Max Estates Jumps 6% as Q1 Pre-Sales Surges 5x

Max Estates shares hit a day high of Rs 444.75 on BSE on Friday, 3 July, after a huge jump in Q1 home sales for April to June.

Max Estates said its pre-sales, essentially the total value of homes booked by customers, jumped more than five times to around Rs 1,100 crore for the quarter.

That compares with a much smaller figure in the same period last year. The company also sold 487 homes across its Noida and Gurugram projects during the quarter, against just 43 homes a year earlier, a jump of more than ten times in the number of units sold.

A big chunk of this came from a new launch. Around Rs 500 crore worth of sales came from the first phase of The Terraces, an upscale housing project in Gurugram that the company says was fully sold out during the quarter.

The remaining Rs 600 crore came from ongoing sales at its existing projects. Collections, meaning money the company actually received from buyers, came in at around Rs 500 crore too.

Max Estates said this kind of steady cash flow lets it fund construction without needing to take on extra debt.

Looking ahead, the company said it has a strong pipeline of upcoming projects worth over Rs 17,200 crore in total value, spread across Noida and Gurugram, with major launches planned later this year.

It also earns steady rental income of more than Rs 150 crore a year from its office properties, which are fully leased.

Max Estates Ltd closed Friday’s session at Rs 432.45 on the BSE, up 2.79% from the previous close of Rs 420.70. The stock had opened at Rs 422.40 and touched a low of Rs 415.00 during the day.

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