Aditya Birla Real Estate (500040) Q3 25/26 earnings summary

Executive summary

• Achieved robust operational momentum in Q3 FY26, with booking value of ₹25,361 Mn (up 276% YoY), collections of ₹12,899 Mn (up 157% YoY), and strong pre-sales driven by premium and luxury housing demand in MMR, NCR, Bengaluru, and Pune.

• Successful launches included Birla Praha (Gurugram, complete sell-out in 24 hours, INR 1,850 crores pre-sales) and Birla Awam (Pune), with 80% of launched area sold as of Dec 2025.

• Strategic divestment of Century Pulp & Paper to ITC Ltd. for €34.98 Bn to focus on core real estate business.

• Board approved unaudited standalone and consolidated financial results for Q3 and nine months ended December 31, 2025.

• Appointment of Mr. Keyur Shah as CFO effective March 1, 2026, following the retirement of Mr. Snehal Shah.

Financial highlights

• Q3 FY26 pre-sales: INR 2,536 crores (+276% YoY); collections: INR 1,290 crores (+157% YoY); consolidated total income at ₹903 Mn, EBITDA loss of ₹799 Mn, and PAT loss of ₹1,074 Mn from continuing operations.

• 9M FY26 pre-sales: INR 3,848 crores (+64% YoY); collections: INR 2,347 crores (+44% YoY); booking value for 9M FY26 at ₹38,481 Mn, collection value at ₹23,472 Mn.

• Standalone Q3 revenue from operations: ₹63.05 Cr; nine months: ₹197.06 Cr; standalone net profit for Q3: ₹44.05 Cr; nine months: ₹171.07 Cr.

• Consolidated Q3 revenue from operations: ₹80.79 Cr; nine months: ₹321.77 Cr; consolidated net loss for Q3: ₹75.31 Cr; nine months: ₹120.21 Cr.

• Leasing income declined 11% YoY due to internal consolidation of occupied space.

Outlook and guidance

• FY26 sales guidance of INR 8,000 crores maintained despite Niyaara Tower C launch delay to FY27.

• Confident of achieving INR 150 billion pre-sales by FY28, supported by a strong launch pipeline and business development activity.

• FY26 project launch pipeline includes 7.0 Mn sq ft with estimated GDV of ₹88,315 Mn; total project portfolio at 35.1 Mn sq ft with GDV of ₹703,154 Mn.

• Commercial rental income expected to grow from INR 144 crores to INR 1,000 crores annually over the next 4–5 years.

• Company is in the process of divesting its pulp & paper business and has discontinued textile operations.