Aditya Birla Real Estate (ABREL) is targeting bookings of Rs 15,000 crore by FY28, with a compound annual growth rate (CAGR) of about 25%.
Birla Estates, ABREL’s subsidiary, did bookings of Rs 8,000 crore in FY25. ABREL registered a 61% growth in bookings year-on-year in Q1FY26.
Strong launch pipeline and geographic expansion
ABREL aims to launch projects with a gross development value (GDV) of around Rs 13,900 crore in FY26, the company said in the first-quarter earnings presentation. The launches are in Thane, Mumbai Metropolitan Region, National Capital Region, Bengaluru and Pune.
“Looking ahead, the company aims to scale across India’s top real estate hubs with a pre-sales target of Rs 15,000 crore in the coming years. This ambition is supported by ongoing investments in land acquisition, technology, brand building, and talent,” chairman Kumar Mangalam Birla said in the FY25 annual report.
In comparison, ABREL’s Mumbai peer Lodha Developers is targeting over Rs 46,000 crore in bookings in FY26 and FY27, representing a 43% increase from the previous two years.
ABREL recorded a 17x increase in residential booking value between FY20 and FY25, with FY25 bookings doubling over FY24. A CAGR of 77% over this five-year period places Birla Estates among the fastest-growing developers in the country, Birla said in the report.
Strategic partnerships and financial strength
ABREL looks at business development of Rs 15,000-20,000 crore annually, which will further strengthen its portfolio, Equirus Securities said last week.
ABREL currently has net debt of around Rs 3,950 crore and a net leverage ratio of around 1.03x. “Proceeds from the pulp and paper business divestment to ITC, likely to come in over the next 3-4 months, should reduce debt to around Rs 2,000 crore with a cash surplus of Rs 1,200-1,300 crore – effectively resulting in a net debt-free balance sheet,” the brokerage said.
With strong parentage, a credible brand, a healthy project pipeline, and a robust balance sheet, ABREL is well-positioned for long-term growth, it said.
During FY25, the company added projects with a combined GDV of more than Rs 25,000 crore.
The company launched a joint venture with Mitsubishi Estate for Birla Evara in Bengaluru, and signed agreements with the International Finance Corporation (IFC), part of the World Bank Group, for a $50 million (Rs 420 crore) investment in projects in Pune (Manjri) and Thane.
“The company has also begun evaluating redevelopment opportunities in high-potential urban corridors and is expanding its commercial portfolio to meet growing demand for integrated, future-ready spaces,” Birla said.