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Max Estates Overview

Max Estates Ltd is a dynamic real estate company dedicated to crafting innovative and sustainable spaces. With a focus on commercial and residential developments, the company is known for its commitment to quality, design excellence, and customer satisfaction. Max Estates leverages cutting-edge technology and industry expertise to create modern, functional, and environmentally conscious properties. The company's portfolio showcases a diverse range of projects, including office complexes, retail spaces, and residential communities. Committed to ...Read More

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Max Estates Key Financials

Market Cap ₹6424 Cr.

Stock P/E 243

P/B 2.7

Current Price ₹393

Book Value ₹ 147.6

Face Value 10

52W High ₹563.7

Dividend Yield 0%

52W Low ₹ 305.6

Max Estates Share Price

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Volume
Price

Max Estates Quarterly Price

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Max Estates Peer Comparison

Max Estates Quarterly Results

#(Fig in Cr.) Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
Net Sales 20 24 30 40 40 40 40 51 49 50
Other Income 7 6 9 7 13 32 38 29 26 22
Total Income 28 30 39 48 53 72 77 80 75 71
Total Expenditure 20 18 22 25 32 28 31 38 39 47
Operating Profit 8 13 16 22 21 43 47 43 36 25
Interest 11 14 14 17 14 15 17 17 16 16
Depreciation 6 7 8 9 8 8 9 8 8 8
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0
Profit Before Tax -9 -8 -6 -3 -1 20 21 17 12 1
Provision for Tax -5 -1 -2 -1 0 5 7 5 4 1
Profit After Tax -5 -8 -5 -2 -1 16 14 12 8 0
Adjustments 5 4 3 4 4 0 3 -0 -1 0
Profit After Adjustments 0 -3 -1 2 2 16 17 11 7 0
Adjusted Earnings Per Share 0 -0.2 -0.1 0.1 0.1 1 1.1 0.7 0.5 0

Max Estates Profit & Loss

#(Fig in Cr.) Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 107 93 160 190
Other Income 24 27 89 115
Total Income 131 120 250 303
Total Expenditure 76 75 116 155
Operating Profit 56 45 134 151
Interest 19 43 62 66
Depreciation 15 25 34 33
Exceptional Income / Expenses 0 -44 0 0
Profit Before Tax 22 -68 38 51
Provision for Tax 4 -13 11 17
Profit After Tax 18 -55 26 34
Adjustments 1 13 14 2
Profit After Adjustments 19 -42 41 35
Adjusted Earnings Per Share 0 -2.9 2.5 2.3

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 72% 0% 0% 0%
Operating Profit CAGR 198% 0% 0% 0%
PAT CAGR 0% 0% 0% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR -10% NA% NA% NA%
ROE Average 2% -1% -1% -1%
ROCE Average 3% 1% 1% 1%

Max Estates Balance Sheet

#(Fig in Cr.) Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 1211 1171 2278
Minority's Interest 43 280 382
Borrowings 751 863 1470
Other Non-Current Liabilities 73 81 920
Total Current Liabilities 130 643 2107
Total Liabilities 2207 3037 7158
Fixed Assets 22 22 18
Other Non-Current Assets 1616 2021 2921
Total Current Assets 569 994 4218
Total Assets 2207 3037 7158

Max Estates Cash Flow

#(Fig in Cr.) Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 5 18 231
Cash Flow from Operating Activities -456 271 225
Cash Flow from Investing Activities -52 -292 -1993
Cash Flow from Financing Activities 521 234 1766
Net Cash Inflow / Outflow 13 213 -2
Closing Cash & Cash Equivalent 18 231 229

Max Estates Ratios

# Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) 0 -2.87 2.53
CEPS(Rs) 0 -2.02 3.76
DPS(Rs) 0 0 0
Book NAV/Share(Rs) 0 79.32 138.95
Core EBITDA Margin(%) 29.51 19.12 27.66
EBIT Margin(%) 37.92 -26.63 61.99
Pre Tax Margin(%) 20.57 -72.88 23.44
PAT Margin (%) 17.2 -59.31 16.47
Cash Profit Margin (%) 31.09 -31.98 37.71
ROA(%) 0.84 -2.1 0.52
ROE(%) 1.74 -4.95 1.55
ROCE(%) 2 -1.19 3.31
Receivable days 19.66 27.09 25.61
Inventory Days 1315.66 1806.06 3204.38
Payable days 458.03 0 0
PER(x) 0 0 153.6
Price/Book(x) 0 3.46 2.8
Dividend Yield(%) 0 0 0
EV/Net Sales(x) 7.29 50.88 42.37
EV/Core EBITDA(x) 14.08 104.85 50.9
Net Sales Growth(%) 0 -13.41 72.67
EBIT Growth(%) 0 -160.82 501.9
PAT Growth(%) 0 -398.5 147.95
EPS Growth(%) 0 0 188.46
Debt/Equity(x) 0.78 0.81 0.72
Current Ratio(x) 4.39 1.55 2
Quick Ratio(x) 1.4 0.72 0.92
Interest Cover(x) 2.19 -0.58 1.61
Total Debt/Mcap(x) 0 0.24 0.26

Max Estates Shareholding Pattern

# Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Promoter 49.51 49.51 49.42 45.26 45.25 45.25 45.24 45.24 44.91 45.27
FII 29.53 27.61 27.54 27.55 27.78 27.43 27.12 26.6 25.66 25.88
DII 0.01 0.19 0.03 5.72 5.77 6.29 6.26 6.78 7.77 7.64
Public 20.95 22.68 23.01 21.47 21.19 21.02 21.37 21.38 21.66 21.21
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Max Estates News

Max Estates Pros & Cons

Pros

Cons

  • Promoter holding is low: 45.27%.
  • Company has a low return on equity of -1% over the last 3 years.
  • Earnings include an other income of Rs. 89 Cr.
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