Aditya Birla Real Estate Reports Strong Q2 Sales with Rs 889 Crore Booking Value

Aditya Birla Group-owned Aditya Birla Real Estate Ltd (ABREL) has reported a booking value of Rs 889.50 crore for the July-September quarter, with collections totaling Rs 512 crore. While the booking value and collections were lower year-on-year, the quarter generally saw reduced activity due to monsoons and slower construction.

Despite the challenging conditions, the company reported robust sales of Rs 320 crore in its flagship Birla Niyaara project in Worli, Mumbai, and around Rs 326 crore at the Birla Evara in Bengaluru's Sarjapur Road. These sales indicate a strong market presence and continued interest in ABREL's high-quality projects.

In an investor presentation, ABREL announced that it has received approval from the Maharashtra Real Estate Regulatory Authority (MahaRERA) for two projects in Pune: Birla Evam at Manjri and Birla Punya at Wellesley Road. The company has completed the launch of the first phase of the Punya project. For the ongoing financial year, ABREL has a launch pipeline of more than Rs 13,900 crore, showcasing its ambitious growth plans.

ABREL's key markets include Mumbai, Pune, Bengaluru, and the National Capital Region (NCR). The company, which operates primarily through its subsidiary Birla Estates, now has projects with a revenue potential of Rs 70,000 crore. These projects are strategically located, including developments on the Thane-Belapur Road, two plots in Worli, a project in Boisar, and two projects in the NCR at Mathura Road in Delhi and Sector 71 in Gurugram.

While ABREL continues to advance its major projects, the company's debt has increased, with gross debt reaching around Rs 5,500 crore at the end of Q2 FY25. The net debt stands at approximately Rs 4,226 crore. However, the firm maintains that its credit rating at both ABREL and Birla Estates levels remains stable and sound.

ABREL declared its results during market hours. On October 28, ABREL's shares closed 3.7 percent lower on the National Stock Exchange at Rs 1,690 apiece. Despite the short-term dip, the company remains confident in its long-term growth prospects and the potential of its ongoing and upcoming projects.