Q2 2026 Max India Ltd Earnings Call Transcript
Key Points
- Max India Ltd (BOM:543223) reported a 15% year-on-year revenue growth for the first half of FY26, with a 6% increase in the second quarter alone.
- The company successfully concluded a rights issue of INR124.23 crores, which was oversubscribed, indicating strong investor confidence.
- The Gurugram intergenerational project 360 is fully sold out, with a high collection efficiency of 99%, contributing significantly to the company's revenue.
- Occupancy in Care Homes improved from 20% in Q1 FY26 to 25% in Q2 FY26, showing increasing acceptance of the concept.
- AGEasy achieved a net revenue of INR20.9 crores, marking a 1.5x growth quarter-on-quarter, with a significant improvement in return on ad spend (RoAS) to 2.9%.
- The Chandigarh project faced setbacks due to geopolitical issues, impacting the company's ability to meet its 1.5 million square feet annual development target.
- Consolidated EBITDA was negative at INR25.3 crores, indicating ongoing challenges in achieving profitability.
- The Assisted Care segment reported a negative EBITDA of INR43 crores, with significant losses attributed to Care Homes.
- The company is still not at an operational level of profitability, with a focus on cost optimization and high utilization needed to improve financial performance.
- The Noida Sector 150 project is pending Supreme Court approval, causing delays in project execution and revenue realization.
Ladies and gentlemen, good day, and welcome to Max India Limited Q2 and H1 FY26 Earnings Conference Call. (Operator Instructions) Please note that this call is being recorded.
I now hand the conference over to Mr. Rajit Mehta, MD and CEO from Max India Limited. Thank you, and over to you, sir.
Thank you very much. Namaste everybody, and a very good morning to all of you. On behalf of Max India, a very warm welcome to each one of you for our Q2 and H1 FY26 earnings call. Hope all of you had a good festive season and wish you all the best for the year as we approach 2026. Some of you not in Delhi, you are blessed. You're not facing the polluted air that we are facing. So stay away for a few weeks, in my advice.
Today, I'm joined by my colleagues, Mr. Ajay Agrawal, the Deputy CEO and CFO for Antara Senior Living and Head of Investor Relations; Sandeep Pathak, who is the CFO for Max India Limited and also Legal Counsel for Max India's all companies as a whole; Mr. Ishaan
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