Aditya Birla Real Estate's Revenue skyrockets! Sales rate hits Rs. 186 crore

Aditya Birla Real Estate, which is supported by the Aditya Birla Group, recorded an increase in income for the October-December quarter of around Rs. 186 crore compared to approximately Rs. 86 crore during the same period last year. While revenues jumped by 175 percent to Rs. 501 crore over the same period, booking value for projects increased by a noteworthy 257 percent year over year to Rs. 675 crore.

In addition to conducting its real estate business through its subsidiary Birla Estates, Aditya Birla Real Estate (ABREL) also operates a paper and pulp firm and a textile company that it is currently closing down.

According to an investor presentation, the company sold 370,000 square feet of space in the quarter that ended on December 31. It also stated that, with the exception of the recently launched Birla Anayu project in Walkeshwar, which is the smallest of its ongoing projects, it has sold the majority of the inventory in its projects that have been launched thus far. The business announced that it has sold out 76% of the 1.8 million square feet of space that has been launched at Birla Niyaara, its largest ongoing project. According to corporate officials, Niyaara has the potential to generate up to Rs. 11,000 crore in income across its three phases.

The business has projected a gross development potential of around Rs. 48,000 crore for future real estate projects spanning 26 million square feet. These include initiatives in Bengaluru, Pune, the National Capital Region, and the Mumbai metropolitan area.

The company is completing preparations for the ten-acre Worli land block it purchased from Wadia Group chairman Nusli Wadia in Mumbai, which is its biggest market in terms of income. The business claims that that land has a potential booking value of up to Rs. 14,000 crore.

In addition to Greenfield initiatives and new stages of ongoing projects, the company has planned its first development project in the area, a plotted development project in Boisar.