Slide 1: Exchange filing cover letter for Investor Presentation
August 8, 2025 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza, Bandra Kurla Complex Dalal Street Bandra (East) Mumbai – 400 001 Mumbai – 400 051 Scrip Code: 544008 SYMBOL: MAXESTATES Sub.: Investor Presentation Dear Sir/ Madam, Pursuant to Regulation 30
Slide 2: Investor Presentation: An overview of Max Estates' journey
Investor Presentation An overview of Max Estates’ journey August 2025
Slide 3: Key highlights
Key highlights 1. Residential Sales and CRE leasing 3. Business Development • Total GDV sold and project under implementation – Rs. • Total GDV acquired and yet to be launched – Rs. 14,000 Cr 7,379 Cr • GDV to be acquired to achieve Rs. 21,000 Cr in next 3 years – Rs. • Rs. 9,500 Cr launches planned
Slide 4: Guidance vs actual
Guidance vs actual FY 24 FY 24 Achievement Achievement over Particulars FY 25 Guidance FY 25 Actuals FY 26 Guidance Guidance Actuals over Guidance Guidance 4,000 Pre sales (Rs. Cr) 1,300 1,844 140% Revised to 5,321 140% 6,000-6500 4,800-5,200 4,000 Launches 1,300 1,844 140% Revised to 5,723 140% 9,5
Slide 5: Pre sales booking value and annuity rental income trajectory
Pre sales booking value and annuity rental income trajectory Estimates Residential – pre-sales / booking value (Rs. Cr) Commercial –annuity portfolio (100%2) (Rs. Cr) Already acquired Rental - 723 To be acquired Under construction 14,500-15,000 Completed Sector 105- 140 Delhi One – 120 7,000 Max 65
Slide 6: Consolidated synopsis of residential pre-sales booking value and collection
Consolidated synopsis of residential pre-sales booking value and collection Status upto June 2025 Particulars Mn Sqft GDV Rs. Cr Launched 3.80 7,589 Sold till Jun 25 3.79 7,379 Sold in Q1 FY 26 0.01 217 Collections (Rs. Cr) Project wise details (Rs. Cr) Particulars Total Estate 128 Particulars Estat
Slide 7: Content
1 About Max Estates Content 2 Project wise updates 3 Growth outlook 4 Execution enablers 5 Q1 FY 26 financials Experience WorkWell & LiveWell at 6 Max Estates www.maxestates.in 5
Slide 8: About Max Estates
1 About Max Estates 2 Project wise update 3 Growth outlook 4 Execution enablers 5 Q1 FY 26 financials Experience WorkWell & LiveWell at 6 Max Estates www.maxestates.in 6
Slide 9: Max Estates' purpose, values and operating philosophy
About Max Max Estates’ Purpose is anchored on core values of Max Estates Group and operating philosophy of LiveWell and WorkWell Our Purpose Our Values Enhance quality of life through the spaces we create Sevabhav Excellence Credibility Our Operating Philosophy – WorkWell and LiveWell Empathetic Hos
Slide 10: Our product-market segments: one region multiple asset class
About Max Our Product- market segments : One region multiple asset class Estates Residential Projects LiveWell Experiences LiveWell envisions to enhances and enriches the quality of life of its occupiers by building a confluence of spaces that enables comfort, healthy living, and community experienc
Slide 11: An Overview Of Max Estates' Portfolio
An Overview Of Max Estates’ Portfolio Geographical Mix Max Towers, Noida Delhi One, - Commercial 2% Mixed Use, Noida Size : 0.6 Mn sq ft Size : 2.5 Mn sq ft Delhi 47% Gurgaon 51% Sector 105, Mixed Use Noida Size: ~2.6 Mn sq ft Max House-Phase 1, Delhi - Commercial Size : 0.1 Mn sq ft Max House-Phase
Slide 12: Project wise update
1 About Max Estates 2 Project wise update 3 Growth outlook 4 Execution enablers 5 Q1 FY 26 financials Experience WorkWell & LiveWell at 6 Max Estates www.maxestates.in 10
Slide 13: Commercial projects in operation
About Commercial projects in operation Max Estates Max Towers, Sector 16B, Noida Max House – I, Okhla, Delhi • Total leasable area 358,234 sqft • Total leasable area 108,692 sqft • Weighted average rental: ~Rs. 126 per sq. • Weighted average rental: ~Rs. 143 per sq. ft. ft. per month per month • WAL
Slide 14: Commercial projects in operation
About Commercial projects in operation Max Estates Max Square, Sector 129, Noida Max House – II, Okhla, Delhi • Total leasable area 680,649 sqft • Total leasable area 151,178 sqft • Weighted average rental: ~Rs. 76 per sq. ft. • Weighted average rental: ~Rs. 160 per sq. ft. per per month month • WAL
