Max Estates Q1 FY27: Presales ₹1,100 Cr, PAT ₹8 Cr

Transcript filing under SEBI LODR

Max Estates Ltd (BSE: 544008) uploaded the transcript and audio recording of its Q1 FY27 earnings conference call under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The earnings call was hosted by Ambit Capital Private Limited. The transcript date referenced in the material is August 17, 2026, alongside a release date of August 17, 2026. The company also shared that the complete transcript is available via the exchange filing.

The disclosures bring together operating metrics such as pre-sales and collections, along with consolidated financial performance for the quarter ended June 30, 2026. The update is relevant for investors tracking Max Estates’ residential ramp-up and the stability of its leased commercial portfolio. The filing also includes balance sheet indicators such as gross debt, cash and net debt.

When the call happened and who participated

The call took place on August 17, 2026, with the operator introduction timestamped at 05:30 AM GMT and the company also citing 11:00 AM IST as the scheduled time. Ambit Capital’s Karan Khanna moderated the session. Max Estates’ management participants included Sahil Vachani (Vice Chairman and Managing Director), Vachan Singh (Chief Operating Officer), Nitin Kansal (Chief Financial Officer), and Archit Goyal (Head of Investor Relations).

The company indicated that the format included opening remarks followed by a Q&A with investors and analysts. The filing also carried dial-in access details for participants, consistent with standard investor interaction disclosures under Regulation 30.

Q1 FY27 financial snapshot from the transcript

The earnings call transcript cited consolidated revenue of ₹52 crore in Q1 FY27. It also reported consolidated EBITDA of ₹8 crore, profit before tax (PBT) of ₹11 crore, and profit after tax (PAT) of ₹8 crore for the quarter. These numbers were presented as consolidated figures for the quarter ended June 30, 2026.

Separately, a news report in the provided material stated Max Estates’ consolidated net profit declined 30% year-on-year to ₹8.35 crore in the June quarter, versus ₹11.93 crore in the year-ago period. That report also said total income was broadly unchanged at ₹80.07 crore compared with ₹80.12 crore a year earlier. It further stated revenue from operations increased marginally to ₹51.91 crore from ₹51.47 crore.

Pre-sales: five-fold growth in Q1 FY27

Max Estates disclosed pre-sales of approximately ₹1,100 crore for the quarter, described as a 5x year-on-year growth. Another figure in the provided material put Q1 FY27 pre-sales at ₹1,093 crore, also described as five-fold year-on-year growth. The transcript commentary linked pre-sales momentum to residential demand and referenced the full sellout of Phase 1 of “Terraces at Estate 361 Gurgaon.”

Collections for the quarter were disclosed at approximately ₹575 crore in the transcript highlights. Another update in the material referenced collections of around ₹491 crore for the quarter. In addition, the company communicated an expectation of FY27 collections in the range of ₹2,500 crore to ₹2,700 crore.

Leasing portfolio: 100% occupancy and rental growth

On the commercial side, Max Estates reported that all three operating commercial assets, Max Towers, Max House, and Max Square, were at 100% occupancy. Lease rental income was disclosed at ₹40 crore in Q1 FY27, up 5% year-on-year. The combination of full occupancy and rising rental income was presented as a steady contributor in the quarter.

The disclosures did not indicate any change in the number of operating assets during the period. Instead, the focus remained on utilisation and cash-generation from the existing portfolio. The 100% occupancy data point is particularly important for investors watching the stability of annuity-style income.

Max Asset Services: revenue growth in Q1 FY27

The transcript highlights included Max Asset Services revenue of ₹15 crore in Q1 FY27, reflecting 16% year-on-year growth. This line item was presented separately from lease rentals and sits within the broader operating picture shared on the call.

The filing did not provide a detailed segment split beyond these stated figures in the provided excerpt. Still, the year-on-year growth rate and the absolute quarterly revenue were explicitly disclosed, offering a basis to track the scale of the services business.

Balance sheet: net debt, gross debt and cash

Max Estates disclosed net debt of ₹234 crore as of June 2026. The same disclosure listed gross debt of ₹1,960 crore and cash and cash equivalents of ₹1,727 crore. Presenting both gross and net figures provides clarity on leverage and liquidity, particularly for a real estate company managing construction schedules and collections.

The filing excerpt did not add details on maturities, cost of debt, or the nature of cash balances. However, the disclosed cash figure is large relative to gross debt, resulting in a modest net debt position based on the numbers provided.

Stock move and other figures cited in the material

A market update in the provided text said shares of Max Estates ended at ₹436.25 on the BSE, down ₹3.10 or 0.71%. The same material referenced a “remaining GDV pipeline of over ₹16,150 crore from Q2 FY27 onwards,” positioned as a forward project pipeline number.

The broader content provided also included a separate set of disclosures referring to “Max India Limited” and its Q1 FY27 numbers, including consolidated revenue of ₹68.6 crore and an EBITDA loss of ₹25 crore. Since that entity is distinct from Max Estates, those figures should be treated separately and not conflated with Max Estates’ Q1 FY27 transcript metrics.

Key facts table

Why this filing matters for investors

The transcript provides a consolidated snapshot that connects operational metrics with the quarter’s reported profitability. For Max Estates, the standout disclosed operating indicator is the sharp jump in pre-sales, alongside collection expectations of ₹2,500 to ₹2,700 crore for FY27. In parallel, the company’s commercial portfolio is shown as fully occupied, with lease rentals rising 5% year-on-year to ₹40 crore.

From a balance sheet perspective, the disclosure of ₹1,727 crore in cash and equivalents against ₹1,960 crore of gross debt frames the company’s net debt at ₹234 crore. That combination is useful for investors evaluating funding flexibility through the year, particularly as the company scales residential execution and works through collection cycles.

Conclusion

Max Estates’ Q1 FY27 earnings call transcript, filed under Regulation 30, highlighted five-fold pre-sales growth, collections disclosure for the quarter, and steady commercial occupancy at 100%. The company also reported consolidated revenue of ₹52 crore and PAT of ₹8 crore in the transcript highlights, while separate reporting cited revenue from operations of ₹51.91 crore and net profit of ₹8.35 crore for the June quarter.

Investors will likely track subsequent quarterly filings to see how collections progress against the company’s FY27 expectation of ₹2,500 to ₹2,700 crore, and whether commercial rental growth remains steady at full occupancy.