Max Estates Limited — PPTs, 23-05-2025: Investor Presentation

1. Financial Highlights:

Max Estates reported total revenue of Rs. 160.5 Cr for FY25, with EBITDA of Rs. 45 Cr, PBT at Rs. 38 Cr, and PAT of Rs. 27 Cr. Lease rental income jumped 67% YoY to Rs. 110 Cr, driven by near 100% occupancy across 1.2 million sq. ft. of commercial assets. Residential sales value (GDV) reached Rs. 5,321 Cr, beating guidance by 40%, with collections at Rs. 980 Cr. The company holds Rs. 1,785 Cr in cash against Rs. 1,350 Cr of debt, resulting in a net cash surplus of Rs. 435 Cr.

2. Strategic Initiatives & Growth Drivers:

Focused on scaling its Delhi NCR portfolio, Max Estates targets Rs. 21,000 Cr GDV over three years through acquisitions and new launches. Key projects like Estate 128 and Estate 360 are on track. Technology adoption including AutoDesk, BIM, and AI supports strong execution, while sustainability efforts with LEED/IGBC certifications and Net Zero initiatives reinforce long-term competitiveness.

3. Business Developments:

Recent acquisitions include 2.6 mn sq. ft. in Sector 105 Noida (GDV Rs. 3000+ Cr) and 2.5 mn sq. ft. in Delhi One, Noida (GDV Rs. 2000+ Cr). MoUs with New York Life Insurance secured Rs. 500+ Cr for these projects, adding to Rs. 1,800 Cr institutional commitments. Equity raises totaling Rs. 950 Cr enhance financial flexibility. New large-scale projects are planned in Gurugram and Delhi.

4. Market Position & Competitive Advantage:

With 17 million sq. ft. diversified assets in residential, commercial, and mixed-use segments, Max Estates offers integrated live-work-play environments concentrated in Delhi NCR. Premium rentals (20-30% above micro-market) and near-full occupancy are backed by marquee tenants like Adobe and BBC. The New York Life partnership strengthens financial credibility. ESG-focused design philosophies (LiveWell, WorkWell) further boost brand differentiation.

5. Investor Implications:

Strong sales momentum, premium leasing yields, and a net cash surplus position Max Estates well for growth. Institutional investments and steady project execution lower risks. ESG initiatives add to sustainable value creation. Investors should watch execution of marquee projects and sales trends over FY26-28 as critical drivers for value realization.