Max Estates

Max Estates’ board approved the acquisition of nine land-owning companies holding an approximately 84.7-acre platform in Sector 3, Najafgarh, Delhi. The platform was described as carrying 4-6 million sq ft of development potential. Each company was to become a wholly owned subsidiary, subject to shareholder, stock-exchange and other regulatory approvals, with completion targeted by 9 October 2026. The ₹420.23 crore consideration comprised a preferential issue of up to 70,33,162 shares at ₹597.50 each, issued through a share swap rather than cash. The transaction was a related-party deal conducted at arm’s length. Max Estates’ portfolio comprised residential projects in Noida and Gurugram and operating commercial assets across the National Capital Region. It reported roughly ₹200 crore of consolidated operating revenue in FY26, including ₹158 crore of commercial lease income, while residential pre-sales were ₹5,305 crore.

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Max Estates’ board approved the proposed acquisition of nine land-owning companies holding about 84.7 acres in Sector 3, Najafgarh, Delhi, as part of a single composite transaction. It authorised the issue of up to 70,33,162 new shares at ₹597.50 each, valued at ₹420.23 crore, to the sellers through a preferential share swap. Independent valuation reports placed the underlying land at ₹4.95 crore per acre, while the platform was estimated to offer 4-6m sq ft of development potential. Its NCR portfolio covered 18.4m sq ft, while FY26 pre-sales were ₹5,305 crore. The transaction was subject to shareholder, stock-exchange and other regulatory approvals, with completion tentatively expected by October 9, 2026.

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Max Estates' board approved the proposed acquisition of nine land-owning companies holding an approximately 84.7-acre platform in Sector 3, Najafgarh, Delhi. The consideration was to be discharged through a preferential share swap of up to 70,33,162 shares at ₹597.50 each, valued at ₹420.23 crore, with completion targeted by October 9 subject to shareholder, exchange and other approvals. The platform was estimated to carry 4-6m sq ft of development potential within Delhi's land-pooling framework. Eight of the target companies were part of the promoter group and Synergy Infracon was related through two company directors; the transaction was to be undertaken on an arm's-length basis. Max Estates had an 18.4m sq ft NCR portfolio, FY26 pre-sales of ₹5,305 crore and collections of ₹1,578 crore.

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Max Estates entered into an agreement to acquire about 84.71 acres in West Delhi through nine promoter-owned land-holding companies. The consideration was structured as a non-cash share swap, with up to 70 lakh shares to be issued at ₹597.50 each, valuing the transaction at up to ₹420.2 crore, subject to shareholder and exchange approvals. The parcel was estimated to support ₹10,000-12,000 crore of gross development value and marked the company's first residential foothold in Delhi, extending its NCR portfolio beyond Noida and Gurugram. Max Estates had a residential GDV pipeline of about ₹16,150 crore from Q2 FY27, while cash and equivalents stood at about ₹1,727 crore at the end of June.

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Max Estates announced plans to acquire a roughly 84.71-acre land bank in West Delhi for about ₹420.2 crore, to be paid entirely through a preferential allotment of its equity rather than cash. The parcel was estimated to support 4-6m sq ft of developable area and ₹10,000-12,000 crore of gross development value, subject to shareholder and regulatory approvals. The transaction would add the company's first residential land bank inside Delhi's NCT to a portfolio centred on Noida and Gurugram. Max Estates' residential pipeline was estimated at about ₹16,150 crore in the first quarter of FY27, while FY26 presales were ₹5,305 crore.

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Max Estates' board approved a composite transaction to acquire the entire ownership interest in nine land-owning companies holding about 84.7 acres in Sector 3, Najafgarh, Delhi. Eight targets were part of the promoter group and the ninth was a related party through directors and shareholders; the transaction was described as arm's length. The land platform was valued at ₹4.95 crore an acre and was estimated to carry 4-6 million sq. ft. of development potential. Consideration comprised up to 70,33,162 Max Estates shares issued at ₹597.50 each, valued at ₹420.23 crore, subject to shareholder and regulatory approvals. Max Estates' NCR portfolio measured 18.4 million sq. ft., while FY26 pre-sales and collections were ₹5,305 crore and ₹1,578 crore, respectively.

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** Real estate developer Max Estates MAXS.NS shares rise 3.6% to 576.1 rupees, highest since Jan 2025

** Company's board to meet on August 28 to consider a preferential issue of equity shares

** Max Estates reported pre-sales of 11 billion Indian rupees ($115.29 million) in Q1 FY27

** All 4 brokerages covering the stock rate it "buy" or higher; median PT is 620 rupees

** YTD, MAXS up 27%

($1 = 95.4125 Indian rupees)

(Reporting by Abhinav Parmar in Bengaluru)

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Max Estates scheduled a board meeting for August 28, 2026, to consider issuing equity shares through a preferential issue, subject to regulatory and shareholder approvals. The notice did not specify the issue size, price, proposed investor or use of proceeds. The company last raised ₹800 crore through a QIP in August 2024, including a ₹388 crore investment by NYL for a 49% stake in its core commercial real-estate assets. At June-end, Max Estates had ₹1,727 crore of cash and ₹1,961 crore of debt, including ₹934 crore of lease-rental-discounting borrowings.

