Max Estates shares jump up to 6% after Q1 pre-sales jump 5x to ₹1,100 crore
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Shares of Max Estates gained up to 6% on Friday after the real estate developer reported a more than five-fold jump in pre-sales for the first quarter of FY27, driven by strong demand for newly launched projects and sustained momentum across its existing portfolio.
The realty stock climbed as much as 5.7% during the day to hit an intraday high of ₹444.75 on the BSE. Paring most of its early gains, Max Estates shares closed at ₹425.10, up 1.05%, with a market capitalisation of ₹6,950 crore.
The NCR-focused real estate developer reported pre-sales of around ₹1,100 crore in Q1 FY27, more than five times the level recorded in the corresponding quarter last year, aided by the successful launch of phase 1 of The Terraces and healthy sustenance sales. The Terraces is an ultra-premium residential development in Sector 36A, Gurugram, located off the Dwarka Expressway.
The company sold 487 residential units across its projects in Noida and Gurugram during the quarter, compared with 43 units a year earlier, registering more than a ten-fold increase in sales volumes.
Of the total pre-sales, around ₹500 crore came from the newly launched Phase 1 of The Terraces, while existing projects contributed nearly ₹600 crore through sustenance sales.
Max Estates also achieved collections of around ₹500 crore in Q1 FY27. "Across all our projects, annual collections typically range between 20-25% of the sales value, enabling the company to undertake construction without incurring any incremental debt for our residential projects," the company said.
Enters FY27 with ₹17,200 crore GDV pipeline
Looking ahead, Max Estates said it has a gross development value (GDV) pipeline of more than ₹17,200 crore, comprising projects including Estate 105, Max One, Estate 361 and a residential development in Sector 59, Gurugram. The company plans major launches in Noida and Gurugram during the second and third quarters of FY27.
"The company entered FY27 with high visibility on growth, with a total GDV pipeline of over ₹17,200 crore set to fuel growth from FY27 onwards," it said.
The developer also reiterated its target of adding around 2 million sq. ft. of residential development annually.
On the commercial real estate front, Max Estates said its operational portfolio remains fully leased and generates annual rental income of more than ₹150 crore. Including completed, under-construction and acquisition assets, the company expects its commercial portfolio to have the potential to generate annual annuity rental income of over ₹700 crore over the next five years.
The company also reiterated its long-term plan to add around 2 million sq. ft. of residential development and 1 million sq. ft. of commercial space every year.
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