Max Estates Reports Slight Dip in FY26 Pre-Sales Despite Strong Q4 Demand
Realty firm Max Estates has reported a pre-sales figure of Rs 5,305 crore for the financial year 2025-26 (FY26), a slight dip from the Rs 5,321 crore recorded for FY25.
The developer noted a significant boost in pre-sales bookings in the January–March quarter (Q4) of FY26, with the quarter accounting for Rs 3,392 crore of the total volume. This surge in interest follows the launch of new projects since December 2025.
In December 2025, Max Estates launched Estate 361 in Sector 36A, Gurugram, which reported Rs 1,704 crore in pre-sales. The company also saw strong interest in two of its Noida-based projects launched last month. Estate 105 in Noida has reported Rs 1,783 crore in pre-sales, while the Max One project in Sector 16B has recorded Rs 1,415 crore in pre-sales.
The Max One project was launched with RERA approval in March 2026, a year after Max Estates acquired its original company, Boulevard Projects Private Limited (BPPL), in April 2025, following approval by the National Company Law Tribunal (NCLT).
“Maintaining a run rate of over Rs 5,000 crore for two consecutive years, particularly in a volatile macro environment, solidifies Max Estates’s reputation as a high-growth player in the Indian real estate landscape,” the firm stated in a regulatory filing to the bourses.
The company also reported collections worth Rs 1,578 crore in FY26, though it did not provide comparative figures for the previous year. “Across all our projects, annual collections typically range between 20–25 per cent of the sales value and project cost, enabling the company to undertake construction without incurring any incremental debt for our residential projects,” Max Estates added.
Looking ahead to FY27, Sahil Vachani, vice chairman and managing director of Max Estates, expressed confidence in the firm's growth prospects. The company has a total gross development value (GDV) pipeline worth Rs 16,000 crore and maintains a strong balance sheet with net debt of Rs 174 crore as of the latest figures.
Max Estates aims to add 2 million square feet (msf) in the residential segment and another 1 msf in the commercial sector annually. “Our commercial portfolio continues to be 100 per cent leased with over Rs 150 crore as annual rental income. The overall commercial portfolio is poised for an annuity rental income potential of over Rs 700 crore on a 100 per cent basis in the next five years,” the company said.
