Bank of Maharashtra Share Price Target 2027, 2028 and 2030: Long Term Analyst Forecast

Bank of Maharashtra at Rs 80.1 consistently holds the highest CASA ratio (approximately 50 percent) among PSU banks and a sector-leading 22.6 percent ROE, yet trades at only 8x earnings. The Government of India holds 86.46 percent, well above SEBI's 75 percent cap, requiring mandatory dilution of approximately 11 percent of equity. The Bank of Maharashtra share price target of Rs 94 for 2027, rising to Rs 136 by 2030, reflects a post-dilution re-rating thesis.

The Bank of Maharashtra share price target of Rs 94.00 for 2027, rising to Rs 136 by 2030, reflects 10% annual earnings growth with a forward multiple consistent with Public Sector Bank peers. This article covers the Bank of Maharashtra share price target 2027, 2028, and 2030 based on FY26 financials and analyst estimates as of August 2026.

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Bank of Maharashtra Company Overview

Metric	Details
NSE Ticker	MAHABANK
Sector	Public Sector Bank
CMP (07 Aug 2026)	Rs 80.1
52-Week High	Rs 98
52-Week Low	Rs 50
Market Cap	Rs 64,809 Cr
FY26 EPS	Rs 9.8 (10% annual growth)
Promoter Holding	86.46%
12M Consensus	₹74 (-7%)
Bank of Maharashtra Share Price Target 2027	Rs 94.00 (+17%)
Bank of Maharashtra Share Price Target 2028	Rs 106 (+32%)
Bank of Maharashtra Share Price Target 2030	Rs 136 (+70%)
Bull Case 2030	Rs 174
Bear Case 2030	Rs 103

What most investors miss: Bank of Maharashtra is a structural quality outlier among PSU banks with consistently the highest CASA ratio (approximately 50 percent) and sector-leading ROE of 22.6 percent. The GoI stake at 86.46 percent is far above SEBI's 75 percent cap, mandating a large OFS. The CMP already trades above the 12-month consensus, which means the re-rating must wait for the OFS overhang to clear.

Assuming approximately13% annual earnings growth off a FY26 base EPS of ₹9. 8 and a fair multiple of approximately8x (moderating to approximately10% growth long-term), the stock's valuation trend points to the figures above. The share price targets of Rs 94.00 for 2027, Rs 106 for 2028, and Rs 136 for 2030 are derived from this earnings trajectory and peer multiples.

Why Is the Bank of Maharashtra Share Price Target Set at Rs 94.00 for 2027

Highest CASA Ratio in PSU Banking Drives NIM Superiority

This is the foundational driver of the Bank of Maharashtra share price target of Rs 94.00 for 2027 and Rs 136 by 2030. Assuming approximately13% annual earnings growth off a FY26 base EPS of ₹9.8 and a fair multiple of approximately8x (moderating to approximately10% growth long-term), the stock's valuation trend point. The market will progressively price this as quarterly data confirms the trajectory.

Sector-Leading 22.6 Percent ROE Reflects Genuine Operational Excellence

Investors analysing the Bank of Maharashtra share price target should track this dimension quarterly, as it provides the clearest signal of whether the compounding thesis is on track. Evidence of sustained improvement in this area is the primary re-rating catalyst for the Bank of Maharashtra share price target 2028 of Rs 101.

Lowest NPA in PSU Banking Pack Reduces Provisioning Drag

This structural factor is often underweighted in standard Bank of Maharashtra share price target analyses, which focus on trailing earnings multiples rather than the competitive positioning embedded in the long-term franchise value. Its persistence through economic cycles is what differentiates the Bank of Maharashtra share price target 2030 case from a short-term trading call.

Mandatory GoI Dilution Is a Known and Finite Supply Overhang

For the Bank of Maharashtra share price target of Rs 136 to materialise by 2030, this factor needs to remain intact and compound over 4 years. Quarterly updates on this metric provide the earliest warning signal of any deviation from the Bank of Maharashtra share price target base case assumptions.

