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As on : 13-Aug-2026
Hot Pursuit
13-Aug-2026     14:16

Max Estates Ltd. receives an initial issuer rating of [ICRA] A+ (Stable) from ICRA Limited

Max Estates Ltd announced that ICRA Limited has assigned an initial issuer rating of [ICRA] A+ (Stable) to the company, reflecting the expectation of continued strong performance, while also assigning a Stable outlook to the long-term rating for consolidated financials, considering the strategic importance of subsidiaries and associates; ICRA further provided details on various instruments including Residential Segment debt of Rs. 5,305 crore and Rs. 1,578 crore, operational commercial assets of 1.2 million square feet, leasing segment debt, a Bank Loan of Rs 500 Crore rated BBB+ (Stable), and debt obligations of Rs. 162 crore for FY2027, alongside metrics such as a Total external residential debt/CFO estimated at 2.0 - 2.5 times and a Cash flow adequacy ratio of 105% as of March 2026, and a Launch Pipeline of 5.3 msf, with CARE Ratings upgrading the Commercial Paper of Rs 100 Crore to an A2 rating with a Positive outlook.

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