Max Estates Ltd shares rose to a 52‑week high on Thursday, September 24, after the company announced a memorandum of understanding for a joint development agreement on a 9.76‑acre parcel in Ghaziabad. The deal, filed on September 23, is part of the developer’s expansion plan and has triggered an 8.22 % surge, lifting the price to ₹652.80 per unit on the National Stock Exchange. The intraday peak was reached at ₹652.80, up from a closing of ₹603.20.

The proposed project will offer a super built‑up development potential of roughly 1.5 million square feet and an estimated gross development value of between ₹2,500 and ₹3,000 crore, subject to approvals and final layout. The transaction will only proceed after satisfactory due‑diligence, receipt of all requisite approvals, and execution of the joint development agreement. The developer intends to partner with a landowner to deliver a housing project in Indirapuram, Ghaziabad.

The land sits along National Expressway‑3, features a buffer green belt, and is a 15‑minute drive from Akshardham Temple. It overlooks the green buffer zone of the Hindon River and offers superior connectivity from both Delhi and Noida. These attributes are highlighted in the regulatory filing as key selling points for the future residential development in 2026.

On Thursday, the stock surged as much as 8.22 % to ₹652.80, an intraday high, from a closing of ₹603.20. At 11:56 AM the price stood at ₹635.05, up 5.28 %. The share has risen 10 % in the past week, 16 % over the month, and 38 % year‑to‑date. It also touched a year’s low of ₹305.45 on March 30, 2026, underscoring the volatility of the sector.

Max Estates’ total market capitalisation stood at ₹10,387.32 crore as of September 24, 2026, according to NSE data. The company is among the leading real‑estate developers in the country, with multiple projects underway across the Delhi‑NCR region. The memorandum of understanding is expected to enhance its portfolio and potentially drive future earnings, pending regulatory approvals and final layout clearance in.