In a post-earnings call held on October 22, the management of Aditya Birla Real Estate stated that the company is planning to launch a residential project in Pune in the current quarter.
Launches of a project on Sarjapur Road, Bangalore and Thane are also in the pipeline. Both of it would be launched in the January-March quarter.
Aditya Birla Real Estates Ltd conducts its business mostly through Birla Estates which is its subsidiary. According to the financial results released on Tuesday by the company, a booking value of Rs. 1412 cr was recorded by the real estate operations. On the other hand the collections were of Rs. 644 Crores. The EBITDA was of around Rs. 28 Crore.
During the earnings call, Aditya Birla Real Estate said that the development potential of the Wellesley Road, Pune’s project is Rs.1050 cr. The potential of Sarjapur Road is Rs. 2700 cr and the Thane project’s potential is around Rs. 1800 cr.
The Aditya Birla Real Estate has bought a land parcel of 10 acres from the businessman Nusli Wadia in the July-September quarter in Worli. It is of worth Rs.1100 cr. According to the management of the company, this land has a development potential of Rs.14000 to Rs.15000 Cr. The first phase of the project will be launched on the land soon.
With Rs.1,500 Cr investment in securing land for the future, the company has estimated to invest Rs. 21,000 Cr for property development. The company will continue to develop its business through joint development agreements and outright purchases.
Amongst the existing projects, the Aditya Birla Real Estate plans to launch Birla Niyaara’s initial phase in the FY26. The existing phases sales are progressing in a good pace too. In accordance with the company’s management they predict further price appreciation at Birla Niyaara. The price for the same is around Rs. 90,000 sq ft. currently.
