Slide 1: Exchange filing letter for Investor Presentation
May 23, 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 o
Slide 2: Investor Presentation: An overview of Max Estates' journey
Investor Presentation An overview of Max Estates’ journey May 2025
Slide 3: Key highlights
FY24 Highlights Key highlights 1. Residential Sales and CRE leasing 3. Business Development • Total GDV sold and project under implementation – Rs. • Total GDV acquired yet to be launched – Rs. 14,000 Cr 7,162 Cr • GDV to be acquired to achieve Rs. 21,000 Cr in next 3 years – Rs. • Rs. 5,321 Cr sale
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 March 2025 Particulars Mn Sqft GDV Rs. Cr Launched 3.8 7,568 Sold till date 3.6 7,162 To be sold 0.2 406 Collections (Rs. Cr) Project wise details (Rs. Cr) Particulars Total Estate 128 Particulars Estate 360 (Pha
Slide 7: Content
1 About Max Estates Content 2 Project wise updates 3 Growth outlook 4 Execution enablers 5 Q4 & FY 25 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 Q4 & FY 25 financials Experience WorkWell & LiveWell at 6 Max Estates www.maxestates.in 6
Slide 9: Max Estates' Purpose is anchored on core values of Max Group
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 Q4 & FY 25 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 105,988 sqft • Weighted average rental: ~Rs. 125 per sq. • Weighted average rental: ~Rs. 142 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 678,064 sqft • Total leasable area 151,094 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 12th May 2025 – Basement 2 works in progress in Tower B, Raft works in progress for Tower A Max 65, Gurugram As on 12th May 2025 – Raft/Foundation RCC works in progress for Tower CDEF, Basement 3 works in progress for 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 12th May 2025 – Tower 2 - As on 12th May 2025 – Tower 3 - As on 12th May 2025 – Sixteenth floor slab is being Sixteenth floor slab is being casted. Seventeenth floor slab is being casted. casted. Estate 360, Gurugram As on 12th
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 Rendition ~2.6 mn. sq. ft. mixed ~2.5 mn. sq. ft. Development Potential ~4.0 mn. sq.
Slide 21: Growth outlook
1 About Max Estates 2 Project wise update 3 Growth outlook 4 Execution enablers 5 Q4 & FY 25 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.) Gurugram Residential 1.3 Mn Outright Definitive Documentation Delhi Residential 0.1 Mn Outright Commercial negotiation Noida Residential 3.0 Mn Outright Commercial negotiation Delhi Reside
Slide 23: Execution enablers
1 About Max Estates 2 Project wise update 3 Growth outlook 4 Execution enablers 5 Q4 & FY 25 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 Rishi Raj K S Ramsinghaney COO – Max Estates Senior Advisor - Max Estates • Ex-COO, Centre of Expertise for Strategy & • Over 45 years of experience; 9 yrs. with Max Health Cor
Slide 28: Dedicated and experienced teams across key verticals (1/2)
Talent depth and diversity Execution ..supported by dedicated and experienced teams across key Enablers verticals (1/2) Non exhaustive 14+ 25+ 14+ 14+ Anshul Gaurav Archit Goyal AVP & P&L Head Amit Srivastava Arjun Gandhi Senior General Manager- (Commercial) Head - Sales Head - Marketing Corporate F
Slide 29: Dedicated and experienced teams across key verticals (2/2)
Talent depth and diversity Execution ..supported by dedicated and experienced teams across key Enablers verticals (2/2) Non exhaustive 13+ 26+ 30+ 24+ Atul Kundalia Anil Mishra Gaurav Dewan Parveen Singh General Manager – Senior General Manager – AVP and Head – General Manager – Engineering Projects
Slide 30: 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 31: 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 32: 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 33: Measuring Progress – Ratings & Certifications
