Aditya Birla Real Estate Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Pulp & Paper - Discontinued Operations: 88.3% • Real Estate: 10.0% • Others: 1.7%
AI Sector View
AI GENERATEDRealty
Housing and construction indicators remain supportive for real estate. The housing index reached 105 (Mar/26), residential property prices rose 4.21% (Mar/26), construction output was 5.4% (Jul/26), and cement output accelerated to 13.1% YoY (2026-07). Bank lending rates are steady at 8.96% (Aug/26) rather than easing, but FPI flows turned positive with INR 1999 crore net inflow over 3 months to 2026-08-31 from INR -7216 crore previously.
PROS
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 2.40x)
- Company has a consistent dividend-paying track record
CONS
- Company is loss-making at the operating / net level
- Company has a high debt-to-equity of 1.54x
- Company has a low return on equity of -3.2% over last 3 years
- Company has a low return on capital employed of -0.9%
- Interest coverage is weak at -6.4x - earnings barely cover interest
- Operating cash flow has been negative in recent years
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| DLF | 643.60 | 35.83 | 159311.06 | 1.24 | 793.90 | -89.59 | 1280.34 | -52.87 | 6.81 | 49.68 |
| LODHA | 1113.00 | 26.96 | 111226.00 | 0.38 | 1373.10 | 103.39 | 4996.70 | 43.10 | 16.89 | 38.51 |
| PHOENIXLTD | 1891.15 | 52.85 | 67642.25 | 0.13 | 394.51 | 22.95 | 1074.94 | 12.80 | 15.41 | 59.77 |
| PRESTIGE | 1505.00 | 56.92 | 64824.90 | 0.13 | 271.40 | -12.87 | 2675.10 | 15.94 | 11.51 | 31.75 |
| OBEROIRLTY | 1747.40 | 24.16 | 63535.85 | 0.46 | 543.51 | 29.02 | 1300.89 | 31.73 | 17.69 | 56.75 |
| GODREJPROP | 1745.00 | 32.85 | 52564.02 | 0.57 | 349.38 | -41.61 | 506.17 | 16.48 | 8.37 | -57.98 |
| ANANTRAJ | 599.05 | 37.26 | 21558.43 | 0.17 | 149.19 | 18.50 | 631.40 | 6.58 | 12.23 | 29.53 |
| BRIGADE | 638.90 | 30.00 | 20844.71 | 0.24 | 216.94 | 37.35 | 1115.55 | -12.93 | 11.02 | 32.33 |
| ABREL | 1284.65 | 108.49 | 14348.99 | 0.19 | -34.59 | -27.73 | 188.85 | 30.95 | -4.54 | -30.02 |
| SOBHA | 1217.35 | 56.45 | 13020.02 | 0.49 | 50.85 | 273.37 | 1278.15 | 50.03 | 6.96 | 6.07 |
| SIGNATURE | 762.15 | 10.27 | 10722.39 | 0.00 | -16.53 | -148.00 | 551.99 | -36.24 | 34.77 | -8.10 |
| MAXESTATES | 560.60 | 793.00 | 9169.45 | 0.00 | 8.35 | -30.00 | 51.91 | 0.86 | 2.05 | 15.65 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 888 | 852 | 982 | 683 | 349 | 262 | 201 | 392 | 144 | 97 | 81 | 82 | 189 | |
| 754 | 808 | 873 | 610 | 308 | 239 | 222 | 420 | 185 | 168 | 170 | 243 | 287 | |
| Operating Profit | 134 | 44 | 109 | 73 | 41 | 22 | -22 | -28 | -41 | -71 | -89 | -161 | -98 |
| OPM % | 15.12% | 5.14% | 11.11% | 10.75% | 11.80% | 8.49% | -10.73% | -7.12% | -28.62% | -73.54% | -110.72% | -196.00% | -52.15% |
| 6 | 11 | 26 | 9 | 12 | 9 | 4 | -111 | 12 | 15 | -13 | 13 | 17 | |
| Interest | 6 | 10 | 8 | 10 | 11 | 15 | 8 | 12 | 7 | 18 | 19 | 21 | 26 |
| Depreciation | 50 | 51 | 53 | 15 | 16 | 16 | 16 | 16 | 16 | 16 | 18 | 18 | 17 |
| Profit before Tax | 91 | 4 | 162 | 188 | 30 | 5 | -38 | -163 | -51 | -88 | -139 | -186 | -83 |
| Tax % | 36.09% | 220.45% | 32.95% | 20.86% | 41.09% | 124.95% | 19.74% | 25.67% | 11.46% | 21.25% | 23.88% | 43.66% | 19.33% |
| Net Profit | 0 | 0 | 0 | 0 | 17 | 28 | -42 | -135 | -27 | -178 | -75 | 54 | -35 |
| 4.87 | -0.72 | 9.57 | 11.47 | 0.03 | -0.14 | -2.55 | -11.49 | -4.13 | -6.43 | -9.49 | -9.48 | -3.48 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 7,645 | 3,898 | 3,944 | 3,423 | 2,617 | 4,131 | 3,832 | 1,101 | 1,219 | 407 | 448 | |
| 6,714 | 3,093 | 2,992 | 2,859 | 2,393 | 3,686 | 3,263 | 858 | 1,189 | 766 | 868 | |
| Operating Profit | 930 | 805 | 951 | 565 | 224 | 445 | 569 | 243 | 30 | -359 | -420 |
| OPM % | 12.17% | 20.65% | 24.12% | 16.50% | 8.55% | 10.76% | 14.84% | 22.05% | 2.43% | -88.21% | -93.62% |
| 77 | 47 | 110 | 35 | 62 | 43 | 159 | 48 | -86 | 27 | 32 | |
| Interest | 553 | 212 | 102 | 87 | 71 | 52 | 34 | 30 | 46 | 64 | 83 |
