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Niara Tower C launch delay
View Risks →Aditya Birla Real Estate Limited — Q2 FY26
Aditya Birla Real Estate reported strong Q2 FY26 bookings of ₹890 crore, up 111% QoQ, driven by flagship projects Birla Niara and Birla Alia.
bullish
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Aditya Birla Real Estate reported strong Q2 FY26 bookings of ₹890 crore, up 111% QoQ, driven by flagship projects Birla Niara and Birla Alia. Despite no new launches, operational traction remained healthy with 80% of total area sold. Management guided for a robust H2 launch pipeline with ₹13,900 crore GDV, including Pune, Gurugram, and Mumbai projects. Cash flow is expected to improve significantly with ₹2,000 crore collections anticipated by December, aided by milestone billings. The company is also pursuing ₹30,000 crore of business development opportunities. Key risks include potential delays in Niara Tower C launch and execution challenges from scaling construction to 35 million sq ft annually.
आदित्य बिड़ला रियल एस्टेट ने दूसरी तिमाही में 890 करोड़ रुपये की मजबूत बिक्री दर्ज की, जो पिछली तिमाही से 111% अधिक है। यह बढ़ोतरी उनके मुख्य प्रोजेक्ट्स बिड़ला नियारा और बिड़ला आलिया की वजह से हुई। कोई नया प्रोजेक्ट लॉन्च न होने के बावजूद, 80% एरिया बिक चुका है। कंपनी ने दूसरी छमाही में पुणे, गुरुग्राम और मुंबई में 13,900 करोड़ रुपये के नए प्रोजेक्ट लॉन्च करने की योजना बनाई है। दिसंबर तक 2,000 करोड़ रुपये की वसूली होने की उम्मीद है, जिससे नकदी प्रवाह बेहतर होगा। कंपनी 30,000 करोड़ रुपये के नए अवसरों पर भी काम कर रही है। हालांकि, नियारा टावर सी के लॉन्च में देरी और निर्माण क्षमता को सालाना 3.5 करोड़ वर्ग फुट तक बढ़ाने में चुनौतियां हो सकती हैं।
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Bookings
₹890 crore
+111% QoQ
Strong bookings in Q2 FY26 despite no new launches, driven by existing project sales.
Launch Pipeline GDV
₹13,900 crore
N/A
Estimated gross development value of launches planned for H2 FY26.
Total GDV
₹70,000 crore
N/A
Total gross development value across all projects, providing multi-year visibility.
Niara Tower B Sales
113 units out of 148
76% sold
Strong sales momentum in Niara Tower B, with 95% sold in Tower A.
Fast read
Guidance and risk preview
Management confirmed plans to launch projects worth ₹13,900 crore in H2 FY26, including Pune, Gurugram, and Mumbai.
Management acknowledged risk of delay to April if approvals are not received in time.
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