Mumbai, May 25 -- The company's net revenue for Q4 FY26 increased 24.25% year-on-year to Rs 49.43 crore.

During the quarter, Max Estates reported a negative EBITDA of Rs 3.4 crore, against a positive EBITDA of Rs 9.1 crore in Q4 FY25. EBITDA margin stood at negative 6.9%, compared with 22.8% in the year-ago period.

Pre-tax loss for the quarter came in at Rs 6.17 crore, as against a profit before tax of Rs 21.28 crore reported in the corresponding period last year.

On the operational front, total leased area as of 31 March 2026 stood at 1.23 million square feet. Lease rental income from Max Towers, Max House (Phase I & II), and Max Square rose 40% year-on-year to Rs 154 crore in FY26.

The company said its total debt as of March 2026 st...