MAXESTATESConsumer Discretionary

Max Estates Limited

Residential, Commercial Projects · ISIN INE03EI01018 · BSE 544008 · NSE EQ · FV ₹10
Last price
₹578
+0.96%today
What this company does

Max Estates Limited operates in Residential, Commercial Projects, part of the Consumer Discretionary sector. It booked ₹52 cr of revenue in its latest quarter (Q1 FY27) and kept 16.1% of sales as profit.

31out of 100
Equitytale Health Score
Strained

Healthier than 31% of companies in Consumer Discretionary, on the 5 of 6 measures we could read for it. Each measure is ranked against the 326–421 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
overbought
RSI (14)
74

At close. Not part of the score.

Profitability & returns37

How much profit it earns on the money it employs

Balance sheet29

How much it owes, and whether earnings cover the interest

Cash quality1

Whether reported profit actually arrives as cash · lowest in its sector on what we could measure

Valuation8

What today's price implies, against our models or its peers

Governance & risk100

How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure

Not measurable for this company: growth & consistency. Those pillars are left out of the score rather than counted as zero.

Is this company doing well?
not investment advice
Strengths
Makes a profit
Strong 16% net margin
Promoters hold 45%
No promoter shares pledged
Watch-outs
! Profit down 27% vs last year
! Low 1.4% return on equity
! Operating cash flow is negative

What if I invest in MAXESTATES?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 10% a year, it would become
₹20.15 lakh

The starting rate is a round number, not a view on this company — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹578 +0.96%
latest close · 2026-09-17
52-wk low ₹37842 sessions so far52-wk high ₹584
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio283.1High
LowAverageHigh
P/B ratio3.90High
Below bookModerateHigh
EV / EBITDA80.0High
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity1.4%Weak
WeakFairStrong ▸15%
Return on capital1.5%Weak
WeakFairStrong
Net margin16.1%Strong
ThinDecentStrong
EBITDA margin69.9%Healthy
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.75Moderate
LowModerateHigh ▸1
Interest cover1.7×Risky
RiskyOkayStrong ▸5×
Current ratio1.79Healthy
Tight ◂1HealthyAmple
More figures
Market cap
₹9,443 cr
Book value
₹148
EPS
₹0.51
latest quarter
Net debt
₹2,174 cr
owes more than its cash
Enterprise value
₹11,618 cr
EBITDA
₹145 cr
annualised
EBIT
₹112 cr
annualised
Operating margin
54.2%
Return on assets
0.3%
Earnings yield
0.35%
P/S
45.48
Sales / share
₹12.7
Tax rate
26.6%
Face value
₹10
Shares
16.3 cr
Working capital
₹3,765 cr
Current assets
₹8,528 cr
Current liabilities
₹4,763 cr
Delivery %
64.8%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.

Worth vs price · from the exchange filings
not investment advice
Hard to value confidentlyLow confidence
Too few reliable models — the filings don't support two independent estimates of value.
Models span ₹27₹27, midpoint ₹27

