,151

1,490

2,076

Cash & Bank

327

320

326

636

694

Total Assets

1,469

1,529

2,490

2,808

Mar 2023

Mar 2024

Mar 2025

Mar 2026

-36

-49

-208

Cash from Investing

-106

-606

-62

Cash from Financing

125

-24

654

269

-1

-0

-1

-0

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

49.42

45.26

45.25

45.24

44.91

45.27

45.26

27.54

27.55

27.78

27.43

27.13

26.60

25.67

25.88

25.84

0.03

5.72

5.77

6.29

6.26

6.78

7.77

7.64

8.19

Government

0.00

23.01

21.47

21.19

21.01

21.37

21.38

21.66

21.21

20.71

Max Estates Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI

Max Estates Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI