FY26 Pre-sales Target: ₹6,000-6,500 Crore
Three H2 launches (Estate 361, Max One Delhi, Estate 105) expected to drive 15-20% YoY pre-sales growth over FY25. Estate 361 has received building plan approval, awaiting fire approval.
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Commercial Rental Income Target: ₹700+ Crore
Management targets over ₹700 crore annual lease rental income from commercial portfolio over the coming few years, with natural growth from existing assets and new completions (Max Square ₹110+ Cr, Max District ₹200+ Cr) kicking in from FY28-29.
Margin Guidance Maintained
Management reiterated confidence in 40% margins for outright land acquisitions and 20% margins for joint development arrangements, achieved through conservative underwriting without assuming price escalation.
FY26 Construction Capex: ₹1,100-1,200 Crore
Full-year residential construction spend of approximately ₹800 crore plus commercial construction of ₹300-400 crore. Q2 spend was ₹250 crore residential and ₹175 crore commercial.
FY26 Pre-sales Guidance: ₹5,000-6,000 crore
Company remains confident of achieving annual pre-sales guidance driven by remaining Estate 361 inventory sales and upcoming NOA launches of ₹4,000-5,000 crore GDV.
FY27 Collections: ₹2,500-3,000 crore
Expected collection of ₹1,500-1,750 crore from existing sales and ₹1,000-1,300 crore from new launches planned in FY27.
Commercial Annuity Income: ₹700+ crore annually
Company targets annual rental income potential of over ₹700 crore on 100% basis across delivered and under-construction commercial projects over the next few years.
Portfolio Expansion: 1-2 million sq ft residential annually
Company aspires to add 1-2 million sq ft in residential segment every year, along with 1 million sq ft of commercial office space annually, deploying capital of approximately ₹2,000 crore.
FY27 Collection Target: 2,500-3,000 crores
Expect 1,200-1,500 crores from previously sold inventory and another 1,200-1,500 crores from new launches in FY27.
Project Deployment: 1,500-1,800 crores
Construction deployment expected in the range of 1,500-1,800 crores, generating positive operating cash flow.
Annual Addition Target: 2M sf residential + 1M sf commercial
Continue targeting approximately 2 million square feet of residential development and 1 million square feet of commercial space annually.
Sector 59 Golf Course Launch: Q3 FY27
3,900 crore GDV project on Golf Course Extension Road in Gurgaon planned for Q3 FY27, with phased or一次性 launch depending on market conditions.