Aditya Birla Real Estate Q2 Results: FY27 Revenue Watch

Q2FY27 results are scheduled for October 26

Aditya Birla Real Estate Ltd is scheduled to announce its financial results for the September quarter of FY27 on October 26, 2026. The company is among 98 firms expected to report second-quarter earnings on Monday, alongside REC, One 97 Communications, Tata Consumer Products, Mankind Pharma, Dalmia Bharat and APL Apollo Tubes.

The earnings announcement will be closely watched after a muted first quarter, when pre-sales were affected partly by cancellations at Birla Niyaara, Arika and other projects. The company said three of the four cancelled units had been rebooked and were being resold at higher prices.

Market estimates cited ahead of the result indicate a rise in consolidated net sales and a narrowing of net loss. These estimates are not reported results and will be confirmed only in the company’s financial disclosures.

Brokerages expect sales to rise sharply

The average of estimates from four brokerages indicates that consolidated net sales may rise about 131% year-on-year to ₹226 crore in the September quarter. This compares with ₹97.84 crore in the corresponding quarter a year earlier.

On a sequential basis, estimated net sales are nearly 20% higher than ₹189 crore. The highest sales estimate is ₹358 crore, from Motilal Oswal Financial Services, which implies year-on-year growth of 266%.

The reported expectation for stronger revenue is linked to a projected 53% increase in collections. Collections are significant for real estate companies because revenue recognition and cash conversion can differ from the pace of bookings or pre-sales.

Net loss is projected to narrow

The average brokerage estimate places consolidated net loss at ₹53.2 crore for the September quarter. That would compare with a loss of more than ₹71 crore in the year-ago period.

The projected loss would also be about ₹17.8 crore lower sequentially than the loss of more than ₹70.9 crore reported in the preceding quarter. The estimates point to an EBITDA loss of ₹36.87 crore, substantially lower than a ₹547 crore loss a year earlier.

EBITDA-loss estimates vary across brokerages, from ₹49.2 crore estimated by HDFC Securities to ₹18.1 crore estimated by Motilal Oswal Financial Services. The variation underlines that the final reported outcome will depend on the company’s recognised revenue, costs and other quarterly items.

First-quarter operating indicators were mixed

Aditya Birla Real Estate reported Q1FY27 pre-sales of ₹329 crore, down 22% year-on-year. This was markedly lower than ₹4,288 crore in Q4FY26, according to the available quarterly data.

However, collections increased 31% year-on-year to ₹713 crore. Leasing revenue rose 27% to ₹35 crore, while operating income increased 29.7% to ₹188.9 crore.

Total revenue for the first quarter stood at ₹205.7 crore, up 30.7% year-on-year. Separately, first-quarter results indicated revenue of ₹206 crore, up 41% from Q1FY26, and a net loss of ₹70.92 crore, widening 55% year-on-year.

Key financial and operating data

Launch pipeline provides medium-term visibility

Management has outlined a FY27 launch pipeline comprising six projects. Three are located in the Mumbai Metropolitan Region, one is in the National Capital Region and two are in Pune.

The aggregate gross development value of these planned launches is ₹9,600 crore. Most of the launches are scheduled for the third and fourth quarters of FY27.

The company has also stated that it aims to add projects with gross development value of ₹10,000 crore to ₹15,000 crore during FY27. Gross development value represents the potential value of a project and is distinct from reported quarterly revenue.

Vashi project adds to future development plans

Aditya Birla Real Estate acquired a redevelopment project in Vashi, in the Navi Mumbai micro-market. The project has gross development value potential of ₹2,600 crore, with a 90% company revenue share.

The Vashi project is expected to launch in FY28. Its timing means it is part of the company’s medium-term project pipeline rather than an immediate contributor to Q2FY27 revenue.

The company’s Birla Taranya project in Thane contributed ₹130 crore, or around 38% of quarterly sales, according to the available project update. This indicates the contribution of individual developments to quarterly sales can be meaningful.

Earlier quarterly comparison

For the July-September period of FY25, the company reported total income of ₹1,138.08 crore, compared with ₹873.70 crore in the corresponding period of the previous fiscal year. It also posted a profit of ₹3 crore for that quarter.

Those historical figures relate to an earlier reporting period and should not be directly compared with the current estimates without considering changes in project mix, accounting recognition and business structure. Still, they provide context for the company’s past quarterly disclosures.

The current Q2FY27 preview is centred on expected growth in net sales and a reduced loss after the weak first-quarter pre-sales performance. The October 26 announcement will provide the reported figures and management’s latest update on launches, collections and project execution.

What investors will track in the release

Investors will look for the reported level of revenue and sales against the ₹226 crore consensus estimate. The size of the net loss, EBITDA performance and progress in collections will also be important given the range of brokerage projections.

Updates on the six-project FY27 launch pipeline, particularly projects scheduled for the second half, will provide further clarity on the pace of planned development activity. Any disclosures on the Vashi redevelopment project and the rebooking of cancelled units may also help explain sales trends.

The Q2FY27 result is scheduled for October 26, 2026. Until the release is made, the sales, loss and EBITDA figures cited in market reports remain estimates rather than confirmed company results.