The management of Aditya Birla Real Estate Ltd, formerly Century Textiles and Industries Ltd, said in a post-earnings call on October 22 that the company is planning to launch a residential project at Wellesley Road in Pune in the ongoing quarter. Launches are also being planned at Sarjapur Road in Bengaluru and at the recently-acquired plot from sister firm Hindalco in Thane, both in the January-March quarter.
Aditya Birla Real Estate Ltd conducts most of its real estate business through its subsidiary Birla Estates. The company declared its financial results on Tuesday, with the real estate operations reporting a booking value of Rs 1,412 crore during the quarter, while collections were Rs 644 crore, and its EBITDA was Rs 28 crore.
The company's management said during the earnings call that the Wellesley Road project has a development potential of Rs 1,050 crore, while that in the Sarjapur Road project is around Rs 2,700 crore. In the Thane project, the development potential may be around Rs 1,800 crore, the management said.
In the July-September quarter, the company bought a ten-acre land parcel in Worli from businessman Nusli Wadia for Rs 1,100 crore. During the call, Aditya Birla Real Estate's management said that the land has a development potential of around Rs 14,000-15,000 crore, and is planning to launch the first phase of a project on that land soon. In all, the company's management said that it holds land across cities that have a development potential exceeding Rs 40,000 crore.
As for future investments, the company's management pointed out that it has secured land with development potential worth Rs 21,000 crore, with an investment of around Rs 1,500 crore, and the company will continue its business development activity, be it outright purchases or joint development agreements.
In its existing projects, the company said that it plans to launch the final phase of the Birla Niyaara project in Worli in FY26, while sales at the existing phases are proceeding at a fair clip. According to the management, it sees "good chances" for a further appreciation in prices at Birla Niyaara, with current prices estimated at around Rs 90,000 per square foot.
Responding to investor questions on the recent name change of the company, the management said that it was intended to bring synergies with the wider Aditya Birla Group, as well as signal the pre-eminence of real estate in the company's future growth. It added that it has no immediate plans to demerge the company's other textiles and pulp and paper businesses.
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