Aditya Birla Real Estate Ltd

- Current consolidated debt stands at Rs.3,575 crores with a net debt-equity ratio of about 0.92. - Post the sale of the paper business, Rs.2,000 crores of debt will be retired. - Approximately Rs.1,200-1,300 crores will remain in treasury for growth capital and acquisitions. - Any shortfall beyond treasury funds for acquisitions or growth capital may necessitate fresh borrowings. - No immediate plans for fresh debt, but future borrowings will depend on capital requirements. - Mitsubishi tie-up involved equity participation (not a loan) with a 51:49 share structure, indicating equity involvement. - Overall, funding is not expected to be a constraint, with a conservative approach to new borrowings.

- Post divestment of paper business, Aditya Birla Real Estate will have ~Rs.1,200-1,300 crores in treasury for growth capital and acquisitions. - Rs.2,000 crores of debt will be repaid from the proceeds of paper business sale. - Fresh borrowings may be done if treasury funds are insufficient for planned acquisitions or growth. - Planned launches amounting to Rs.14,000 crores GDV in FY26, largely in H2. - Investments made in key projects include about Rs.1,200 crores in Worli land acquisition, Rs.200 crores in Manjri, and other upfront investments totaling ~Rs.1,500 crores. - Exploration of redevelopment projects in Mumbai as asset-light deals. - Expansion into commercial real estate to develop annuity income streams. - Focus on sustainable green building practices influencing project design and investments.

- Aim to achieve Rs.15,000 crores in annual presales within the next three years, effectively doubling sales from FY25 levels. - Planned GDV launches of around Rs.14,000 crores across 8-9 projects mainly in H2 FY26, with some launches in Q2. - Strong growth momentum highlighted by doubling booking value to Rs.8,087 crores in FY25 and tripling units and area sold vs FY24. - Focused on expanding in key markets: Bengaluru, NCR, Mumbai, and Pune with robust pipelines and quality projects. - Pursuing business development deals valued between Rs.15,000 to Rs.20,000 crores annually, including entering the redevelopment sector. - Emphasis on execution quality, timely project delivery, and leveraging the trusted Birla brand. - Collections expected to grow strongly aligned with bookings and construction progress, though EBITDA in FY26 will be limited due to project accounting. - Exploring commercial real estate expansion to add annuity income streams.

- The company aims to achieve over Rs.15,000 crores in annual pre-sales within the next few years, nearly doubling current performance. - FY26 EBITDA is expected to be low due to no major project handovers; significant EBITDA generation anticipated in future years. - Collections and sales focus remains strong, supporting sustained revenue growth. - The launch of Rs.14,000 crores GDV across 8-9 projects planned in FY26, mainly in H2, indicating phased growth in earnings. - Growth capital from the paper business divestment (Rs.1,200-1,300 crores) will be deployed prudently with possible fresh borrowings for acquisitions. - Emphasis on being customer-centric and delivering quality, ensuring long-term profitable growth. - Redevelopment and commercial real estate expansions expected to diversify income streams and enhance profitability. - Prudent growth approach targeting sustainable EPS growth aligned with project completions and market cycles.

- The company plans to launch new projects worth approximately Rs.14,000 crores GDV in FY26, mainly in Q3 and Q4, plus sustenance inventory of about Rs.6,700 crores, totaling around Rs.20,000 crores of projects available for sale in the next 12 months. - Current order book/presales are strong, with a target to grow bookings to Rs.15,000 crores annually within three years. - Recent launches include a large project in Gurgaon with strong sales and a significant Bangalore project (Sarjapur) with bookings of over Rs.850 crores. - A healthy pipeline exists for future deals including large acquisitions and redevelopment projects in Mumbai. - Redevelopment and commercial real estate expansions are being explored to broaden revenue sources and sustain growth. - Overall, there is strong confidence in continued sales growth with a phased approach and disciplined deal selection.