Maharashtra Economic Growth Drives Regional Corporate Loan Demand

As India's economy compounds through 2027 to 2030, this factor provides an additional secular tailwind that is layered on top of the Bank of Maharashtra-specific earnings growth already embedded in the Rs 94.00 target for 2027 and the Rs 136 target for 2030.

Bank of Maharashtra Share Price Targets 2027, 2028 and 2030

Bank of Maharashtra Share Price Target 2027: Rs 94.00

The Bank of Maharashtra share price target 2027 is Rs 94.00, representing approximately 17 percent upside from CMP Rs 80.1. Assuming approximately13% annual earnings growth off a FY26 base EPS of ₹9.8 and a fair multiple of approximately8x (moderating to approximately10% growth long-term), the stock's valuation trend points to the figures above. Street consensus (1-yr) si. By 2027, the key catalyst for achieving this level is validation of the earnings trajectory through 2 consecutive quarters of on-target performance.

Bank of Maharashtra Share Price Target 2028: Rs 106

The Bank of Maharashtra share price target 2028 is Rs 106, implying approximately 32 percent upside from CMP. By 2028, Bank of Maharashtra should have demonstrated through a full earnings cycle that the 10% growth assumption is sustainable, supporting a re-rating toward the Bank of Maharashtra share price target 2028 level at a forward multiple consistent with sector peers.

Bank of Maharashtra Share Price Target 2030: Rs 136

The Bank of Maharashtra share price target 2030 is Rs 136, implying approximately 70 percent upside from CMP and a 4-year CAGR of approximately 14% from current levels. By 2030, Bank of Maharashtra should be a mature, well-understood franchise with a track record of consistent compounding that justifies the target multiple.

Bull Case and Bear Case for the Bank of Maharashtra Share Price Target 2030

Bull Case: Rs 174

The bull case Bank of Maharashtra share price target of Rs 174 by 2030: Rs 165 by 2030, if the GoI OFS is absorbed smoothly by FY27, PE re-rates to 11x post-dilution, and Maharashtra's economic growth accelerates loan demand, sustaining ROE above 20 percent.

Bear Case: Rs 103

The bear case Bank of Maharashtra share price target of Rs 103 by 2030: Rs 105 by 2030, if the mandatory GoI OFS creates protracted supply pressure, suppressing the PE at 5 to 5.5x even on improving fundamentals.

Scenario	Target by 2030	Return	Key Assumption
Bull Case	Rs 174	+117%	Upside scenario with favourable execution and sector conditions
Base Case	Rs 136	+70%	10% EPS CAGR; peer-multiple sustained through FY31
Bear Case	Rs 103	+29%	Downside scenario with adverse execution or macro headwinds

Key Risks to the Bank of Maharashtra Share Price Target

Credit Cycle Risk and NPA Deterioration

Any economic slowdown or sector-specific stress could elevate credit costs and provisioning, directly reducing reported PAT and the earnings base that supports the Bank of Maharashtra share price target. Investors should track quarterly GNPA and credit cost trends as the primary early warning indicators.

Interest Rate and NIM Sensitivity

Changes in RBI repo rate, inflation, and deposit competition affect the net interest margin that drives the Bank of Maharashtra share price target earnings trajectory. A sustained low-rate environment could trigger CASA outflows that compress NIM below projections.

Regulatory and Governance Overhang

As a regulated financial institution, Bank of Maharashtra is subject to RBI guidelines on capital adequacy, provisioning, and dividend policy. Any adverse regulatory change or governance concern could trigger a re-rating of the multiple below the level assumed in the Bank of Maharashtra share price target.

Competition From Larger Peers and Fintechs

Larger private banks and fintech lenders are competing aggressively in Bank of Maharashtra's target market segments. Market share losses would slow loan book growth and compress the earnings trajectory behind the Bank of Maharashtra share price target 2030.

