Aditya Birla Real Estate Ltd (ABREL)-owned Birla Estates has announced that the company's booking value for the financial year 2024-25 has reached Rs 8,000 crore, driven by its projects in Gurugram, as well as in Bengaluru. The reported booking value is higher by around twice that of the same figure in FY24, Birla Estates said in a release.
Birla Estates said in a release that it would aim to build on its FY25 performance in the ongoing financial year, with eight launches planned across its key markets- Mumbai, Pune, National Capital Region, and Bengaluru- for FY26. The company has a pipeline with a gross development value (GDV) exceeding Rs 60,000 crore.
"With an exceptional compounded annual growth rate of 77 percent from FY20 to FY25, we are among the fastest-growing real estate developers in India. Over the next few years, we aim to expand our business, establishing Birla Estates among the top players in key micro-markets across Mumbai, Pune, NCR, and Bengaluru," said KT Jithendran, managing director and CEO of Birla Estates, in a statement.
Birla Estates attributed the FY25 booking value increase primarily to Phase-I of the Birla Arika project in Gurugram, from which the company earned Rs 3,100 crore in booking value from the sale of 300 units. Sales were also driven by multiple launches in the Bengaluru market, the company said.
During FY25, the company made its debut in the Pune market, with a luxury project at Sangamwadi titled Birla Punya, which has a revenue potential of Rs 2,700 crore. Birla Estates has also continued to carry out construction at its flagship project, Birla Niyaara, at Worli, slated for delivery in the next two to three years, which has a revenue potential of over Rs 10,000 crore.
The company, earlier known as Century Textiles and Industries, has also taken steps to turn itself into a pure-play real estate player, selling its paper division to conglomerate ITC Ltd for Rs 3,498 crore.
On April 15, ABREL's shares closed 3.5 percent higher at Rs 1,848 on the National Stock Exchange.
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