TRUTHESTATE
Best Developers in Gurugram/Max Estates

Developer Profile

Max Estates

Max Group's wellness-led move into grade-A real estate.

Established 2016Listed

Truth Verdict

An early-stage record — projects on schedule so far, none delivered yet. The balance sheet reads strong.

01

About the developer

Max Estates is an active Gurugram developer; we hold in-depth reports on 2 of its projects. The read below is our own — delivery and delay history from public RERA filings, financial health from published financials, not the developer's marketing.

02

Track record

Projects we track

Flagship projects

  • Max Estate 361

In the pipeline

  • Max Estates Estate 360
  • Max Estates Estate 361
03

Performance

2

Projects launched

0

Delivered

2

Ongoing

On schedule · locked

Avg delay · locked

Across every Gurugram project we track for this developer — delivered, ongoing and lapsed. Not scoped to one micro-market.

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How reliably does Max Estates deliver?

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04

Financial health

89/100 · EXCEPTIONALCR: ICRA A+/StableGroup: Max Group (co-invested with New York Life Insurance)

Leverage · locked

Interest Coverage · locked

Cash Conversion · locked

Operating Margin · locked

Inventory Cover · locked

Forensic Analyst Audit Note

A directional read on Max Estates's financial health. The full audited financials and the per-project forensics are inside each report — unlock one for the complete numbers.

Verified Source: Max Estates Ltd Audited Consolidated Financial Results FY2025-26 (Board 22 May 2026)
📄 View Official Audited Statement (PDF) →
05

News & updates

Live12 verified updates

News & Updates

Every verified ground event on Max Estates — filings, construction, JVs, corridor infrastructure and pricing — read for what it means to a buyer.

19 Oct 2026Regulatory

HERC grants 25-year parallel power distribution licence for Gurugram, Nuh to Eleven Power

  • The Haryana Electricity Regulatory Commission (HERC) has granted Eleven Power Private Limited a parallel distribution licence for Gurugram and Nuh revenue districts for 25 years under Section 14 of the Electricity Act, 2003.
Forensic impact read

HERC granted a 25-year parallel power-distribution licence for Gurugram and Nuh to a private company, alongside the existing state discom. Over time this can give residents a second electricity supplier; tariffs, the coverage area and rollout timing are what to watch. Update (23 Oct): after a strike by power employees, the state government assured them there would be no privatisation (ThePrint), so whether this licence is actually rolled out is now uncertain. Talks resume on 3 Nov.

The TribuneVerify filing ↗
1 Oct 2026Regulatory

CAQM Winter GRAP Stage III/IV Guidelines Enforced: Complete Ban on C&D Activities, Earthwork & RCC Casting Across NCR

  • Commission for Air Quality Management (CAQM) invokes strict Winter Graded Response Action Plan (GRAP Stage III/IV) measures across Delhi-NCR following severe air quality deterioration (AQI >400).
  • Mandates complete cessation of construction and demolition (C&D) activities, including earthwork, excavation, piling, concrete mixing/casting, and transit of loose building materials across Gurugram.
  • Non-earthwork site operations subject to strict anti-smog gun deployment and water-sprinkling mandates.
Forensic impact read

Immediate site halt freezes ongoing structural casting and superstructure progress; introduces potential 30–60 day milestone slippage risks; elevates idle machinery carrying and labor retention costs for developers across active under-construction developments.

Ref CAQM/DIR/GRAP-2026-10Verify filing ↗
24 Sept 2026Corporate / JV

Max Estates Signs Binding MoU for ~9.76-Acre Ghaziabad Project with ₹2,500-3,000 Crore GDV Potential

  • Max Estates enters the Ghaziabad market through a capital-light joint development model on a ~9.76-acre land parcel in Indirapuram. The proposed residential project has a development potential of ~1.5 million sq. ft. and an estimated GDV of ₹2,500–3,000 crore, compensating the landowner via revenue-sharing.
Forensic impact read

Max Estates signed a binding MoU for a ~9.76-acre Ghaziabad project with Rs 2,500–3,000 crore GDV — NCR expansion outside Gurugram; a developer-level pipeline signal.

SahiVerify filing ↗
22 Sept 2026Regulatory

Gurugram tightens construction and demolition waste rules; no Occupancy Certificate without disposal proof

  • The Municipal Corporation of Gurugram (MCG) has tightened rules for construction and demolition (C&D) waste management, making proof of proper waste disposal a mandatory requirement for obtaining Occupancy Certificates (OCs) and Completion Certificates (CCs).
Forensic impact read

MCG will not issue an Occupancy Certificate without proof of construction-and-demolition waste disposal — a new compliance gate that can delay OC/possession timelines across Gurugram projects.

