Is Max Estates Ltd (MAXESTATES) a good quality company?

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Max Estates Ltd is a below average quality company .

Is Max Estates Ltd (MAXESTATES) undervalued or overvalued?

The key valuation ratios of Max Estates Ltd's currently when compared to its past seem to suggest it is in the Undervalued zone .

What is Max Estates Ltd (MAXESTATES) share price return in the past 10 years?

Data is not available for this company

Is Max Estates Ltd (MAXESTATES) a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Max Estates Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

What is the share price of Max Estates Ltd (MAXESTATES)?

Company share prices are keep on changing according to the market conditions. The current trading price of Max Estates Ltd (MAXESTATES) on 07-May-2026 16:59:59 at 16:59 is 419.00.

What is the P/E ratio of Max Estates?

The latest standalone P/E ratio of Max Estates as of 07-May-2026 is 95.31.

What is the P/B ratio of Max Estates Ltd (MAXESTATES)?

The latest standalone P/B ratio of Max Estates Ltd (MAXESTATES) as of 07-May-2026 is 2.67.

What is the 52-week high and low of Max Estates Ltd (MAXESTATES)?

The 52-week high of Max Estates Ltd (MAXESTATES) is Rs. 563.70 and the 52-week low is Rs. 305.55.

Max Estates Ltd (MAXESTATES) Share Analysis – Order Book, Quality & Valuation Zone & DeciZen Rating

Name: Max Estates Ltd (MAXESTATES)
Brand: Max Estates

Max Estates Ltd (MAXESTATES) Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating

Max Estates Ltd (MAXESTATES)

BSE: 544008 NSE: MAXESTATES

Key Metrics

Market Cap

₹6,748 Cr.

P/E Ratio

95.31

Price to Book (P/B)

2.67

Price to Sales (P/S)

129.57

EV/EBITDA

59.09

Return on Capital Employed (ROCE)

18.35%

Current Price

₹419

Return on Equity (ROE)

15.72%

Return on Assets (ROA)

13.98%

Operating Profit Margin

-27.1%

Net Profit Margin

683.48%

Gross Profit Margin

841.8%

Book Value per Share

₹154.9

Sales Growth (YoY)

39.94%

Sales Growth (3 Years)

NA%

Operating Profit Growth (1 Year)

NA%

Operating Profit Growth (3 Years)

N/A%

Net Profit Growth (1 Year)

1104.55%

52-Week Low / High

₹306 / 564

Net Profit Growth (3 Years)

N/A%

Dividend Yield

0.00%

Promoter Holding

45.27%

Pledged shares (%)
of Promoter's holding (%)

0.00%

Check Before You Invest

Q.1 Stock return of Max Estates Ltd over the last decade?

Over the last 1 year(s), the stock has delivered a CAGR of 9.14% based on the current price.

Q.1 Which industry/sub-sector does Max Estates Ltd belong to?

Max Estates Ltd belongs to the Construction & Infrastructure sector, operating specifically within the Construction - Real Estate segment.

Q.1 Return on capital employed (ROCE) of Max Estates Ltd?

Max Estates Ltd Return on capital employed is 18.35% for FY-2025, which is above its 3-year historical median of 3.18%. The current ROCE is above its estimated weighted average cost of capital (WACC) of 13.5%, indicating value creation.

Q.1 Promoter shareholding and pledge status of Max Estates Ltd?

Promoters hold 45.27% of the Max Estates Ltd, with 0.00% of their stake pledged, indicating no pledge risk.

Q.1 Revenue growth of Max Estates Ltd vs industry peers?

Max Estates Ltd revenue CAGR is 0.00%, compared to the industry median CAGR of 11.13%, indicating slower growth and losing its market share.

DeciZen - make an informed investing decision on Max Estates

Based on:

Data

Overall Rating ⓘ
Login to view analysis.

1. Quality

2. Valuation ⓘ

3. Price Trend

Max Estates stock performance

Key Ratios

Is Max Estates Ltd an attractive stock to invest in?