| Depreciation | 313 | 199 | 193 | 229 | 231 | 231 | 196 | 59 | 64 | 68 | 69 |
| Profit before Tax | 141 | 440 | 766 | 284 | -17 | 205 | 496 | 180 | -179 | -477 | -496 |
| Tax % | 11.88% | 36.49% | 34.83% | -32.94% | 8.72% | 24.65% | 34.90% | 28.58% | 16.91% | 29.13% | 30.07% |
| Net Profit | 124 | 280 | 499 | 378 | -15 | 154 | 323 | 128 | -149 | -338 | -347 |
| EPS | 9.40 | 33.28 | 542.86 | 32.70 | -2.73 | 14.91 | 24.34 | 4.52 | -14.44 | -9.24 | — |
| Dividend Payout % | 58.51% | 19.53% | 1.38% | 9.17% | -36.69% | 26.83% | 20.54% | 110.52% | -13.85% | -27.05% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- —
- 5 Years:
- -31%
- 3 Years:
- -53%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
STOCK PRICE CAGR
- 10 Years:
- 14%
- 5 Years:
- 8%
- 3 Years:
- 8%
- 1 Year:
- -28%
RETURN ON EQUITY
- 10 Years:
- 5%
- 5 Years:
- 1%
- 3 Years:
- -3%
- Last Year:
- -9%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 112 | 112 | 112 | 112 | 112 | 112 | 112 | 112 | 112 | 112 |
| Minority Interest | 0 | 0 | 0 | 132 | 143 | 158 | 152 | 116 | 48 | -2 |
| 2,370 | 2,636 | 3,182 | 3,368 | 3,393 | 3,607 | 3,775 | 3,856 | 3,706 | 3,560 | |
| 5,901 | 5,280 | 1,799 | 2,086 | 1,714 | 1,952 | 1,629 | 3,000 | 5,120 | 5,675 | |
| Trade Payables | 706 | 682 | 519 | 493 | 621 | 858 | 786 | 732 | 827 | 661 |
| 1,248 | 1,621 | 563 | 493 | 656 | 995 | 1,950 | 2,600 | 6,466 | 9,779 | |
| Total Liabilities | 10,336 | 10,331 | 6,175 | 6,683 | 6,638 | 7,682 | 8,404 | 10,415 | 16,278 | 19,785 |
| 6,205 | 6,119 | 3,499 | 3,396 | 3,278 | 3,220 | 3,119 | 2,931 | 678 | 630 | |
| Capital Work in Progress | 34 | 34 | 44 | 140 | 173 | 174 | 190 | 57 | 24 | 18 |
| 258 | 223 | 183 | 107 | 238 | 409 | 228 | 692 | 1,085 | 1,512 | |
| 1,264 | 1,179 | 699 | 1,338 | 1,508 | 2,331 | 3,256 | 4,726 | 8,943 | 11,060 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 166 | 105 | 17 | |
| Cash & Bank | 89 | 250 | 59 | 119 | 125 | 66 | 151 | 402 | 1,001 | 1,399 |
| 2,485 | 2,526 | 1,692 | 1,584 | 1,316 | 1,482 | 1,460 | 1,442 | 4,443 | 5,150 | |
| Total Assets | 10,336 | 10,331 | 6,175 | 6,683 | 6,638 | 7,682 | 8,404 | 10,415 | 16,278 | 19,785 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 966 | 2,326 | 744 | 102 | 403 | 14 | 346 | -315 | -1,293 | 747 | |
| Cash from Investing | -247 | -195 | -123 | -241 | -92 | -176 | 138 | -524 | -438 | -588 |
| Cash from Financing | -175 | -1,795 | -677 | 392 | -471 | 207 | -553 | 1,272 | 2,218 | 299 |
| 518 | 219 | -253 | 128 | 4 | -21 | -144 | 433 | 487 | 458 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-04 - Aditya Birla Real Estate Limited has informed the Exchange about Schedule of meet with analysts/ investors
2026-09-03 - Aditya Birla Real Estate Limited has informed the Exchange about Schedule of meet
2026-09-03 - Aditya Birla Real Estate Limited has informed the Exchange that NSE Sustainability Ratings and Analytics Limited vide its ESG ratings report dated 2nd September 2026 has voluntarily assigned "ESG Rating-67" under aspiring category to the Company for FY2026.
2026-08-20 - Aditya Birla Real Estate Limited has informed the Exchange about Transcript of Q1FY2026-27 Earnings conference call held on 14th August, 2026
2026-08-19 - Aditya Birla Real Estate Limited has informed the Exchange about Copy of Newspaper Publication regarding Special Window - Re-lodgement for transfer and dematerialisation of physical securities.
2026-08-14 - Aditya Birla Real Estate Limited has informed the Exchange about ESG rating 'Crisil ESG- 60' voluntary assigned by Crisil ESG Ratings to the Company
2026-08-14 - Aditya Birla Real Estate Limited has informed the Exchange about Audio Recording of Earnings Call for Q1 FY2026-27
2026-08-14 - Aditya Birla Real Estate Limited has informed the Exchange about Copy of Newspaper Publication of Unaudited Financial Results for the quarter ended 30th June, 2026.
2026-08-13 - Aditya Birla Real Estate Limited has informed the Exchange about reaffirmation of Credit Rating by CRISIL Ratings
News
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