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Max Estates Limited (MAXESTATES) fair value: what the stock is really worth
As of Oct 30, 2026: fair value (intrinsic value) of Max Estates Limited stock ₹72.98, price ₹505, upside -85.5%, quality 23 out of 100. Rating: strongly overvalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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ME
Some data
Oct 31, 2026
Some data
Oct 31, 2026
Max Estates Limited
MAXESTATES · BSEWeakest Setup
Our calculation puts a fair price 86% below what the stock costs today.
Revenue last quarter +33% vs. a year ago.
Expensive Growth (revenue 3y +22.9 %/yr in INR)
Thin margins · 3.0% net margin (TTM)
Moderate debt
Some data
Fair value ₹72.98 · Strongly overvalued (−85.5%)
Quality 23/100
Negative free cash flow
Narrow moat 43/100
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What runs behind every stock
26
valuation models
8 families, DCF to NCAV
37
quality factors
margins, balance sheet, cashflow, debt
6
AI factors
moat, what no ratio measures
2,000+
data points
verified, per stock, median
69 individual criteria per stock, every one traceable See the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Oct 31, 2026.
How to read this chart
35‑month range ₹250.30 – ₹686.05 · the ₹504.95 price screens above the ₹72.98 fair value. As of Oct 31, 2026.
Company profile
Max Estates Limited construction and develops residential and commercial properties. It also offers investment, facility management, managed office, and shared services.
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In addition, it engages in real estate development, letting, and sub-letting; and selling and distribution of residential or commercial complex, houses, buildings, etc. The company was incorporated in 2016 and is based in Noida, India.
Stock analysis
Max Estates Limited (MAXESTATES) currently trades at ₹504.95, while our model-based Fair Value estimate is ₹72.98, 85.5% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Asset-Based group reads highest at a median of ₹99.01 per share, and 0 of the 4 models we run sit above the ₹504.95 price.
Bear case: the Multiples group reads lowest at ₹13.01, and 4 of the 4 models stay below the price. Data coverage for this calculation is medium.
Quality & growth
The Quality Score stands at 23/100 (below-average quality), in the Real Estate sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Max Estates Limited reported revenue of ₹2.0B in FY2026 versus ₹693M in FY2022, a compound +30.3%/yr. Reported net income was ₹125M in FY2026, compounding +25.8%/yr from FY2022.
Key figures
Market cap ₹82.5B (≈ $869M) Small · P/E ratio 691.7 · P/S ratio 27.6 · EPS (TTM) ₹0.7300 · Net margin 3.0% · Return on equity 0.5% · Return on assets (EBIT) 0.5% · Operating margin 35.1%.
What moves the price
The share trades about 18% below its 52-week high and 64% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at −11% fair-value upside, at −86%, MAXESTATES screens richer than that median.
Fair Value models
Bear ₹72.98
Fair Value ₹72.98
Bull ₹72.98
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2026 figures (about 7 months old). Earnings retained since then (₹0.4280 per share) are deliberately not added.
Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.
Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
Residual Income
₹84.56
₹72.98
₹65.95
68
P/S Multiple
₹9.75
₹13.01
₹16.26
57
P/B Multiple
₹221.67
₹295.56
₹369.45
55
All 4 models by family
Multiples
P/S Multiple
₹9.75
₹13.01
₹16.26
57
P/B Multiple
₹221.67
₹295.56
₹369.45
55
Asset-Based
NCAV (Graham)
₹73.89
₹99.01
₹147.78
53
Economic Profit
Residual Income
₹84.56
₹72.98
₹65.95
68
Quality Score breakdown
Overall quality
23/100
It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.
Profitability
15
How much profit the company makes from its sales and capital
Quality Growth
52
Are margins and returns getting better?
Cashflow
0
Do the profits arrive as real cash?
Financial strength
25
Debt, balance sheet and risk of trouble
Investment
0
Does it invest with discipline instead of growing at any price?
Low Volatility
45
How calm the share price moves, does not count
Momentum
68
Price trend of the last 3 to 12 months, does not count
Near the 52-week high
52
Distance to the 52-week high, does not count
New shares
56
Buys back shares or issues new ones?
Revenue & earnings trend
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.
52/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+24.3%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+22.9%
’22
’23
’24
’25
’26
What shareholders gained per year (last 5 years), in INR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+17.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year+17.6%
Dividend (yield on the price)0.0%
Profit margin 2022 to 2026 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.29% → −4%
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Real Estate - Development · 565 stocks
Beats the industry median on 2/11 measures
Overall it trails its industry peers.
Valuation Multiplesvs Real Estate - Development median · lower = cheaper
Context: sector, industry, market
- Is the Financials sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Net margin by industry
- P/B ratio by industry
- Undervalued stocks: Indian Stocks
- Valuation of the India market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
None of the checked exposures detected
Similar stocks
10 more Real Estate - Development stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value | Compare |
|---|---|---|---|---|
| China Overseas Land & Investment Limited 0688 | HK$12.43 | HK$22.54 | +81% | vs MAXESTATES |
| CK Asset Holdings 1113 | HK$46.22 | HK$72.05 | +56% | vs MAXESTATES |
| Sun Hung Kai Properties Limited 0016 | HK$107.70 | HK$156.00 | +45% | vs MAXESTATES |
| Poly Developments and Holdings 600048 | ¥5.42 | ¥5.87 | +8% | vs MAXESTATES |
| Vinhomes Joint Stock Company VHM | 63,500 VND | 56,356 VND | −11% | vs MAXESTATES |
| China Merchants Shekou Industrial Zone Holdings 001979 | ¥7.86 | ¥6.63 | −16% | vs MAXESTATES |
| Sino Land Company 0083 | HK$10.58 | HK$6.32 | −40% | vs MAXESTATES |
| Lodha Developers Limited LODHA | ₹1,010 | ₹271.92 | −73% | vs MAXESTATES |
| DLF Limited DLF | ₹694.35 | ₹167.48 | −76% | vs MAXESTATES |
| Hongkong Land Holdings H78 | $8.30 | $1.52 | −82% | vs MAXESTATES |
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Frequently asked questions
Is Max Estates Limited (MAXESTATES) overvalued or undervalued?