Slide 15: Commercial projects under Design and Development
About Commercial projects under Design and Development Max Estates Representative image Representative image Artistic Rendition Representative image Max Square Two, Sector 129, Noida Max 65, Sector 65, Gurugram ~4 ~0.9 ~0.2 7.15 ~1.6 ~200+ Acre land parcel Mn sq. ft. of office Mn sq ft of retail Acr
Slide 16: Construction update
About Construction update Max Estates Max Square Two, Noida As on 24th July 2025 – Basement 1 works in progress in Tower B, Basement-3 works in progress for Tower A Max 65, Gurugram As on 27th July 2025 – Basement works in progress for Tower CDEF and Tower AB 14
Slide 17: New York Life – our strategic partner in commercial real estate
About Max New York Life – Our strategic partner in the commercial real Estates estate business Founded in 1845, New York Life is a Financial Since 2001, partnered with Max group to form Max New York Services Company and the largest mutual life Life Insurance Company Limited with 26% ownership, which
Slide 18: Residential projects - launched
About Residential projects - launched Max Estates Representative image Representative image Representative image Estate 128, Sector 128, Noida (Phase 1 and Phase 2) Estate 360, Sector 36A, Gurugram 10 ~1.40 268 11.80 ~2.40 864 Acre land parcel Mn sq. ft. of Total number of Acre land parcel Mn sq. ft
Slide 19: Construction update
About Max Construction update Estates Estate 128, Noida Tower 1 - As on 24th July 2025 – Tower 2 - As on 24th July 2025 – Tower 3 - As on 24th July 2025 – Tower 4 - As on 24th July 2025 - The piling Nineteenth floor slab is being Nineteenth floor slab is being Twentieth floor slab is being work has
Slide 20: Projects to be launched in FY26
About Max Estates Projects to be launched in FY26 Representative image Representative image Representative image New Opportunity (Gurugram) Delhi One (Sector 16B, Noida) New Acquisition (Sector 105, Noida) Artistic Development Rendition Potential ~4.0 mn. sq. ft. ~2.5 mn. sq. ft. ~2.6 mn. sq. ft. De
Slide 21: Growth outlook
1 About Max Estates 2 Project wise update 3 Growth outlook 4 Execution enablers 5 Q1 FY 26 financials Experience WorkWell & LiveWell at 6 Max Estates www.maxestates.in 19
Slide 22: Indicative Growth Pipeline in the near term
Indicative Growth Pipeline in the near term Residential / SBUA Project Location Type Stage Commercial (sq. ft.) Gurgaon Residential 1.3 Mn Outright Definitive documentation Delhi Residential 0.08 Mn Outright Commercial negotiation Noida Residential 3 Mn JDA Commercial negotiation Gurgaon Residential
Slide 23: Execution enablers
1 About Max Estates 2 Project wise update 3 Growth outlook 4 Execution enablers 5 Q1 FY 26 financials Experience WorkWell & LiveWell at 6 Max Estates www.maxestates.in 21
Slide 24: Key execution enablers
Execution Enablers Key execution enablers Talent depth Strong Brand Equity and diversity Customer Experience Institutionalization centricity of Processes Sustainability and Technology ESG focus enabled execution 22
Slide 25: Board of Directors – Max Estates
Talent depth and diversity Execution Enablers Board of Directors – Max Estates Anthony R. Malloy Atul B. Lall Non-Executive Director Non-Executive Director Analjit Singh • Executive Vice President and Chief • Managing Director and Vice Chairman of Investment Officer of New York Life Dixon Technologi
Slide 26: Board of Directors – Max Estates
Talent depth and diversity Execution Enablers Board of Directors – Max Estates Malini Thadani Gauri Padmanabhan Independent Director Independent Director • 41+ years experience as Former Indian • Ex-Global partner, leading Consumer Revenue Service officer and Head of Market Practices for Heidrick &
Slide 27: Experienced Management team
Talent depth and diversity Execution Experienced Management team … with mix of real and non Enablers real estate background Vachan Singh K S Ramsinghaney COO – Projects Max Estates Senior Advisor - Max Estates • Ex-COO & Business Head, Adani Realty; Ex- • Over 45 years of experience; 9 yrs. with Max
Slide 28: Scaling with Skill. Leading with Inclusion.