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹52 cr
Other Income₹28 cr
Total Income₹80 cr
Cost of Materials₹0 cr
Purchases of Stock-in-Trade₹0 cr
Employee Benefit Expense₹11 cr
Finance Costs₹17 cr
Depreciation & Amortisation₹8 cr
Other Expenses₹33 cr
Total Expenses₹69 cr
Profit before Tax₹11 cr
Tax Expense₹3 cr
Net Profit₹8 cr
Net margin on total income10.4%
Where the money goes · Q1 FY27
% of total income
Employee benefit expense₹11 cr13.8%
Finance costs₹17 cr20.9%
Depreciation & amortisation₹8 cr10.2%
Other expenses₹33 cr40.9%
Tax expense₹3 cr3.8%
Profit for the period₹8 cr10.4%
Total income ₹80 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue50 cr49 cr52 cr
Total income71 cr71 cr80 cr
Expenses70 cr77 cr69 cr
Profit before tax95.9 L-6 cr11 cr
Tax93.4 L-2 cr3 cr
Net profit (owners' share)2.5 L-4 cr8 cr
Net margin (owners' share, on revenue)0.1%-8.3%16.1%
EPS (₹)0.00-0.260.51
YoY (latest quarter): total income -0.1% · net profit -27.0%
Balance sheet & cash flow · as of Mar 2026
Moderate debt
Total assets
₹12,437 cr
Shareholder equity
₹2,420 cr
parent shareholders
Total debt
₹2,379 cr
Cash
₹205 cr
Cash flow · H1 FY26
Operating
₹-304 cr
Investing
₹-218 cr
Financing
₹504 cr
Peer comparison
Residential, Commercial Projects · by market value
CompanyPriceMarket capP/E
DLF Limited₹640₹1.58 L cr49.8
Lodha Developers Limited₹1,103₹1.10 L cr20.1
The Phoenix Mills Limited₹1,872₹66,957 cr56.4
Oberoi Realty Limited₹1,741₹63,292 cr29.1
Prestige Estates Projects Limited₹1,440₹62,025 cr65.7
Godrej Properties Limited₹1,678₹50,551 cr36.1
Anant Raj Limited₹597₹21,482 cr35.9
Brigade Enterprises Limited₹621₹20,251 cr25.3
Horizon Industrial Parks Limited₹52₹12,779 cr
Same industry · latest reported numbers · not a recommendation.
Who owns it · 2026-06-30
No pledge
Promoter
45.3%
FII / Foreign
25.9%
DII / Domestic
8.2%
Retail / others
20.7%
Promoter stake down 4.3% over the last 12 quarters.
Smart-money activity
Insider trades
SoldNitin Kumar · -7,000 · ₹39.4 L31 Dec 24
BoughtMAX VENTURES INVESTMENT HOLDINGS PRIVATE LIMITED · Promoters11.42 L · ₹75.0 cr29 Oct 24
SoldManish Bhardwaj · -5,000 · ₹30.6 L30 Sep 24
Bulk / block deals
short · NSE1,00016 Feb 26
short · NSE10127 Nov 25
short · NSE2088 Sep 25
What shareholders were asked to approve
2 proposals passed only on promoter votes

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Yearly shareholder meeting · 19 Aug 2026
See the official result
1
To receive, consider, and adopt the audited standalone financial statements of the Company for the financial year ended March 31, 2026, together with the Reports of the Board of Directors and Auditors thereon.
Backed by 100% of shareholders other than promotersneeded 50%
2.06 cr votes for, 14 against · 0% of mutual funds and other big investors said no
2
To receive, consider, and adopt the audited consolidated financial statements of the Company for the financial year ended March 31, 2026, together with the Report of the Auditors thereon.
Backed by 100% of shareholders other than promotersneeded 50%
2.06 cr votes for, 14 against · 0% of mutual funds and other big investors said no
3
To appoint Mr. Analjit Singh (DIN: 00029641), Non-Executive Director, who retires by rotation and being eligible, offers himself for re-appointment as a director.
Promoters had a personal stake in this
Backed by 74% of shareholders other than promotersneeded 50%
1.52 cr votes for, 54.58 L against · 30% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 62 named members
owning 45.3% between them · as of 2026-06-30
MAX VENTURES INVESTMENT HOLDINGS(P) LTD.21.90%
SIVA FINVEST PRIVATE LIMITED (formerly known as Siva Enterprises Private Limited)20.79%
NEELU ANALJIT SINGH2.19%
ANALJIT SINGH0.27%
RAVI VACHANI0.04%
PIYA SINGH0.03%
TARA SINGH VACHANI0.03%
ABK Consultants Private Limitedno shares

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

Money it raised, and what it did with it

When a company raises money from investors, it has to say up front what the money is for. The rules then make it report, every three months until the money is gone, how much of each of those things it has actually paid for — so a promise made while asking for the money can be checked afterwards.

₹150 cr raised in Oct 2024 by selling shares to selected investors

The company has not broken this money down into purposes in its filing for Jun 2026, so there is nothing to measure it against yet. CARE Ratings Limited watches the spending on the exchange’s behalf.

₹800 cr raised in Sep 2024 by selling shares to large investors

The company has not broken this money down into purposes in its filing for Jun 2026, so there is nothing to measure it against yet. CARE Ratings Limited watches the spending on the exchange’s behalf.

Every figure above is taken from the statement the company files with the stock exchange each quarter, for as long as money it has raised remains unspent. The only thing we work out is how much of each stated purpose has been paid for — one number divided by another from the same filing. Whether a plan that changed was a good change is not something a filing can tell you. See the filing

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.