News · BFSI
Max India Limited (NSE:MAXIND) disclosed consolidated Q2 FY27 revenue of Rs 99.1 crore, an 89 per cent year-on-year jump, while its consolidated EBITDA loss narrowed by 55 per cent to Rs 11.4 crore.
✦ AI SUMMARY 30-second read
- Consolidated Q2 FY27 revenue rose 89 per cent year-on-year and 44 per cent quarter-on-quarter to Rs 99.1 crore.
- Consolidated EBITDA loss narrowed to Rs 11.4 crore in Q2 FY27 from Rs 25.3 crore in Q2 FY26, a 55 per cent improvement.
- Residences for Seniors segment revenue grew 156 per cent year-on-year to Rs 50.5 crore, with approximately Rs 212 crore in sales collections across Gurugram and Noida.
Why it matters: The results show Max India's senior care businesses gaining revenue scale while losses narrow, a trajectory relevant to India's fast-growing aged-population services market.
This summary was generated by AI. Editors may review and update it.
Max India Limited, listed on NSE and BSE and headquartered in Gurgaon, Haryana, filed an investor release on 3 November 2026 under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015, covering Q2 and the first half ended 30 September 2026.
The filing disclosed consolidated Q2 FY27 revenue of Rs 99.1 crore, up 89 per cent year-on-year from Rs 52.4 crore in Q2 FY26 and up 44 per cent from Rs 68.9 crore in Q1 FY27. The company operates through two primary businesses: Antara Senior Living, which develops and manages senior residences, and a care-at-home and senior-products arm that includes Antara Care Homes and the AGEasy platform.
Despite the revenue improvement, the company continues to report a consolidated EBITDA loss, which stood at Rs 11.4 crore in Q2 FY27 compared with Rs 25.3 crore in Q2 FY26 and Rs 24.9 crore in Q1 FY27.
What was announced
Consolidated H1 FY27 revenue reached Rs 167.8 crore against Rs 94.9 crore in H1 FY26. The H1 FY27 consolidated EBITDA loss narrowed to Rs 36.4 crore from Rs 48.4 crore in H1 FY26. As of end-September 2026, consolidated net worth stood at approximately Rs 395 crore and liquidity at approximately Rs 52 crore.
The Residences for Seniors segment reported Q2 FY27 revenue of Rs 50.5 crore, up 156 per cent year-on-year, supported by approximately Rs 212 crore in sales collections across Gurugram and Noida during the quarter. AGEasy posted Q2 FY27 revenue of Rs 35 crore, approximately 1.7 times its year-ago level, with annualised recurring revenue reaching Rs 180 crore at the quarter exit.
Care Homes revenue came in at Rs 12.79 crore in Q2 FY27, roughly 40 per cent higher year-on-year, with occupied bed days rising from 6,765 in Q2 FY26 to 13,042 in Q2 FY27.
Project-level detail
Within the Residences segment, the Gurugram E360 project is fully sold. The E361 project has 247 of its 360 units sold, at a sales velocity of 31 units per month in Q2 FY27.
At Antara Noida Phase I, 127 of 340 units have been handed over to buyers, with Q2 collections of Rs 113.8 crore reported in the filing.
What it means for investors
The filing confirms that profitability at the consolidated level has not yet been achieved. However, the PBT margin for the Care Homes and AGEasy businesses improved to negative 66.8 per cent in Q2 FY27 from negative 106 per cent in Q1 FY27, indicating directional progress without specifying a break-even timeline.
Shareholders can track the disclosed liquidity of approximately Rs 52 crore and net worth of approximately Rs 395 crore against future quarterly filings as indicators of balance-sheet health.
India's senior care sector is supported by a rising elderly population, providing a structural demand backdrop for companies offering residential and care services in this space.
What happens next
Investors will watch whether the improving revenue trajectory and narrowing EBITDA losses in subsequent quarters translate into consolidated-level profitability, particularly as the E361 project continues to sell units and AGEasy's recurring revenue base expands.
Elets will update this story as further disclosures become available.
