Max Estates: QIP Fuels Strong H1 FY26 Growth

Max Estates Limited announced a strong performance for H1 FY26, with consolidated revenue reaching Rs. 100 Crore, a 24% year-on-year growth. EBITDA stood at Rs. 24 Crore, with PBT at Rs. 29 Crore and PAT at Rs. 20 Crore. The company's total leased area reached 1.2 mn sq. ft. as of September 30, 2025, with lease rental income increasing by 39% year-on-year to Rs. 72 Crore. Max Asset Services revenue also grew by 33% to Rs. 26 Crore in H1 FY26.

The company's operational portfolio shows 100% occupancy across Max Towers, Max House, Max Square, and Max House Phase 2, demonstrating strong leasing demand. Max Estates also highlighted a significant growth pipeline, with Rs. 9,500 Cr in launches planned for H2 FY26. Total GDV sold and under implementation reached Rs. 7,535 Cr, with an additional Rs. 17,000 Cr in GDV acquired and yet to be launched.

Max Estates is expanding its footprint in Gurugram, having secured development rights for a 7.25-acre land parcel in Sector 59 with a GDV potential of over Rs. 3,000 Crore. New York Life, a strategic partner, has committed ~Rs. 1,800 Cr to Max Estates' commercial real estate business across seven rounds of investment.