Aditya Birla Real Estate LimitedReal EstateABREL
Q1 FY26 concall · earnings callAditya Birla Real Estate Limited
Aditya Birla Real Estate reported robust collections and a landmark new redevelopment project, while a major divestment has nearly eliminated net debt, providing financial flexibility for future growth.
Numbers
| Metric | This quarter | Change | Five-quarter trend |
|---|---|---|---|
| Collection | ₹713 Cr | 31% | |
| Net Sales | ₹329 Cr | — | |
| Birla Taranya Booking Value | over ₹1,000 Cr | — |
Financials
From filed quarterly results. YoY and QoQ compare each metric on the same accounting basis.
| Quarter | Revenue | Net profit (PAT) | Basic EPS |
|---|---|---|---|
| Q3 FY25 | ₹956.70 Cr-24.8% YoY-15.2% QoQ | ₹-42.37 CrTurned loss-making YoYTurned loss-making QoQ | ₹-3.15Turned negative YoYTurned negative QoQ |
| Q2 FY25 | ₹1,127.56 Cr+2.2% YoY-1.9% QoQ | ₹2.82 CrTurned profitable YoY-83.7% QoQ | ₹1.09Turned positive YoY-33.9% QoQ |
| Q1 FY25 | ₹1,149.24 Cr+2.9% YoY-31.8% QoQ | ₹17.35 CrTurned profitable YoY-15.9% QoQ | ₹1.65Turned positive YoY-87.3% QoQ |
| Q4 FY24 | ₹1,685.88 Cr+39.5% YoY+32.5% QoQ | ₹20.64 Cr-85.5% YoY-74.2% QoQ | ₹12.98-0.2% YoY+72.4% QoQ |
| Q3 FY24 | ₹1,271.94 Cr+8.8% YoY+15.3% QoQ | ₹79.95 Cr+1080.9% YoYTurned profitable QoQ | ₹7.53+865.4% YoYTurned positive QoQ |
TL;DR
- Collections rose 31% YoY to Rs. 713 crores.
- Net sales were Rs. 329 crores, impacted by cancellations at Birla Niyaara, but units are being rebooked at higher prices.
- Birla Taranya achieved booking value over Rs. 1,000 crores within three months of RERA approval.
- Announced a new Vashi redevelopment project with ~Rs. 2,600 crores GDV and a 90% economic interest.
- Divestment of Century Pulp and Paper to ITC generated Rs. 3,325 crores, reducing net debt to nearly zero.
- Business development pipeline exceeds Rs. 60,000 crores GDV; target is Rs. 10,000-15,000 crores of BD in FY27.
Said on the call
“With a strengthened balance sheet and a resilient portfolio and continued customer confidence, we are well-positioned to pursue the opportunities ahead.”
From the Q&A
| Topic | What management said |
|---|---|
| Sales & Cancellations | Net sales of Rs. 329 crores were lower due to cancellations, mainly at Birla Niyaara; management stated cancellations are being rebooked at higher prices (e.g., Rs. 4 crores more per apartment). |
| Business Development (BD) Pipeline | Pipeline exceeds Rs. 60,000 crores GDV; target for FY27 is Rs. 10,000-15,000 crores. Management defended their 'prudent' pace, citing a focus on risk management, right location, and pricing over speed. |
| Vashi Redevelopment Project | New project has ~Rs. 2,600 crores GDV; ABREL has a 90% economic interest; expected margins are 25%-30% with launch targeted for Q2 FY28. |
| Post-Divestment Cash & Debt | Received Rs. 3,325 crores (95% of consideration) from ITC deal; net debt is now 'virtually zero', creating financial headroom for BD. |
| Medium-Term Guidance | Management reaffirmed confidence in achieving Rs. 15,000 crores in pre-sales over a three-year timeframe. |
| Commercial Real Estate | Planning to commence construction of ~1.3 million sq ft commercial space at Birla Niyaara this fiscal year, with potential annual leasing of ~Rs. 800 crores upon stabilization. |
| Construction Spend | Construction cost for Q1 was Rs. 226 crores; full-year guidance is Rs. 1,200-1,300 crores. |
Guidance
- Target Rs. 10,000-15,000 crores of business development (GDV) in FY27.
- Aiming for Rs. 15,000 crores in pre-sales over the next three years.
- Full-year construction cost expected to be Rs. 1,200-1,300 crores.
- Planning to launch the Vashi redevelopment project in Q2 FY28.
- Aim to commence construction of ~1.3 million sq ft commercial space at Birla Niyaara within FY27.
Source
Summary written from the transcript filed by Aditya Birla Real Estate Limited for the call held on 14 Aug 2026; published 20 Aug 2026, 16:31 IST.
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