10 Year X-Ray : Login to view analysis.

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Value Creation ⓘ

Value Creation Index Colour Code Guide ⓘ

	Mar'23	Mar'24	Mar'25	TTM
ROCE % ⓘ	3.2%	2.3%	18.4%	-
Value Creation Index ⓘ	-0.8	-0.8	0.4	-
Growth Parameters ⓘ Growth Parameters Colour Code Guide ⓘ
Sales ⓘ	49.3	29.4	41.1	52
Sales YoY Gr.	-	-40.4%	39.9%	-
Adj EPS ⓘ	0	1.6	5.5	4.3
YoY Gr.	-	NA	247.5%	-
BVPS (₹) ⓘ	0	85.3	144.1	154.9
Adj Net Profit ⓘ	25.2	23.2	88.3	71
Cash Flow from Ops. ⓘ	-19.8	-36.3	-48.7	-
Debt/CF from Ops. ⓘ	-8.5	-4.4	-0.2	-

CAGR ⓘ

CAGR Colour Code Guide ⓘ

	9 Years	5 Years	3 Years	1 Years
Sales ⓘ	NA	NA	NA	39.9%
Adj EPS ⓘ	NA	NA	NA	247.5%
BVPSⓘ	NA	NA	NA	68.9%
Share Price	-	-	-	9.1%

Key Financial Parameters ⓘ

Performance Ratio Colour Code Guide ⓘ

	Mar'23	Mar'24	Mar'25	TTM
Return on Equity % ⓘ	2	1.9	4.9	2.9
Op. Profit Mgn % ⓘ	0.4	-33.8	-27.1	-27.8
Net Profit Mgn % ⓘ	51.1	79.1	214.9	135.9
Debt to Equity ⓘ	0.2	0.1	0	-
Working Cap Days ⓘ	0	3,505	4,117	4,150
Cash Conv. Cycle ⓘ	0	10	105	3,867

Recent Performance Summary

Latest Financials

	Standalone	Consolidated
TTM EPS (₹)	4.3	2.2
TTM Sales (₹ Cr.)	52.1	190
BVPS (₹) ⓘ	154.9	147.6
Reserves (₹ Cr.) ⓘ	2,368	2,249
P/BV ⓘ	2.67	2.80
PE ⓘ	95.31	187.03

From the Market
52 Week Low / High (₹)	305.55 / 563.70
All Time Low / High (₹)	242.80 / 724.45
Market Cap (₹ Cr.)	6,748
Equity (₹ Cr.)	163.5
Face Value (₹)	10
Industry PE ⓘ	48.8

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged ^*

0.00

* Pledged shares as % of Promoter's holding (%)

Valuation of Max Estates - Standalone Basis

YTD 1Y 3Y 5Y 10Y Max

Analyst's Notes

No data found!

Key Ratios

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)

PARTICULARS	Mar'23	Mar'24	Mar'25
Sales	49	29	41
Operating Expenses ⓘ +	49	39	52
Manufacturing Costs	2	6	9
Material Costs	11	0	2
Employee Cost	18	16	22
Other Costs ⓘ	18	17	19
Operating Profit ⓘ	0	-10	-11
Operating Profit Margin (%)	0.4%	-34.0%	-27.1%
Other Income ⓘ +	50	47	366
Exceptional Items ⓘ	0	0	0
Interest ⓘ	11	14	9
Depreciation ⓘ	5	5	7
Profit Before Tax ⓘ	33	18	339
Tax ⓘ	1	-6	58
Profit After Tax	33	23	281
PAT Margin (%)	66.5%	79.4%	683.5%
Adjusted EPS (₹)	0.0	1.6	17.5
Dividend Payout Ratio (%)	0%	0%	0%

Balance Sheet

(All Figures are in Crores.)

PARTICULARS	Mar'23	Mar'24	Mar'25
Equity and Liabilities
Shareholders Fund +	1,084	1,255	2,319
Share Capital ⓘ	0	147	161
Reserves ⓘ	1,084	1,108	2,158
Debt +	163	154	11
Long Term Debt	97	92	0
Short Term Debt	65	62	11
Minority Interest	0	0	0
Trade Payables	10	4	7
Others Liabilities ⓘ	212	117	154
Total Liabilities ⓘ	1,469	1,529	2,490
Fixed Assets
Net Fixed Assets ⓘ +	22	20	16
Gross Block	24	26	27
Accumulated Depreciation	2	6	12
CWIP ⓘ	0	0	0
Investments ⓘ	1,109	1,151	1,490
Inventories	2	2	0
Trade Receivables	4	11	21
Cash Equivalents	15	19	327
Others Assets ⓘ	316	326	636
Total Assets ⓘ	1,469	1,529	2,490

Cash Flow

(All Figures are in Crores.)

