ABREL / Q3-FY26 / claim-ledger

Audit the questions that mattered.

Aditya Birla Real Estate · Analyst questions, management answers, and the quality of the response where the ledger is available.

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PositiveQ3-FY26 · 2026-02-10Back to quarter ↗

Questions audited

12

Answered directly

79%

Numeric claims

1

Consistency

contradicted

Question ledger

What was answered, and how?

Karan Kana · Ambbit Capital

partial

Maintain FY26 sales guidance of 8,000 cr despite Miara phase 3 delay?

We continue with our optimism for the current year and have confidence about exceeding our last year's pre-sales target. We are on track for that. We are queuing up for several launches this quarter.

Karan Kana · Ambbit Capital

direct

Timelines for Q4 launches and risk of spillover?

We are awaiting the RAA for Sane and Aika new phase as well as for Boiser, which we're pretty confident that all these RAS should come to us in the first week of February. So there is a little chance of these launches not happening.

Karan Kana · Ambbit Capital

partial

Status of new BD announcements and 10-15,000 cr BD guidance?

We are very careful. We have several term sheets done and proposals at a very advanced stage. We're still hoping and pretty confident that we should be able to conclude deals in the region of about 10 to 15,000 crores this year before March.

Akash Gupta · Namura

partial

Confidence in FY27 growth to 150 billion without BD launches?

We have a strong BD pipeline. We also have a strong series of projects lined up for next year: new phases of Niara, Sriaya, Puna, Navia, Kane, NAM in Pune, and we may attempt to launch the India Humpai project in Delhi.

Akash Gupta · Namura

direct

Reason for 11% YoY decline in leasing income?

The properties are 100% occupied. There's a small reduction because some of the space occupied by our own company gets eliminated in consolidation. We have expanded some of our office space.

Hush Patak · MK Global

direct

Commercial portfolio ramp-up plans and rental target?

We are looking for a partner. We are progressing with design for Niara commercial project. We are looking to expand rental income from current 144 crores to at least 1,000 crores in the next four to five years.

Hush Patak · MK Global

direct

Progress on ITC deal and expected cash flow?

We have got CCI approval. We are awaiting transfer of lease of the land. We are very hopeful that in the next two months we should be able to close both issues and receive the money before the end of this year.

Rishit Sha · Access Capital

direct

Why increased GDV of Tane project from 1,700 to 2,700 cr?

We are seeing good prospects for Tane. We feel we can consider a higher launch area considering the prospects. The feedback is that we need to launch much more because there's so much demand.

Dshit Dhi · Whilestone Financial Advisors

direct

Why scaled down GDV of Birla Ara and Birla Puna projects?

For Ara, we wanted to keep one tower for redesigning to create exceptional returns. For Puna, we want to break it into phases to avoid multiple launches at the same time.

Taran Agraal · Old Bridge

direct

Margin profile and cash invested in 70,000 cr GDV projects?

Margins are in the range over 25 to 30%. Some own projects clock more than 40%. We have invested approximately 4,500 to 5,000 crores in land acquisitions and everything.

Akash Gupta · Namura

partial

Should we still hold 150 billion by FY28 guidance?

Given our current pipeline, GDV balance to launch, and confidence on continuing strong BD, we are reasonably confident that we'll be able to achieve that target.

Akash Gupta · Namura

partial

Operating cash flow this quarter and outlook for FY27?

We've got around 2,347 of collections and our overall project development related costs around 1,300. So we have a very strong cash positive cash flow in the 9 months.