As of Oct 31, 2026, our model estimates a fair value of ₹72.98 versus a price of ₹504.95, about −86% upside (overvalued).
What is the fair value of MAXESTATES?
Our model-based fair value for Max Estates Limited is ₹72.98 (as of Oct 31, 2026), built from audited fundamentals. The current price: ₹504.95.
What is the quality score of MAXESTATES?
Max Estates Limited has a Quality Score of 23/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Max Estates Limited (MAXESTATES)?
Our model-based price target is the fair value of ₹72.98 (as of Oct 31, 2026) from 4 valuation models. It is a calculation from audited fundamentals, not an analyst target.
What is the Max Estates Limited stock forecast for 2026?
Our models put fair value at ₹72.98, about −86% upside versus a price of ₹504.95 (overvalued). The calculation is refreshed regularly with new filings.
What is the revenue of Max Estates Limited (MAXESTATES)?
Max Estates Limited reported trailing-twelve-month revenue of about ₹3.0B (latest available figure, as of Oct 31, 2026).
What is the intrinsic value of Max Estates Limited (MAXESTATES)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Max Estates Limited it is ₹72.98 per share (as of Oct 31, 2026), against a price of ₹504.95. It is the blended result of 4 valuation models (cash flow, earnings, asset, dividend).
Is Max Estates Limited stock overvalued or undervalued in 2026?
As of Oct 31, 2026, MAXESTATES trades above its calculated fair value: price ₹504.95, fair value ₹72.98, a gap of about −86% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of MAXESTATES?
No. The price is what the market pays today (₹504.95); the fair value is what the company's own numbers justify (₹72.98). For Max Estates Limited the two are ₹431.97 per share apart. That gap is exactly why we show both numbers side by side.
How much is Max Estates Limited worth?
The market values Max Estates Limited at about ₹82.5B (market capitalisation, as of Oct 31, 2026). Per share that is ₹504.95; our models calculate a fair value of ₹72.98 per share.
How solid is the balance sheet of Max Estates Limited (MAXESTATES)?
Balance-sheet figures for Max Estates Limited (as of Oct 31, 2026): return on equity 0.5%, debt of 0.95 per unit of equity. They feed the Quality Score of 23/100, which measures business quality independently of the share price.
How far is MAXESTATES from its 52-week high?
Max Estates Limited trades at ₹504.95, about 18% below its 52-week high of ₹615.75 and 64% above the low of ₹307.35 (as of Oct 30, 2026). Distance from the high says nothing about value: that is what the fair value of ₹72.98 is for.
Which stocks are comparable to Max Estates Limited?
From the same area (Real Estate) we also value Sun Hung Kai Properties Limited, Vinhomes Joint Stock Company, CK Asset Holdings, DLF Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Max Estates Limited stock attractive at the current price?
The data as of Oct 31, 2026: price ₹504.95, calculated fair value ₹72.98 (−86%), Quality Score 23/100, from 4 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of MAXESTATES calculated?
We run Max Estates Limited through 4 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹72.98, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.4 % above its aggregate fair value. Max Estates Limited itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Max Estates Limited (MAXESTATES)?
The closing price on Oct 30, 2026 was ₹504.95. Our model-based fair value is ₹72.98, about −86% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Max Estates Limited right now?
The price sits above even our optimistic bull case (₹72.98). The favourable scenario is already priced in. Weak quality (23/100) and above fair value at the same time, the margin of safety is missing on both counts. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Key figures of Max Estates Limited
How large is the market capitalisation of Max Estates Limited (MAXESTATES)?
The market capitalisation of Max Estates Limited is ₹82.5B (≈ $869M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/E ratio of Max Estates Limited (MAXESTATES)?
The price-to-earnings ratio of Max Estates Limited is 691.7. Price to earnings: how many years of current profit you pay for the stock. A P/E of 10 means ten years of profit.
What is the P/S ratio of Max Estates Limited (MAXESTATES)?
The price-to-sales ratio of Max Estates Limited is 27.6 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Max Estates Limited (MAXESTATES)?
Earnings per share at Max Estates Limited are ₹0.7300 (price ÷ EPS = P/E 691.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Max Estates Limited (MAXESTATES)?
The net margin of Max Estates Limited is 3.0% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Max Estates Limited (MAXESTATES)?
The return on equity (ROE) of Max Estates Limited is 0.5% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Max Estates Limited (MAXESTATES)?
On an EBIT basis the return on assets of Max Estates Limited is 0.5% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Max Estates Limited (MAXESTATES)?
The operating margin of Max Estates Limited is 35.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Max Estates Limited (MAXESTATES)?
Revenue at Max Estates Limited is growing −0.1% versus a year earlier (3y avg +22.9%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Max Estates Limited (MAXESTATES)?
Earnings per share at Max Estates Limited are growing −31.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Max Estates Limited (MAXESTATES) generate?
The free cash flow of Max Estates Limited is −₹7.0B (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Max Estates Limited (MAXESTATES) carry?
The net debt of Max Estates Limited is ₹21.7B (fiscal year 2026). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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