How to Invest in Bank of Maharashtra

Use the Univest Screener to track Bank of Maharashtra's key financial metrics including EPS growth, margin trends, and analyst upgrades or downgrades in real time. To purchase shares, open a demat account with any SEBI-registered broker and search for NSE ticker MAHABANK. Review the quarterly earnings data, the sector-specific risk indicators outlined in this article, and build a position size proportionate to your risk tolerance and investment horizon. Monitor each quarter for the key variables most likely to move the Bank of Maharashtra share price target. Consult a SEBI-registered financial advisor before making any investment decision.

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Conclusion

The Bank of Maharashtra share price target of Rs 94.00 for 2027, Rs 106 for 2028, and Rs 136 for 2030 reflects 10% annual earnings compounding and a forward multiple consistent with Public Sector Bank peers. The key drivers and risks are outlined above. Bank of Maharashtra is a structural quality outlier among PSU banks with consistently the highest CASA ratio (approximately 50 percent) and sector-lea. For investors with a 3 to 4 year horizon and a tolerance for Public Sector Bank-specific risk, the current CMP of Rs 80.1 offers a starting point for building a position aligned to the Bank of Maharashtra share price target 2030 thesis. Always verify data at NSE and BSE before investing.

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Frequently Asked Questions on Bank of Maharashtra Share Price Target 2027 2028 and 2030

What is the Bank of Maharashtra share price target for 2027?

Ans. The Bank of Maharashtra share price target for 2027 is Rs 94.00, representing approximately 17 percent upside from CMP Rs 80.1 as of August 2026. Please verify all data with the official NSE website before making any investment decision.

What is the Bank of Maharashtra share price target for 2030?

Ans. The Bank of Maharashtra share price target for 2030 is Rs 136, implying approximately 70 percent upside from CMP Rs 80.1. This is based on analyst estimates and is not a guaranteed return. Always verify current data at NSE India before investing.

Is Bank of Maharashtra a good long-term investment?

Ans. Bank of Maharashtra has a defined analyst consensus that projects earnings compounding through FY31 based on sector-specific growth drivers outlined in this article. Whether it suits your portfolio depends on your risk appetite, investment horizon, and existing allocation. Consult a SEBI-registered financial advisor for personalised guidance.

What do most investors miss about Bank of Maharashtra?

Ans. Structural quality outlier among PSU banks – consistently the highest CASA ratio (approximately50%) and among the lowest GNPA/NNPA in the pack, driving a sector-leading 22.6% ROE; note the CMP (Rs 84) already trades at/above most 12-month street targets (Rs 68-84), i.e. the market is pricing it ahea

What is the bull case for the Bank of Maharashtra share price target 2030?

Ans. The bull case Bank of Maharashtra share price target for 2030 is Rs 174. This requires better-than-base-case execution on the key growth drivers specific to Bank of Maharashtra's sector, as described in this article. These are analyst projections, not guaranteed returns.

What are the main risks to the Bank of Maharashtra share price target?

Ans. The key risks to the Bank of Maharashtra share price target include sector-specific headwinds such as credit cycles (for financial companies), regulatory changes, competitive pressure, and macroeconomic slowdown. Please review the risks section of this article for a full breakdown of the four most material risks.

What is Bank of Maharashtra's 52-week high and low share price?

Ans. As of August 2026, Bank of Maharashtra's 52-week high is approximately Rs 98 and the 52-week low is approximately Rs 50. The CMP of Rs 80.1 sits between these levels. Always verify the latest 52-week data at NSE India or BSE before making any investment decision.

How can I buy Bank of Maharashtra shares?

Ans. You can buy Bank of Maharashtra shares through any SEBI-registered broker by searching for the NSE ticker MAHABANK. Before investing, review the fundamentals outlined in this article and consult a SEBI-registered financial advisor for guidance aligned to your specific financial goals.