India · Delayed Price · Currency is INR Aditya Birla Real Estate Earnings Call Transcripts
Fiscal Year 2026
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Q4 FY26 saw record pre-sales and strong area sold, driven by robust launches across regions. FY27 will focus on a large launch pipeline, prudent BD, and continued strong cash flows, though guidance remains cautious due to regulatory and market uncertainties.
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Q3 FY26 saw record pre-sales and collections, driven by premium housing demand and successful launches in key markets. Guidance for FY26 and FY28 remains strong, with robust BD pipeline, healthy margins, and a comfortable debt position supporting future growth.
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Sales bookings surged 111% sequentially in Q2 FY26, with strong demand in luxury housing and robust launch pipeline ahead. Cash flow is set to improve with upcoming collections, and the company remains confident in achieving its FY26 targets.
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Q1 FY26 saw strong year-over-year growth in bookings and collections, with a focus on execution and a robust launch pipeline for the coming quarters. Strategic partnerships with IFC and Mitsubishi support long-term growth, ESG, and risk management, while cash flows remain healthy.
Fiscal Year 2025
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FY2025 saw booking value and collections more than double year-over-year, with revenue up 11%. Focus shifts to real estate after pulp and paper divestment, targeting INR 15,000 crore annual pre-sales in three years. Debt-to-equity is set to fall below 0.5 post-divestment.
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Q3 FY25 saw a 4% year-on-year revenue decline and a net loss, but nine-month turnover rose 18%. Real estate bookings and collections surged, with strong margins maintained and robust launches planned for Q4. Pulp and paper faced margin pressure from weak demand and high costs.
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Q2 FY25 saw 32% year-on-year revenue growth and strong real estate performance, with major land acquisitions and robust bookings. Management maintains FY25 pre-sales guidance, expects continued sector strength, and is focusing capital allocation on real estate, while pulp and paper faces ongoing challenges.
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Consolidated turnover rose 28% year-on-year, led by an 800% surge in real estate revenue, while EBITDA margin declined to 11%. The company targets INR 12,000 crore in new launches for FY25 and expects robust residential demand, despite challenges in the paper segment.