Aditya Birla Real / Q2-FY26

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Positive2025-10-30Back to ADITYABIRLAREALESTATE

Revenue

₹97.84 Cr

verified against source

Revenue YoY

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EBITDA

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Revenue (₹ Cr)PositiveWatchNegative
2 actual records
Actual quarterly Revenue (₹ Cr) trajectoryReported values plotted by quarter. Hover or focus a point for its quarter, value, and source sentiment.Q2 FY26: 97.8 · Positive source sentiment · 2025-10-30Q2 FY26Q3 FY26: 81.2 · Positive source sentiment · 2026-02-10Q3 FY2697.881.2
Values are taken from the available verified source records; sentiment color is a separate source-read indicator.

Quarter read

What the record says.

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.

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Guidance to track

  • Management confirmed plans to launch projects worth ₹13,900 crore in H2 FY26, including Pune, Gurugram, and Mumbai.
  • Management expects cumulative collections of ₹2,000 crore by December, driven by milestone billings.
  • Management aims to finalize BD deals worth ₹10,000-15,000 crore GDV before the end of the financial year.
  • Management expects to launch Niara Tower C in Q4 FY26, subject to approvals.

Risks flagged

  • Management acknowledged risk of delay to April if approvals are not received in time.
  • Rapid scaling from 1 million sq ft to 35 million sq ft construction may strain operational capabilities.
  • Net debt increased by ₹280 crore in Q2 due to milestone mismatches and pre-launch spending.
  • Increased supply in Mumbai luxury segment could impact pricing power for Niara Tower C.

Key quotes

  • We had a very strong bookings for the quarter of rupees 890 crores up by 111% against the previous quarter.
  • Our launch pipeline for the remainder finance year 26 remain robust with an estimate gross development value of rupees 13,900 crores.
  • We expect a solid cash flow collection about 2,000 crores in this quarter.

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