Talent depth and diversity Scaling with Skill. Leading with Inclusion. At Max Estates, growth isn’t just about expanding our footprint — it’s about building a diverse, future-ready team that embodies our values and drives our ambition forward, because true growth includes everyone... Employee Head C
Slide 29: Institutionalizing internal processes to enable seamless execution at scale
Institutionalization of Processes Execution Institutionalizing internal processes to enable seamless Enablers execution at scale 13 Verticals identified as follows Sales Planning CRM Safety Construction Marketing Quality RERA Management Design Finance & Asset HR & Payroll Management Accounts managem
Slide 30: Suite of digital interventions across value chain in progress
Technology enabled execution Execution Suite of digital interventions across value chain in progress Enablers Non exhaustive Clairco FacTech AutoDesk Ozonetel Smart Joules Sales Force Construction Cloud Solution to provide Tenant Building Call center software An AI-based energy Industry best enhanc
Slide 31: Driving impactful Sustainability initiatives
Sustainability & ESG focus Execution Driving impactful Sustainability initiatives Enablers Implemented Sustainable Initiatives FY25 Achievements FY26 Priorities Non exhaustive • Integration of double-glazing units and IoT-based • Achieved LEED Platinum Operations & Maintenance • Establish Net Zero T
Slide 32: Measuring Progress – Ratings & Certifications
Measuring Progress – Ratings & Certifications Operational Assets Upcoming Portfolio Initiated for WELL Health & Wellbeing Certification LEED Platinum pre- WiredScore LEED Platinum LEED Platinum ISO -9001 WELL Health & Internation BSC 5-star certified for Green Platinum Certified for Operation & ISO
Slide 33: Key Sustainability Initiatives & Targets for FY26
Sustainability & ESG focus Execution Key Sustainability Initiatives & Targets for FY26 Enablers Non exhaustive Scope 3 LCA Calculation Initiate and formalize Net Zero Goal Setting Initiate calculation of scope Life Cycle Assessment Establishing Net Zero Targets for 3 emissions across portfolio of al
Slide 34: Contributing back to society
Sustainability and ESG focus Execution Contributing back to society is at the core of how we Enablers approach the business Max Estates and Max India Foundation (CSR arm of Max Max Estates and Max India Foundation (CSR arm of Max Group) collaborate to Group) collaborate to improve communities by eng
Slide 35: We intentionally design an ecosystem of amenities
Customer Experience centricity Execution We intentionally design an ecosystem of amenities … Enablers Daycare Forest Courtyard Cafeteria Meditation Room Event Spaces Food Court Retail Stores A work environment that is good for people is great for business Source: Internal Company Documents 33
Slide 36: Engaging events to elevate Customer Experience
Customer Experience centricity Execution …and curate engaging 74 events driving 2,700+ engagements Enablers to elevate Customer Experience 34
Slide 37: Building Awareness of Max Estates brand story (1/2)
Strong Brand Equity Execution Building Awareness of Max Estates brand story (1/2) Enablers MEL website Social Media Platforms Non exhaustive In FY 2024–2025, our website’s total visitor traffic reached Launch a comprehensive campaign on all social media platforms to implement approximately 1.8 milli
Slide 38: Building Awareness of Max Estates brand story (2/2)
Strong Brand Equity Execution Enablers Building Awareness of Max Estates brand story (2/2) Estate 360: Non exhaustive Launch & Success Event LiveWell Partner Events: National LP Retreat Gurugram Association of A Seat at the Table 2.0 Realtors Event FOS RnR Event 5 Upcountry Events: Dehradun Jaipur M
Slide 39: Awards and recognition
Strong Brand Equity Execution Awards and recognition Enablers Non exhaustive High-end Residential Project of the Year- ET Realty Commercial Project of the Year – ET Realty Best Realty Brands – ET Now Best Organisation for Women – ET Now Best Commercial Project – CNBC International Safety Award – Bri
Slide 40: Q1 FY26 financials
1 About Max Estates 2 Project wise update 3 Growth outlook 4 Execution enablers 5 Q1 FY 26 financials Experience WorkWell & LiveWell at 6 Max Estates www.maxestates.in 38
Slide 41: Max Estates Limited – Q1FY26 Performance Highlights
FY24 Highlights Max Estates Limited –Q1FY26 Performance Highlights Total Leased Area as on date Capital Structure ~1.2 mn sq. Ft. Equity Capital: Rs. 2,671 Cr. 1 (Max Estates share: Rs. 2,288 Cr) Lease Rental Incomes Debt as on June 2025 Q1 FY26 – Rs. 39.3 Cr External Debt : Rs. 1,406 Cr2 (Including
