Q3 2026 Max India Ltd Earnings Call Transcript
Key Points
- Max India Ltd (BOM:543223) reported a 19% growth in revenue over the 9-month period, indicating strong performance across most verticals.
- The company has seen a significant increase in investor interest and policy support in the senior living sector, with new players entering the market.
- The launch of the 361 project in Gurugram has been successful, with over 100 bookings secured within two months of launch.
- The care at home business achieved its highest quarterly revenue ever, driven by higher margin services such as critical care and physiotherapy.
- AGEasy has shown substantial growth with a 2.3 times increase in offline sales and a 1.3 times increase in D2C vertical sales year-on-year.
- The company reported a negative EBITDA of 29% for the quarter and 78% for the 9-month period, reflecting ongoing investments and challenges in achieving profitability.
- There was a technical glitch with the Flipkart channel that impacted AGEasy's sales, causing a delay in stock inverting and affecting revenue.
- Occupancy rates in care homes remain low, with a slight increase from 25% to 27% in Q3, indicating room for improvement in utilization.
- The Noida project is facing delays due to pending regulatory approvals, impacting the timeline for revenue realization.
- The company plans to raise additional funds of INR200-250 crores in the next 6 to 9 months, indicating a need for external capital to support growth initiatives.
Ladies and gentlemen, good day and welcome to Q3 and 9 months FY26 earnings conference call hosted by Max India Limited.
(Operator Instructions)
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.
Namaste and a very good evening to all of you. On behalf of Max India Limited, I extend a very warm welcome to all of you on the Q3 and 9-month FY26 earnings call. Deep gratitude to all of you who support us for your patience, because when you're working in a new sector and trying to do something different from others, it does require both focus on patients. So, we deeply appreciate the support that you've attended to all of us, so far.
My colleagues are here with me. Ajay, who's a deputy CEO and CFO of Antara Senior Living, head of Investor relations, Sandeep Pathak, CFO of Max India, and the head of legal also for Max, Ishaan Khanna, is the CEO of Antara Assisted Care, Ankit, who's the CFO, for
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