Sustainability & ESG focus Execution Measuring Progress – Ratings & Certifications Enablers Operational Assets Upcoming Portfolio Non exhaustive LEED Platinum IGBC Platinum ISO -9001 WELL Health & LEED Platinum LEED Platinum IGBC Platinum Certified for Rated for ISO -14001 Safety Rating Operation &
Slide 34: 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 35: Contributing back to society is at the core of how we approach the business
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 36: 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 34
Slide 37: Curate engaging events to elevate Customer Experience
Customer Experience centricity Execution …and curate engaging events to elevate Customer Experience Enablers Exciting Pulse1 Improved F&B mix Organize sports events at The Hub activities Pet area in Max House Mural paintings in basements Bringing life into Our buildings Tenant engagements 1-Pulse: A
Slide 38: Building Awareness of Max Estates brand story
Strong Brand Equity Execution Building Awareness of Max Estates brand story Enablers Social Media Platforms Non exhaustive Outdoor and Print Media Launched a comprehensive campaign on all social media platforms to implement organic and lead generation (Instagram, Facebook, LinkedIn, X) • Website Tra
Slide 39: Advancing women's inclusion in workforce is imperative to unlock growth
Strong Brand Equity Advancing women’s inclusion in workforce is imperative to unlock growth potential of Real Estate in India Max Estates along with In Tandem Global Consulting (ITGC) published the report ‘Concrete Change’ which highlights the economic benefits of gender inclusion in Indian real est
Slide 40: Q4 & FY25 financials
1 About Max Estates 2 Project wise update 3 Growth outlook 4 Execution enablers 5 Q4 & FY 25 financials Experience WorkWell & LiveWell at 6 Max Estates www.maxestates.in 38
Slide 41: Max Estates Limited – FY25 Performance Highlights
Max Estates Limited – FY25 Performance Highlights Total Leased Area as on date Capital Structure ~1.2 Mn sq. Ft. Equity Capital: Rs. 2,661 Cr. 1 (Max Estates share: Rs. 2,279 Cr) Lease Rental Incomes Debt as on March 2025 FY25 – Rs. 110.4 Cr External Debt : Rs. 1,350 Cr2 (Including LRDs : Rs. 852 Cr
Slide 42: Summary: Financial Highlights for FY25
Summary: Financial Highlights for FY25 • Consolidated Revenue stood at Rs 161 Cr in FY25 • Consolidated EBITDA stood at Rs 45 Cr in FY25 • Consolidated PBT stood at Rs 38 Cr and PAT stood at Rs 27 Cr in FY25 • Total Leased Area as on 31st March 2025 stood at 1.2 million sq. ft. • Total Lease Rental
Slide 43: Max Estates – Operational Metrics
Max Estates – Operational Metrics Total Leased Area (in Sq. Ft.) Lease Rental Income (Rs. Mn.) 1,104 12,29,109 662 485 9,16,926 373 4,00,563 4,07,286 FY22 FY23 FY24 FY25 FY22 FY23 FY24 FY25 Quarterly Trend Total Leased Area (in Sq. Ft.) Lease Rental Income (Rs. Mn.) +34% +26% 9,16,926 10,39,767 11,6
Slide 44: Max Estates - Profit & Loss Statement
Max Estates - Profit & Loss Statement Consolidated Profit & Loss (In Rs. Cr) Q4FY25 Q3FY25 Q4FY24 FY25 FY24 Net Sales 39.8 40.0 30.0 160.5 92.9 Cost of Goods Sold 4.5 Employee benefit expense 5.6 4.2 3.5 17.6 12.3 Advertisement and Marketing expense 9.6 7.9 4.2 38.4 22.6 Other expenses 15.4 16.4 14.
Slide 45: Experience WorkWell & LiveWell at Max Estates
1 About Max Estates 2 Project wise update 3 Growth outlook 4 Execution enablers 5 Q4 & FY 25 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 Platinum Marquee tenant for Green Building profile Strategies and for ESRI India, IEX, Veolia, Kama Operations &
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 99% 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 a
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 – Delhi NCR's first 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
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