Aditya Birla Real Estate (ABREL) is the Birla Estates-branded real estate developer with a portfolio GDV of about Rs. 70,315.4 Cr across 35.1 msf, reporting into a residential market where Mumbai registrations hit a 14-year September high but its own bookings are launch-timing dependent. This print will speak to the accounting recognition of the Rs. 3,498 Cr ITC/Century Pulp and Paper divestment completed August 1, 2026, and whether Q2 booking value stays light with most FY27 launches slotted for Q3/Q4.
| Results date | October 26, 2026 |
|---|---|
| Quarter | Q2 FY 2026-2027 |
| Previous quarter revenue | Rs. 205.72 Cr (consolidated total income) |
| Previous quarter PAT | Rs. (34.59) Cr (consolidated net loss) |
| Net debt (latest quarter) | Nearly zero (post-ITC divestment) |
| Market cap | Rs. 12,269.77 Cr |
| CMP | Rs. 1,098.5 |
The board of Aditya Birla Real Estate Limited meets on October 26, 2026, to consider the audited financial results for the quarter and half year ended September 30, 2026 (Q2 FY 2026-2027).
The dominant event this quarter is the accounting recognition of the Rs. 3,498 Cr Century Pulp and Paper slump sale to ITC, completed August 1, 2026, which will drive reported PAT, net worth (Rs. 3,699.20 Cr at FY26-end) and the 'nearly zero' net-debt claim, while the discontinued-ops earnings cushion of Rs. 32.37 Cr PAT in Q1 ends from Q2 onwards. Q1 FY27 bookings collapsed to Rs. 329 Cr (-92.33% QoQ vs Q4 FY26's Rs. 4,288.2 Cr) on launch timing, and with most FY27 launches slotted for Q3/Q4 and about Rs. 9,600 Cr of launches planned for FY27 weighted to H2, the quarter's booking value is likely to stay light against FY26's Rs. 8,136 Cr full-year run-rate. Collections are the healthier line — Q1's Rs. 713 Cr was up 31% YoY — to watch against the ~Rs. 750 Cr per half construction-cost guide. Management has reframed the Rs. 15,000 Cr pre-sales target as 'Rs. 15,000 crores in three years' time' after flagging at Q4 FY26 that the FY28 target may slip to FY29, and the October repo hike to 5.50% is a fresh affordability factor for H2 bookings.
ITC/CPP divestment accounting in Q2: The Rs. 3,498 Cr slump sale completed August 1, 2026, with accounting impact deferred to this quarter.
Q2 booking value and launch pipeline
Collections vs construction spend
Continuing-ops loss trajectory
Q1 FY27 booking value was Rs. 329 Cr, down 92.33% QoQ versus Q4 FY26's Rs. 4,288.2 Cr, a launch-timing effect with most FY27 launches slotted for Q3/Q4. Collections were healthier at Rs. 713 Cr, up 31% YoY.
Management has reframed the target as 'Rs. 15,000 crores in three years' time', reaffirmed on the Q1 FY27 call, after flagging at Q4 FY26 that the FY28 target may slip over to FY29. FY26 pre-sales guidance of Rs. 8,000 Cr was met with Rs. 8,136 Cr booked.
The Rs. 3,498 Cr slump sale of Century Pulp and Paper to ITC completed on August 1, 2026, and its accounting impact is to be recognized in Q2 FY27. The discontinued-ops earnings cushion (Rs. 32.37 Cr PAT in Q1, +60% YoY) ends from Q2 onwards, and net debt has been reduced to nearly zero post-divestment.