Max Estates FY26 pre-sales dip slightly despite strong Q4 demand

Developer reports marginal dip in annual pre-sales, but Q4 bookings surge on new launches, with strong pipeline and steady collections supporting growth outlook

Realty firm Max Estates on Monday 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 stated that its pre-sales bookings boosted in the January–March quarter (Q4) of FY26, with the quarter accounting for Rs 3,392 crore of the total volume. This comes after Max Estates saw interest in its new launches announced since December last year.

 

In December 2025, the company launched Estate 361 in Sector 36A, Gurugram, which reported Rs 1,704 crore in pre-sales. The company also saw interest in two of its Noida-based projects launched last month.

 

 

While Estate 105 in Noida has reported Rs 1,783 crore in pre-sales, its Max One project in Sector 16B has also recorded Rs 1,415 crore in pre-sales.

 

The latter 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 after 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 said in a regulatory filing to the bourses.

 

The company also reported collections worth Rs 1,578 crore in FY26, while not giving 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.

 

Approaching FY27, Sahil Vachani, vice chairman and managing director of Max Estates, said that the firm has high visibility on growth with a total gross development value (GDV) pipeline worth Rs 16,000 crore, while maintaining a strong balance sheet with net debt of Rs 174 crore as on date.

 

The company added that it aims to add 2 million square feet (msf) in the residential segment, and another 1 msf in the commercial sector every year.

 

“Commercial portfolio continues to be 100 per cent leased with over Rs 150 crore as annual rental, with the overall commercial portfolio 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.