The TribuneVerify filing ↗
11 Sept 2026Regulatory

Gurugram waterlogging: HHRC orders city-wide drainage audit, summons GMDA report by December 15

  • The Haryana Human Rights Commission (HHRC) has taken suo motu cognizance of recurring Gurugram waterlogging, calling it a problem that "goes beyond a temporary disruption caused by heavy rainfall" and ordering a comprehensive city-wide civic infrastructure audit.
The TribuneVerify filing ↗
2 Sept 2026Corporate / JV

Max Estates Enters Delhi With 84.71 Acre Land Deal

  • The transaction could be valued at up to Rs4.202 billion (bn), subject to shareholder approval and in-principle clearances from the BSE and the National Stock Exchange. The acquired land is expected to unlock a gross development value of Rs100 billion (bn) to Rs120 billion (bn) over the next few years, according to the company, providing a substantial multi-year pipeline for residential development.
Construction WorldVerify filing ↗
21 Jun 2026Corridor Infra

Gurugram Railway Station to get direct road link to Dwarka Expressway

  • The Gurugram Railway Station, currently being upgraded under the Centre's Amrit Bharat Station Scheme, is set to get a direct road link to the Dwarka Expressway, with the Gurugram Metropolitan Development Authority (GMDA) preparing to commission a feasibility study to identify the most suitable route.
tribuneindia.comVerify filing ↗
13 May 2026Corridor Infra

Dwarka Expressway connectivity to get Rs 90 crore road upgrade boost

  • In a major infrastructure push aimed at strengthening connectivity around the Dwarka Expressway corridor, the Gurugram Metropolitan Development Authority (GMDA) has prepared a comprehensive plan worth nearly Rs 90 crore for the repair and redevelopment of around 50 kilometres of roads linked to the expressway.
tribuneindia.comVerify filing ↗
22 Apr 2026Corridor Infra

GMDA plans two flyovers on Dwarka Expressway corridor to ease IMT Manesar traffic

  • In a major push to tackle mounting traffic congestion along the Dwarka Expressway corridor, the Gurugram Metropolitan Development Authority (GMDA) is set to construct two new flyovers, including a key structure at Shaheed Rao Ranjit Singh Chowk in Sector 84. The move is aimed at streamlining traffic flow between Dwarka Expressway and IMT Manesar, a stretch that routinely witnesses heavy vehicular pressure.
tribuneindia.comVerify filing ↗
30 Sept 2024Pricing & Sales📌 Landmark

Max Estates Surpasses Full-Year Sales Guidance with ₹4,100 Crore Pre-Sales at Estate 360

  • Max Estates recorded ₹4,100 Crore in bookings within 30 days of launch for its maiden Gurugram project Estate 360 in Sector 36A on Dwarka Expressway.
  • Intergenerational wellness residences across 11.8 acres received overwhelming demand from corporate CXOs and NRIs.
Forensic impact read

Unprecedented debut capitalization completely covers multi-year civil construction contracts.

Ref BS/INDUSTRY/124093000283Verify filing ↗
11 Mar 2024Corridor Infra

Dwarka Expressway 8-Lane Elevated Section Inaugurated; Signal-Free Airport Transit Operational

  • Prime Minister Narendra Modi inaugurated the 19-km Haryana section of the 8-lane elevated Dwarka Expressway (NH-248BB).
  • Provides direct signal-free high-speed corridor connecting Delhi border sectors to Indira Gandhi International (IGI) Airport Terminal 3.
Forensic impact read

Transformational expressway opening unlocks seamless airport and interstate connectivity.

Ref TH/NAT/67938445Verify filing ↗
11 Mar 2024Corridor Infra📌 Landmark

CPR Cloverleaf Interchange & Dwarka Expressway Link Fully Operationalized

  • Central Peripheral Road cloverleaf interchange fully connects Dwarka Expressway to NH-48.
  • Signal-free access established to IGI Airport Terminal 3 and Cyber City.
  • Accelerates secondary absorption across Sectors 102 to 113.
Forensic impact read

Transformational macro-connectivity driver slashing transit times and establishing arterial parity with NH-48.

Ref TH/NAT/67938445Verify filing ↗
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06

Frequently asked

How many projects has Max Estates delivered in Gurugram?

We track 2 Max Estates projects in Gurugram: 0 delivered, 2 still under construction. Each is scored on delivery, legal standing and pricing in its own report.

Is Max Estates a reliable developer to buy from?

But reliability is project-specific: our developer read covers delivery, financial strength and legal signals, and every project Max Estates is building gets its own forensic report and Truth Score. Check the specific project before you book.

See all Max Estates projects

Every project we track from this developer — Truth Score, entry price and delivery risk, side by side.

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Independent assessment by Truth Estate. No developer can pay for a higher score or a better placement. Performance figures are our own tracked estimates. For the full audited financials and project-level forensics, open the reports.