Aditya Birla Real Estate Ltd. share price target

We believe ABREL is entering a strong business development phase, although the improvement in pre-sales is likely to be visible only from FY28E.

Aditya Birla Real Estate (ABREL) reported pre-sales of INR3.3b in 1QFY27 (down 22% YoY, broadly in line), primarily due to the absence of new launches during the quarter.

Almost 50,000 crore pre-sales potential from overall project portfolio: The company has a robust pre-sales pipeline potential of 49,351 crore (out of the total portfolio size of 73,858 crore) comprising 7246 crore inventory in ongoing projects, 9596 crore FY27 pipeline and 32,509 crore from future pipeline of projects. The launch pipeline for FY27 of 9596 crore comprises Niyaara Tower C, Worli ( 4868 crore GDV in Q2FY27/Q3FY27), Taranya, Thane ( 1375 crore in Q3FY27), Khar redevelopment ( 1631 crore in Q4FY27), Navya, NCR ( 710 crore in...

Aditya Birla Real Estate (ABREL)’s 4Q presales dipped 24% YoY to INR42.9b; however, they were in line with our estimate.

We reinitiate coverage on Aditya Birla Real Estate (ABREL) with BUY and TP of Rs1,750, based on 6x EV/embedded EBITDA, at a 27% premium to the NAV (currently, the stock is trading at 6% discount to the NAV).

Launch heavy Q4FY26 to help surpass FY25 pre-sales bookings for FY26E: The company has a robust launch pipeline of 6,209 crore for Q4FY26. ABREL garnered strong response for projects launched during Q3FY26 (Pravaah sold out in 24 hours and Evam - ~35% inventory sold out in a month). For Q4FY26, launch pipeline includes Thane ( 2692 crore), Arika, NCR ( 1653 crore), Punya, Pune ( 821 crore), Trimaya, Bengaluru ( 763 crore) and balance phase of Evara, Bengaluru. The same is expected to help it surpass FY25 pre-sales ( 8088 crore, up 103% YoY) for FY26. For...

ABREL reported presales of INR25.4b in 3QFY26, up 276% YoY/185% QoQ (29% below estimates). In 9MFY26, presales were at INR38b, up 64% YoY. Only two projects out of four initially guided have been launched in 3Q with GDV of INR26.2b.

ABREL commenced operations in 2016 under the ‘Birla Estates’ division of its listed entity, Century Textiles. Following the divestment of legacy businesses such as textiles and pulp & paper, the company was rebranded as ‘Aditya Birla Real Estate Limited’ in Oct’24, emerging as a focused real estate platform.

New Business Development to be key monitorable for sustainable highgrowth: The company has yet not closed any new business development in FY26 till date, although it is in advance stages with respect to 30,000 crore GDV projects across its key geographies. It expects to close FY26 with 10,000-15,000 crore GDV additions. Currently, out of its total project portfolio size of ~ 69,900 crore, it has sold ~ 18,700 crore (27%) and left with ~ 51,300 crore sales potential (43% Worli and 19% Thane projects share). Owing to its concentrated large size projects in two key locations, we believe it would require new business developments at diversified...

Century Textiles & Industries Ltd Q3FY18 results comment Revenue rose by 11.85% to Rs. 2003.79 Cr in Q3FY18 when compared to the previous quarter

Revenue decreased by 0.27% to Rs. 2049.47 Cr in Q1FY18 when compared to the previous quarter Revenue decreased by 0.27% to Rs. 2049.47 Cr in Q1FY18 when compared to the previous quarter

Revenue grew by 16.58% to Rs. 2055.02 Cr in Q4FY17 when compared to the previous quarter

Revenue fell by 2.98% to Rs. 1762.81 Cr in Q3FY17 when compared to the previous quarter. Also, it fell by 5.87% when compared with Q3FY16