Aditya Birla Real Estate (500040) Q4 24/25 earnings summary

Executive summary

• FY2025 marked a landmark year with significant business reorganization, including the board-approved divestment of the pulp and paper business to ITC for INR 3,498 crore and discontinuation of the textile division, sharpening focus on real estate and long-term value creation.

• Real estate business achieved record booking value of INR 8,087 crore in FY25, more than doubling year-over-year, with collections also doubling to INR 2,706 crore, driven by successful launches in NCR, Bengaluru, and Pune.

• Seven new projects/phases launched, including Birla Arika in NCR with sales over INR 3,100 crore; Pune market launch sold 75% of limited inventory.

• Brand visibility was elevated through strategic sponsorships and awards, notably the Golden Peacock National Quality Award and IPL partnership.

• Audited standalone and consolidated financial results for FY25 were approved, with an unmodified audit opinion issued by SRBC & CO LLP.

Financial highlights

• FY25 consolidated revenue from continuing operations rose 11% YoY to INR 1,219 crore; real estate revenue was INR 1,157 crore, up 11% YoY.

• Booking value more than doubled to INR 8,087 crore; collections up 100% to INR 2,706 crore year-over-year.

• PAT from continuing operations was a loss of INR 149 crore in FY25, compared to a profit of INR 128 crore in FY24; consolidated net loss for FY25 was ₹135.20 crore.

• Consolidated debt at INR 3,575 crore as of March 31, 2025; net worth around INR 3,900 crore.

• Board recommended a dividend of INR 2/share for FY25, down from INR 5/share in FY24.

Outlook and guidance

• Targeting annual pre-sales of over INR 15,000 crore within three years, nearly doubling from FY2025 levels.

• Planning launches worth INR 14,000 crore GDV in FY2026, with most launches stacked in Q3 and Q4.

• Focus remains on execution, business development, and expanding into redevelopment and commercial real estate.

• No major handovers expected in FY2026; significant deliveries anticipated from FY2028 onwards.

• Real estate market expected to maintain steady growth, driven by urbanization and demand for quality projects.