The paper presents a method to estimate the rotor position, speed and load torque of the PMSM drive. Estimation is based on an extended dynamic model of the PMSM and is done using sequential observers. A first observer estimates the EMFs of the motor; these are used to compute the rotor position angle. The EMFs along with the angle are used as inputs to a second observer which estimates the speed and the load torque. The speed is obtained from an adaptive law. The paper presents the estimation mathematics and the gain design of the observers. It is shown that, under ideal conditions, the estimates of the speed and torque are accurate. Under parameter uncertainty or parameter variations, the adaptive speed estimate is still very accurate; the estimate of the load torque loses accuracy.