Horseman right, Mahmud above (in Arabic), Sri Hamirah ("Lord Amir") in Nagari to the right // Arabic inscription: Al-Sultan al-azam nasid ud-dunya wa ud-din in four lines. 14mm, 3.3 grams.  Mint of Delhi. Tye #405.

Mahmud Shah (reigned 1246–1266 CE) was a nominal Sultan of Delhi from the Mamluk (Slave) dynasty, also known as Nasir-ud-Din Mahmud. He ascended the throne as a young ruler but held little actual power, as the real authority was wielded by his powerful regent and father-in-law, Ghiyas ud-Din Balban, who served as naib (deputy) throughout most of his reign. Mahmud Shah was known for his piety, religious devotion, and interest in scholarship, rather than military or administrative affairs. His reign was relatively peaceful but marked by growing internal consolidation, largely due to Balban's strong control over the court and administration. After Mahmud Shah's death in 1266, Balban succeeded him and formally became Sultan, continuing the centralization of power that had begun during Mahmud’s nominal rule.