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Max Estates Ltd reported a sharp rise in sales bookings during the first quarter of FY27, driven by robust demand for its residential projects across Delhi-NCR. The company achieved sales bookings of INR 1,100 crore, nearly five times higher than the corresponding period last year. The growth was supported by strong buyer response to newly launched and under-construction projects, including a new development in Gurugram. The developer also plans multiple project launches and land acquisitions during the current financial year as it looks to expand its residential portfolio.
Max Estates Ltd reported a fivefold increase in sales bookings to INR 1,100 crore during the first quarter of FY27, compared to INR 217 crore recorded in the same period of the previous financial year. The strong performance was driven by sustained demand for the company's residential projects across the Delhi-NCR market.
As part of its operational update for the April-June quarter, the company said it launched a new residential project in Gurugram during the quarter with an estimated revenue potential of INR 500 crore. The launch received encouraging demand, contributing significantly to the overall sales performance.
Max Estates Chief Financial Officer Nitin Kansal said the company had built on the momentum achieved in the previous financial year and recorded more than five times growth in sales bookings compared to the corresponding quarter of the previous fiscal. He attributed the performance to strong homebuyer response and said the sales reflected the company's growing credibility in the Delhi-NCR market, particularly in the Gurugram and Noida micro-markets.
He further stated that demand remained healthy for both newly launched projects and under-construction developments. According to Kansal, buyers continue to prefer established developers with a strong execution track record and financial strength, as timely project delivery has become a key purchasing factor in the residential market.
In FY26, Max Estates recorded residential sales bookings of INR 5,305 crore, compared with INR 5,321 crore in the previous financial year. Although annual sales remained broadly stable, the strong start to FY27 indicates continued demand despite moderation in some housing markets. Industry trends have also shown that premium and branded residential projects in Delhi-NCR continue to attract steady buyer interest, supported by rising end-user demand and limited supply in key locations.
To support future growth, Kansal said the company has a strong pipeline of residential launches planned during the current financial year. The developer is also evaluating opportunities to expand its land bank and is targeting the acquisition of two to three land parcels with a combined development potential of around 3 million sq ft of saleable area. While no land acquisitions were completed during the first quarter, discussions on multiple proposals are underway.
Max Estates, part of the Max Group, develops residential, commercial and mixed-use projects. The company currently has three completed office developments in Delhi and Noida, which generated rental income of around INR 150 crore during the previous financial year. It also has three residential projects under construction and two mixed-use developments in progress.
Overall, the company's development portfolio comprises 18.4 million sq ft of completed and under-construction projects. In FY26, Max Estates reported a net profit of INR 15.5 crore on a turnover of INR 200 crore.
Source PTI
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