Aditya Birla Real Estate (500040) Q3 24/25 earnings summary

Executive summary

• Q3 FY25 consolidated turnover from continuing operations declined 4% year-on-year to ₹946 crore, with EBITDA at ₹18 crore and a net loss of ₹37 crore; for the nine months, turnover grew 18% year-on-year to ₹3,206 crore, EBITDA was ₹241 crore, and net profit was ₹3 crore.

• Real estate business saw strong performance with booking value up 257% year-on-year to ₹675 crore and collections up 175% to ₹501 crore; revenue for Birla Estates rose 117% year-on-year to ₹184 crore, driven by project deliveries.

• The company acquired a 70-acre land parcel in Boisar for its first plotted development and received major sustainability certifications for key projects.

• Board approved unaudited standalone and consolidated financial results for Q3 FY25 and nine months ended December 31, 2024, and approved sale of machineries from the discontinued textile plant at Jhagadia, Gujarat.

Financial highlights

• Q3 FY25 turnover was ₹946 crore, down 4% YoY; EBITDA was ₹18 crore, down 92% YoY; PAT was -₹37 crore, down 136% YoY.

• 9M FY25 turnover was ₹3,206 crore, up 18% YoY; EBITDA was ₹241 crore, down 45% YoY; PAT was ₹3 crore, down 98% YoY.

• Standalone Q3 FY25 sales: ₹820.79 crore, down from ₹933.03 crore YoY; nine months sales: ₹2,588.98 crore.

• Total net debt outstanding stood at ~₹4,317 crore as of December 31, 2024.

• Dividend per share was ₹4.0 for 9M FY25.

Outlook and guidance

• Six new project launches are planned for Q4, with a total expected launch value of ₹8,000 crore.

• Pre-sales guidance for FY25 remains at ₹7,000-8,000 crore, with confidence in achieving this through new launches and sustenance sales.

• Real estate revenue share is expected to increase over time, with no new capacity additions planned for pulp and paper.

• Pulp & Paper segment anticipates subdued Q4 due to competitive intensity and low-cost imports, but expects higher realizations in writing and printing paper.