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Max Estates reported pre-sales of approximately ₹1,100 crore for the first quarter of fiscal 2027, a more than fivefold increase from the same period last year. The company sold 487 units in the quarter, compared with just 43 units in Q1 FY2026. The newly launched Phase 1 of The Terraces was fully sold for ₹500 crore, while sustenance sales contributed another ₹600 crore. Collections for the quarter came in at around ₹500 crore. The developer said its total pipeline stands at over ₹17,200 crore in gross development value and reiterated its target of adding 2 million square feet of residential space and 1 million square feet of commercial space every year.

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July 3 (Reuters) - Max Estates Ltd MAXS.NS:

• MAX ESTATES - ACHIEVED COLLECTIONS OF 5 BILLION RUPEES IN Q1FY2027

• MAX ESTATES LTD - ACHIEVED TOTAL PRE-SALES OF 11 BILLION RUPEES IN Q1

Source text: [ID:]

Further company coverage: MAXS.NS

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May 13 (Reuters) - Max Estates Ltd MAXS.NS:

• MAX ESTATES LTD - LAUNCHES THE TERRACES AT ESTATE 361, GURUGRAM

• MAX ESTATES LTD - THE TERRACES PROJECT HAS GROSS DEVELOPMENT VALUE OF 12 BILLION RUPEES

Source text: ID:nBSEb9rQd3

Further company coverage: MAXS.NS

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April 6 (Reuters) - Max Estates Ltd MAXS.NS:

• ACHIEVES COLLECTIONS OF 15.78 BILLION RUPEES IN FY2026

• 53.05 BILLION RUPEES PRE-SALES IN FY2026

Source text: ID:nNSE4XTwyf

Further company coverage: MAXS.NS

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March 20 (Reuters) - Max Estates Ltd MAXS.NS:

• MAX ESTATES - LAUNCHES ESTATE 105 RESIDENTIAL COMMUNITY WITH GDV 30 BILLION RUPEES

Source text: ID:nBSEc1gjk8

Further company coverage: MAXS.NS

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** Shares of real estate developer Max Estates MAXS.NS rise 3.7% to 507 rupees, their highest intraday gain since May 26

** Axis Capital initiates coverage with a 'buy' rating; sets target price at 810 rupees, implying about 65% upside from last close

** Brokerage expects rental income to expand 8.5x over FY25–32E to 9.3 billion rupees ($108.66 million) from 1.1 bln rupees

** Axis expects co to deliver 19% CAGR in pre-sales over FY25-28E in line with medium-term target due to existing pipelines and potential deals

** Adds, strong balance sheet with 7.8 billion rupees net cash and consistent business development are key positives

** Stock down 10% YTD

($1 = 85.5880 Indian rupees)

(Reporting by Rudra Pratap Singh in Bengaluru)

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April 4 (Reuters) - Max Estates Ltd MAXS.NS:

• MAX ESTATES LTD - GST DEPARTMENT PROPOSES RECOVERY OF 22.5 MILLION RUPEES WITH INTEREST AND PENALTY

Source text: ID:nNSE9tFWTv

Further company coverage: MAXS.NS

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Jan 24 (Reuters) - Max Estates Ltd MAXS.NS:

• SECURES 10.33 ACRE LAND IN NOIDA FOR 7.11 BILLION RUPEES

• PROJECT GDV POTENTIAL OF MORE THAN 30 BILLION RUPEES

• LAND ACQUISITION REQUIRES 2.84 BILLION RUPEES PAYMENT

Source text: ID:nBSEbz1ZbF

Further company coverage: MAXS.NS

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Dec 27 (Reuters) - Max Estates Ltd MAXS.NS:

• ACHIEVES PRE-SALES BOOKING VALUE OF 8.45 BILLION RUPEES FOR PHASE 2 ESTATE PROJECT

Source text: ID:nNSEbB3vh3

Further company coverage: MAXS.NS

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** Shares of Indian real estate firm Max Estates MAXS.NS jump 7.1% to 587.4 rupees

** Consolidated loss narrowed to 1.38 bln rupees ($16.4 mln) from 4.52 bln rupees a year ago, rev from ops nearly doubled

** YTD stock has gained 89%

($1 = 84.0440 Indian rupees)

(Reporting by Hritam Mukherjee in Bengaluru)

