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View Claim Ledger →Aditya Birla Real Estate Ltd — Q4 FY26
Aditya Birla Real Estate delivered an exceptional Q4 FY26 with pre-sales of ₹4,288 crore (up 69% QoQ) and area sold of 3 million sq ft (up 75% QoQ), driven by strong new launches across NCR, Mumbai, Bangalore, and Pune.
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Aditya Birla Real Estate delivered an exceptional Q4 FY26 with pre-sales of ₹4,288 crore (up 69% QoQ) and area sold of 3 million sq ft (up 75% QoQ), driven by strong new launches across NCR, Mumbai, Bangalore, and Pune. Full-year pre-sales reached ₹8,136 crore with collections of ₹3,341 crore. The company has a GDV pipeline of ₹72,000 crore and is pursuing BD opportunities worth ₹60,000 crore. Management refrained from giving FY27 guidance due to approval uncertainties but expects strong sustenance sales. Key risks include potential launch delays from regulatory approvals and geopolitical impacts on buyer liquidity.
Promises0 met · 2 missedRisks4 trackedTranscriptfull text
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Launch delays due to approvals
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Read Transcript →Quarter Snapshot
Pre-sales Q4 FY26
₹4,288 crore
+69% QoQ
One of the strongest quarters to date, driven by new launches.
Area sold Q4 FY26
3 million sq ft
+75% QoQ
Reflects robust demand across all regions.
Full-year pre-sales FY26
₹8,136 crore
+23% YoY
Strong annual performance despite lumpy launches.
BD pipeline GDV
₹60,000 crore
N/A
Pipeline includes MMR (35k), NCR, Bangalore, Pune; conversion uncertain.
What Changed vs Last Quarter
NEW
FY27 construction spend ~₹1,200 crore
Pure construction spend expected to be around ₹1,200 crore, up from ₹924 crore in FY26.
NEW
ITC deal expected to close in Q1 FY27
Transaction with ITC progressing; state-level approvals pending, expected completion this quarter.
NEW
Commercial construction start in FY27
At least one commercial project (Worli/Century) construction to commence this year.
DROPPED
FY26 pre-sales guidance of ₹8,000 crore to be exceeded
Management expressed confidence in exceeding the ₹8,000 crore pre-sales target for FY26 despite the delay of Niara Tower C.
DROPPED
BD deals worth ₹10,000-15,000 crore GDV by March 2026
Management aims to conclude business development deals totaling ₹10,000-15,000 crore in GDV before March 31, 2026.
DROPPED
Commercial rental income target of ₹1,000 crore in 4-5 years
Management targets expanding annual rental income from current ₹144 crore to ₹1,000 crore over the next 4-5 years.
DROPPED
Revenue recognition of ~₹650 crore from Deralakatte in FY27
Management expects to recognize approximately ₹650 crore in revenue from the Deralakatte project in Bangalore in FY27.
NEW RISK
Launch delays due to approvals
Key launches like Niara Tower C may slip to Q3 FY27 due to regulatory approvals (environmental/NGT).
NEW RISK
Geopolitical impact on buyer liquidity
Middle East tensions affected cash flow for buyers, leading to flexible payment plans; could persist.
NEW RISK
BD conversion uncertainty
Despite ₹60,000 crore pipeline, BD conversion is lumpy; management unable to quantify FY27 additions.
NEW RISK
Cost escalation from supply chain
Oil prices and supply disruptions may increase construction costs; contingency buffers may be insufficient if situation worsens.
RISK GONE
Approval delays impacting launch timelines
Niara Tower C delayed to FY27 due to Supreme Court case and approval issues; other launches face RERA clearance risks.
RISK GONE
BD deal closure uncertainty
Despite a strong pipeline, no BD deals were closed in Q3; management acknowledged that deals may fail due diligence.
RISK GONE
Supply pressure in Mumbai micro-markets
Analyst raised concern about potential supply influx from projects previously stalled due to EC clearance issues.
RISK GONE
Leasing income decline due to consolidation
Leasing income fell 11% YoY in 9M FY26 due to elimination of inter-company occupancy, though properties remain 100% occupied.
Fast read
Guidance and risk preview
Pure construction spend expected to be around ₹1,200 crore, up from ₹924 crore in FY26.
Key launches like Niara Tower C may slip to Q3 FY27 due to regulatory approvals (environmental/NGT).
View Risks →