Max Estates Limited (MAXESTATES) AI Stock Analysis

• Market Cap: ₹68.07B
• Dividend Yield: N/A
• Average Volume (3M): 7.42K
• Price to Earnings (P/E): 121.1
• Beta (1Y): 1.51
• Revenue Growth: 79.32%
• EPS Growth: N/A
• Country: IN
• Employees: 140
• Sector: Real Estate
• Sector Strength: 53
• Industry: Real Estate - Development
• EPS (TTM): 0.70
• Shares Outstanding: 162,231,890
• 10 Day Avg. Volume: 7,341
• 30 Day Avg. Volume: 7,424
• PEG Ratio: -1.34
• Price to Book (P/B): 4.10
• Price to Sales (P/S): 37.39
• P/FCF Ratio: -20.65
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 51 Neutral
• Price Target: ₹469.00 ▲(3.61% Upside)

Max Estates Limited's stock score is primarily influenced by its financial performance and technical analysis. While the company shows strong revenue growth and profitability, operational volatility and high liabilities are concerns. The technical indicators suggest neutral momentum, and the high P/E ratio indicates potential overvaluation. The absence of earnings call data and corporate events limits further insights.

Positive Factors

Revenue Growth

Strong revenue growth indicates successful market penetration and product demand, supporting long-term business expansion and stability.

Profitability Improvements

Improved profitability reflects better cost management and operational efficiency, enhancing financial resilience and shareholder value.

Gross Profit Margin

A robust gross profit margin suggests strong pricing power and cost control, contributing to sustained profitability and competitive advantage.

Negative Factors

Negative Free Cash Flow

Negative free cash flow indicates high capital expenditures, which may strain liquidity and limit future investment opportunities.

High Liabilities

High liabilities can pose solvency risks, potentially impacting financial stability and limiting strategic flexibility in the long term.

Operational Volatility

Operational volatility can affect predictability of earnings and cash flows, posing challenges for consistent financial performance.

Max Estates Limited Business Overview & Revenue Model

Company Description

Max Estates Limited construction and develops residential and commercial properties. It also offers investment, facility management, managed office, and shared services. In addition, it leases office spaces. The company was incorporated in 2016 and is based in Noida, India.

How the Company Makes Money

MAXESTATES generates revenue through several key channels: the sale of developed properties, leasing of commercial and residential spaces, and property management services. The company typically engages in the acquisition of land, followed by the development of residential and commercial projects, which are then sold to end users or investors. Additionally, MAXESTATES earns recurring income through long-term leases on its commercial properties. Significant partnerships with local contractors, architects, and urban planners enhance the company's efficiency and market reach, further bolstering its revenue streams.

Max Estates Limited Financial Statement Overview

Summary

Max Estates Limited shows strong revenue growth and profitability improvements, with a robust gross profit margin. However, operational volatility and negative free cash flow highlight areas for improvement. The balance sheet is balanced but high liabilities pose potential solvency risks.

Income Statement

Max Estates Limited showed strong revenue growth with a significant increase in total revenue from the previous year. Gross profit margin remains robust at 98.18%, indicating efficient cost management. The company also turned profitable, with a positive net profit margin of 16.34%, a substantial improvement over the previous year's losses. However, fluctuations in EBIT and EBITDA margins suggest some underlying volatility in operational efficiency.

Balance Sheet

The company maintains a moderate debt-to-equity ratio of 0.73, which indicates a balanced capital structure. The equity ratio stands at 31.45%, showing a reasonable level of financial stability. Return on Equity improved to 1.79%, highlighting increasing shareholder value. However, high total liabilities compared to total assets indicate potential solvency risks.

Cash Flow

Operating cash flow remained positive, but free cash flow was negative, pointing to significant capital expenditures. The operating cash flow to net income ratio of 5.51 signifies a strong cash conversion, but negative free cash flow growth poses concerns for future liquidity and investment capacity.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	2.53B	2.50B	929.44M	1.07B	734.82M	664.30M
Gross Profit	2.47B	2.45B	492.83M	797.28M	532.30M	358.26M
EBITDA	1.53B	1.34B	182.72M	543.08M	347.90M	10.08M
Net Income	506.86M	408.10M	-421.63M	190.15M	49.99M	-940.34M
Balance Sheet
Total Assets	0.00	72.46B	31.01B	22.27B	10.25B	18.95B
Cash, Cash Equivalents and Short-Term Investments	16.65B	16.65B	3.50B	1.47B	611.29M	893.82M
Total Debt	0.00	16.56B	9.62B	8.62B	3.15B	5.43B
Total Liabilities	-26.61B	45.85B	16.51B	9.73B	3.82B	894.01M
Stockholders Equity	26.61B	22.78B	11.71B	12.11B	6.09B	18.95B
Cash Flow
Free Cash Flow	989.91M	-4.52B	-1.02B	-10.09B	-1.09B	-346.03M
Operating Cash Flow	1.43B	2.25B	2.18B	-4.87B	195.68M	922.19M
Investing Cash Flow	-10.71B	-19.93B	-1.45B	-521.44M	-1.21B	-485.86M
Financing Cash Flow	11.22B	17.66B	1.40B	5.21B	779.83M	-457.60M

