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Earnings Call Transcript

Aditya Birla Real Estate Earnings Call Transcript: Key Takeaways

Management focused on asset monetization and debt reduction after selling the pulp/paper business. While bookings were dampened by cancellations at Birla Niara, the balance sheet reached near-zero net debt, enabling a pivot toward premium Mumbai redevelopment.

Guidance and delivery
Management target Revenue 3 years
Highlights
Revenue growthCollections up 31% YoY; net bookings hit by cancellations.
MarginsTargeting 25-30% margins on new Vashi and redevelopment projects.
Order book₹60,000 Cr BD pipeline; ₹9,600 Cr launches planned for FY27.
Demand visibilityStrong premium demand in Mumbai; NCR and Bengaluru markets seen heating.
Management confidenceExtremely confident, emphasizing 'prudence' over aggressive growth compared to peers.

Growth

Collections grew 31% YoY to ₹713 Cr; however, net sales were muted due to high-value cancellations.

Outlook

Management maintains a 3-year pre-sales guidance of ₹15,000 Cr and ₹10,000-15,000 Cr BD target for FY27.

Risks

High cancellations at flagship Birla Niara project and heavy dependence on M-M-R redevelopment approvals.

Last quarter's promises, checked

Delivered

  • Guided Q4 FY26 launch of Birla Taranya → Delivered ₹952 Cr sales (= BEAT)
  • Guided Q4 FY26 launch of Birla Arika Phase 2 → Delivered 97% inventory sold (= BEAT)
  • Guided Q4 FY26 launch of Birla Punya Phase 2 → Delivered ₹250 Cr sales (= BEAT)

Partly delivered

  • Guided ₹15,000 Cr sales by FY28 → Management now suggests slip to FY29 (= PARTIAL)

Missed

  • Guided Niyaara Tower C launch H1 FY27 → Delayed to Q2/Q3 FY27 (= MISS)
Source

Earnings Call Transcript filed with BSE, NSE: ABREL. Summary written with AI assistance from the document.

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Aditya Birla Real Estate Ltd: key numbers

Share price
₹1,230.90
Market cap
₹13,749 Cr
Revenue (annual)
₹407.2 Cr
Net profit (annual)
₹-103.2 Cr
P/E (TTM)
-118.2×Sector 35.8×
Promoter holding
50.21%+0.00% QoQ
FII holding
9.26%Current quarter

Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.

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