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** Shares of Max Estates MAXS.NS rose as much as 3% to 627 rupees before trimming gains; its biggest intraday pct gain since Sept. 20

** Real estate co revises guidance on total gross development value potential of 'Estate 360' project to 48 billion rupees ($572.97 million) from 40 billion rupees in FY25

** Estate 360 is co's first residential development project at Gurugram

** September marks MAXS's busiest month in 4 months, with about 6 mln shares traded

** Stock up 95.7% YTD

($1 = 83.7740 Indian rupees)

(Reporting by Aleef Jahan in Bengaluru)

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Sept 11 (Reuters) - Max Estates Ltd MAXS.NS:

• MAX ESTATES - MAX HOUSE - PHASE 2 ACHIEVES 100% OCCUPANCY

Source text for Eikon: [ID:]

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** Shares of National Capital Region-focussed real estate developer Max Estates MAXS.NS jump ~3% to 685 rupees

** Co's board to consider fundraise up to 1.5 bln rupees ($17.9 mln) on Aug. 31

** Larger rival DLF DLF.NS down 1% amid decline in real estate index .NIFTYREAL, which MAXS is not part of

** MAXS has risen 121% YTD vs DLF's 14% gain

** Since listing in October 2023, MAXS shares are up more than 140%

($1 = 83.9025 Indian rupees)

(Reporting by Hritam Mukherjee in Bengaluru)

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July 17 (Reuters) - Max Estates Ltd MAXS.NS:

• DIRECTORS NOT DEBARRED FROM HOLDING OFFICE BY ANY SEBI ORDER OR ANY OTHER AUTHORITY

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July 15 (Reuters) - Max Estates Ltd MAXS.NS:

• MAX ESTATES - APPROVED FUND RAISE WORTH UPTO 8 BILLION RUPEES

Source text for Eikon: [ID:]

Further company coverage: MAXS.NS

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July 10 (Reuters) - Max Estates Ltd MAXS.NS:

• TO CONSIDER RAISING FURTHER CAPITAL

Source text for Eikon: ID:nBSE9PBRhf

Further company coverage: MAXS.NS

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** Shares of real estate developer Max Estates MAXS.NS surges over 17% to hit record high, last up 11.3% at 369 rupees

** Co sees residential opportunity in Gurugram on land parcel with a gross development value of over 90 billion rupees ($1.1 billion)

** Trading vols 6.4x 30-day average

** Including day's gains, MAXS up 37.1% since listing in October last year

($1 = 83.2300 Indian rupees)

($1 = 83.2328 Indian rupees)

(Reporting by Hritam Mukherjee in Bengaluru)

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** Shares of Max Estates MAXS.NS up 4.6% to a record high of 364.4 rupees

** Co scales record high level for second straight session

** Co said it will expand its luxury residential portfolio through a JV in Gurugram; project has gross development value of 90 bln rupees ($1.08 bln)

** It has gained 22.6% so far this week, a record weekly gain since IPO debut on Oct. 27, 2023

** Stock eyes busiest ever trading session, volumes at 7.2x the 30-day avg

** Stock has gained over 23% since listing

($1 = 83.3974 Indian rupees)

(Reporting by Manvi Pant in Bengaluru)

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May 2 (Reuters) - Max Estates Ltd MAXS.NS:

• TO EXPAND LUXURY RESIDENTIAL PORTFOLIO THROUGH JOINT DEVELOPMENT AGREEMENT IN GURUGRAM

• AGREEMENT HAS GROSS DEVELOPMENT VALUE POTENTIAL OF OVER 90 BILLION RUPEES

Source text for Eikon: ID:nBSE6lf8R3

Further company coverage: MAXS.NS

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May 1 (Reuters) - Max Estates Ltd MAXS.NS:

• ANNOUNCES INVESTMENT OG 3.88 BILLION RUPEES FROM NEW YORK LIFE INSURANCE COMPANY

• MAX ESTATES TO USE PROCEEDS FOR EXPANDING IN HIGH GROWTH RESIDENTIAL MARKET

• UPON TRANSACTION’S CLOSE, NEW YORK LIFE WILL ACQUIRE 49% STAKES IN 2 SPVS OF MAX ESTATES

• MAX ESTATES WILL HOLD 51 % IN THE TWO SPVS AFTER THE TRANSACTIONS ARE CONCLUDED

Source text for Eikon: ID:nBSE3yQrFr

Further company coverage: MAXS.NS

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Feb 9 (Reuters) - Max Estates Ltd MAXS.NS:

• MAX ESTATES LTD - ELEVATED SAHIL VACHANI AS VICE CHAIRMAN AND MANAGING DIRECTOR

Source text for Eikon: [ID:]

Further company coverage: MAXS.NS

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