Slide 42: Summary: Financial Highlights for Q1 FY26
Summary: Financial Highlights for Q1 FY26 • Consolidated Revenue stood at INR 52 Crore in Q1 FY26, a growth of 27% on a YoY basis • Consolidated EBITDA stood at INR 14 Crore in Q1 FY26 • Consolidated PBT stood at INR 17 Crore and PAT stood at INR 12 Crore in Q1 FY26 • Total Leased Area as on 30th Ju
Slide 43: Max Estates – Operational Metrics
Max Estates – Operational Metrics Total Leased Area (in Sq. Ft.) Lease Rental Income (Rs. Mn.) 1,104 1,229,109 662 485 916,926 373 400,563 407,286 FY22 FY23 FY24 FY25 FY22 FY23 FY24 FY25 Quarterly Trend Total Leased Area (in Sq. Ft.) Lease Rental Income (Rs. Mn.) +27% +33% 970,000 1,039,767 1,167,89
Slide 44: Max Estates - Profit & Loss Statement
Max Estates - Profit & Loss Statement Consolidated Profit & Loss (In Rs. Cr) Q1FY26 Q4FY25 Q1FY24 12M FY25 Net Revenue 51.5 39.8 40.5 160.5 Cost of Goods Sold 3.8 - 1.9 4.5 Employee benefit expense 7.3 5.6 3.8 17.6 Advertisement and Marketing expense 9.4 9.6 7.8 38.4 Other expenses 17.1 15.5 11.8 55
Slide 45: Experience WorkWell & LiveWell at Max Estates
1 About Max Estates 2 Project wise update 3 Growth outlook 4 Execution enablers 5 Q1 FY 26 financials Experience WorkWell & LiveWell at 6 Max Estates www.maxestates.in 43
Slide 46: 222 Rajpur – Key highlights
Max Estates’ Portfolio 222 Rajpur – Key highlights Area ~5 acre Abutting the Malsi Reserve Forest Limited inventory of 22 bespoke residences 100% Sold 44
Slide 47: Night View
Night View * w i iy ow mies See
Slide 48: Max Towers – Key highlights
Max Estates’ Portfolio Max Towers – Key highlights Leasable Area On DND Flyway, at ~0.6 mn. sq. ft. entrance of Noida Rental~ 25-30% Occupancy 100% premium to micro market Certified LEED Marquee tenant Platinum from profile USGBC and Health ESRI India, IEX, Veolia, Kama and Wellbeing Gold Ayurveda,
Slide 49: The Cube
The Cube 47
Slide 50: Food Court
Food Court 48
Slide 51: Max House – Key highlights
Max Estates’ Portfolio Max House – Key highlights Leasable Area Boutique campus ~0.3 mn. sq. ft. development in CBD of South Delhi Phase 1- Rental~ 25-30% Occupancy 100% premium to micro Phase 2- market Leased1 100% LEED Gold certified Marquee tenant and Health and profile Wellbeing Gold from BBC, N
Slide 52: Grand Entrance
Grand Entrance 50
Slide 53: Lobby
Lobby 51
Slide 54: Max Square – Key highlights
Max Estates’ Portfolio Max Square – Key highlights Leasable Area ~0.7 mn. sq. ft. On Noida- Gr. Noida Expressway 100% Leased1 Designed around a central forest Marquee tenant profile NDTV, Adobe, AML, Cloud angels, Hero Cycles, General Atomics, Moody’s, Unicharm etc IGBC Platinum certified for Green
Slide 55: Central Forest Courtyard
Central Forest Courtyard 53
Slide 56: Food Court
Food Court 54
Slide 57: Estate 128 – Our first luxury residential project in NCR
Max Estates’ Portfolio Estate 128 – Our first luxury residential project in NCR Leasable Area ~10 acres Rectangular & contiguous Abutting Noida Gr. Noida Expy Frontage of ~340 m on expressway ~ 7 acres of gardens/ lawns IGBC Platinum pre- certified for Green Representational image Homes The Project
Slide 58: Large wrap around decks in the units
Large wrap around decks in the units Representational image56
Slide 59: Estate 360, Gurugram – inter-generational community at scale
Max Estates’ Portfolio Estate 360, Gurugram – Delhi NCR’s first inter-generational community at scale Land Area = ~11.8 acres At the confluence of 3 Gurugram’s major corridors ~2.4 Mn sq. ft. of development Opposite 220-acre green zone and 50 m green belt and key commercial developments Representati
Slide 60: Well-being amenities for all generations
Well-being amenities for all generations 58 Representational image
Slide 61: Countryside-themed landscape
Countryside-themed landscape Representational image59
Slide 62: Safe Harbor
Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by Max Estates Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securitie
Slide 63: Details of Group Entities
Details of Group Entities • Max Estates Ltd. (CIN no. L70200DL2016PLC438718) is having its Corporate office at Max Towers, L-20, C - 001/A/1, Sector- 16B, Noida, Gautam Buddha Nagar, Noida UP 201301 & Registered office at Max House 1, Dr. Jha Marg, Okhla Phase 3, Opposite Okhla Railway Station, Okhl
Slide 64: Max Estates Limited contact details
MAX ESTATES LIMITED L-20, Max Towers, Sector – 16B, DND Flyway, Noida, UP - 201 301 Tel: +91 120 4743200 | www.maxestates.in CIN no. L70200DL2016PLC438718 62