PARTICULARS	Mar'23	Mar'24	Mar'25
Cash Flow From Operating Activity ⓘ +	-20	-36	-49
PBT ⓘ	33	18	339
Adjustment ⓘ	-31	-27	-347
Changes in Working Capital ⓘ	1	-22	1
Tax Paid ⓘ	-22	-5	-42
Cash Flow From Investing Activity ⓘ +	-106	60	-606
Capex	-4	-2	124
Net Investments	453	-5	-1,394
Others ⓘ	-556	67	664
Cash Flow From Financing Activity ⓘ	125	-24	654
Net Proceeds from Shares ⓘ +	0	1	801
Net Proceeds from Borrowing ⓘ	0	-8	-98
Interest Paid ⓘ	-10	-9	-4
Dividend Paid ⓘ	0	0	0
Others ⓘ	135	-7	-44
Net Cash Flow ⓘ	-1	-0	-1

Finance Ratio

PARTICULARS	Mar'23	Mar'24	Mar'25
Ratios
ROE (%)	3.02	1.99	15.72
ROCE (%)	3.18	2.25	18.35
Asset Turnover Ratio	0.03	0.02	0.02
PAT to CFO Conversion(x)	-0.61	-1.57	-0.17
Working Capital Days
Receivable Days	29.20	93	142.50
Inventory Days	14.50	24.20	0
Payable Days	313.20	0	1,049.50

Top 5 Mutual Funds Holding

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Announcements

Max Estates Ltd FAQs

The current trading price of Max Estates on 07-May-2026 16:59 is ₹419.0.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 06-May-2026 the market cap of Max Estates stood at ₹6,748.1 Cr

The latest P/E ratio of Max Estates as of 06-May-2026 is 95.31.

The latest P/B ratio of Max Estates as of 06-May-2026 is 2.67.

The 52-week high of Max Estates is ₹563.7 and the 52-week low is ₹305.6.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Max Estates is ₹52.08 ( Cr.) .

About Max Estates Ltd

Max Estates is the real estate development arm of Max Group. Established in 2016, Max Estates aspires to build sustainable, grade ‘A’ developments in Delhi-NCR, with a focus on well-being. As progressive developers, Max Estates believes in breaking away from the conventional processes, and bring agility into how it builds. Every day, its endeavour is to consciously create a unique confluence of spaces that enable collaboration, innovation, community, and bring in the true essence of well-being to everyday life.

The company’s current and planned developments are diversified across various asset classes, key strategic locations across Delhi-NCR. Max Estates, in its pursuit of emerging as the most preferred brand in real estate in the NCR, is driven by the desire to enhance well-being through its exceptional experiences across the residential and commercial segment.

The company’s developments personify its well-being orientation and bring its philosophies to life. Guided by its philosophies of WorkWell and LiveWell, it aspires to create differentiated working and living experiences, in the commercial and residential segments, respectively. It ensures this by moving beyond the conventional separation of work, life, and well-being by paying attention to the entire spectrum of wellness across physical, emotional, social, and environmental aspects.

Business area of the company

The Company is mainly engaged in the business of Construction of Buildings carried out on own account basis or on a fee or contract basis i.e. real estate development and letting, sub-letting, leasing, selling and distribution of residential or commercial complex, house, building etc.

Awards

2019

ET Now Stars of the Industry Awards for Ultra Luxury Project of the Year
DNA Real Estate & Infrastructure Awards for Luxury Project of the Year
Realty + Conclave and Excellence Awards for Most Environment Friendly Space
Realty+ excellence awards North 2019 for 222 Rajpur Villa project of the Year

2020

ET Now RE Awards 2020 for Developer of the year
Realty Conclave Excellence Awards 2020 for Design project of the year
RE/Max India Estate Awards 2020 for Most Sustainable Architecture Design
Realty Conclave Excellence Awards 2020 for Commercial project of the year

2021

ET 3rd Kaleido Awards 2021 for Best Campaign
Global Real Estate Congress Award 2021 for Emerging developer of the year

2022

ESG India Leadership Awards 2022 for Leadership in Equal Opportunities
Economic Times Real Estate Awards 2022 for Commercial Project of the year - Office Building
Economic Times Real Estate Awards 2022 for Emerging Developer of the year
Indian Buildings Congress Award 2022 for Excellence in Built Environment
Annual Estate Awards for Environment Friendly Project of the Year - Commercial (North)
Annual Estate Awards for Emerging Developer of the Year - Commercial (North)

2023

14th Annual Estate Awards 2023 for Smart Project of the Year
CNBC Aawaz’s 14th Real Estate Awards & Conclave 2023 (North Zone) for Best Commercial Project

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Max Estates Ltd (MAXESTATES) Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating

Max Estates Share Price