Max Estates Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 452.65
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:MAXESTATES, the sentiment is Negative. The current price of 452.65 is above the 20-day moving average (MA) of 447.73, below the 50-day MA of 460.30, and below the 200-day MA of 462.63, indicating a bearish trend. The MACD of -7.34 indicates Positive momentum. The RSI at 31.16 is Neutral, neither overbought nor oversold. The STOCH value of 12.03 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:MAXESTATES.

Max Estates Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SUNTECK	69 Neutral	₹61.72B	35.20	―	0.36%	-14.25%	17.95%
GANESHHOUC	68 Neutral	₹63.13B	11.98	―	0.63%	-8.37%	8.49%
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
MAHLIFE	56 Neutral	₹80.89B	45.39	―	0.70%	-22.59%	17.35%
RUSTOMJEE	53 Neutral	₹64.36B	62.43	―	0.28%	-20.38%	-36.03%
MAXESTATES	51 Neutral	₹68.07B	121.07	―	―	79.32%	―
PURVA	40 Underperform	₹55.16B	-19.17	―	―	-23.33%	-512.89%

Max Estates Limited Corporate Events

Max Estates Faces INR 2.15 Crore GST Demand, Plans to Appeal

Max Estates Limited has disclosed that it has received an order from the Office of the Deputy Commissioner, State Tax Department, Uttar Pradesh (Noida), under Section 73(9) of the Uttar Pradesh GST and Central GST Acts, demanding goods and services tax, interest and penalty for various matters pertaining to FY 2021-22. The order raises a total tax and penalty demand of about INR 2.15 crore, which the company states does not have a material impact on its financial position, operations or other activities, and Max Estates plans to challenge the order by pursuing legal remedies, including an appeal before the relevant authorities.

Max Estates Gets ₹2.22 Crore GST Demand Dropped, Says No Material Impact

Max Estates Limited has announced that the Assistant Commissioner, Central GST, Division-I, Noida, has passed an order dropping a proposed goods and services tax demand of ₹2.22 crore, along with the associated interest and penalties, that arose from an earlier show cause notice questioning the company’s input tax credit claims on certain services. The company stated that the order, received on December 30, 2025, results in no material impact on its financial or operational activities, removing a potential tax contingency and providing greater clarity for stakeholders on its indirect tax exposure without altering its current business trajectory.

Max Estates Limited Announces Grant of Stock Options to Employees

Max Estates Limited has announced the grant of 10,04,512 stock options under its Employee Stock Option Plan 2023, approved by the Nomination and Remuneration Committee. This move is expected to incentivize employees and align their interests with the company’s growth objectives, potentially enhancing operational performance and stakeholder value.

Max Estates Unveils Estate 361: A New Standard in Forest-Living Residences

Max Estates Limited has launched Estate 361, a unique ‘forest anchored’ residential community in Gurugram’s Sector 36A, embodying the company’s LiveWell philosophy. This development, spread over 18.23 acres, integrates over 2,50,000 sq. ft. of forest greens and offers a variety of amenities, including a clubhouse, senior living residences, and a wellness center, promoting a holistic lifestyle. Estate 361 is strategically located in a rapidly developing area with excellent connectivity, enhancing its appeal to potential residents and stakeholders.

Max Estates Unveils Investor Presentation Post-Earnings Call

Max Estates Limited has released an investor presentation in line with SEBI regulations, following their recent earnings conference call announcement. This presentation, now available on the company’s website, provides stakeholders with insights into the company’s performance and strategic direction, potentially impacting its market positioning and investor relations.

Max Estates Achieves Global Recognition with Dual 5-Star GRESB Rating

Max Estates Limited has achieved a significant milestone by earning a Dual 5-Star Rating in the 2025 Global Real Estate Sustainability Benchmark (GRESB), with a perfect score of 100 in the Development category and 92 in Standing Investments. This accomplishment ranks Max Estates as the No. 1 entity globally in these categories, placing it among the top 20 percent of real estate entities worldwide for ESG practices. The recognition underscores Max Estates’ dedication to creating sustainable and vibrant communities, enhancing its reputation and stakeholder trust.