Mumbai, India: Aditya Birla Real Estate has reported a significant turnaround in its financial performance for the second quarter of the financial year 2024-25. The company posted a net consolidated profit after tax of Rs 2.82 crore, a stark contrast to the net loss of Rs 32.87 crore recorded in the corresponding quarter of the previous fiscal.
The company’s total income surged by 30.26% to Rs 1,138.08 crore in Q2 FY25 compared to Rs 873.70 crore in the same period last year. This growth was driven by increased revenue from real estate development and sales. As of September 30, 2024, Aditya Birla Real Estate’s financial position remained strong. The company’s net worth stood at Rs 4,107.33 crore, and its debt-equity ratio was a healthy 1.16. The company also demonstrated sound financial management with a current liability ratio of 0.60 and a total debts to total assets ratio of 0.34.
During the quarter, the company made significant acquisitions to bolster its land bank and expand its development pipeline. Aditya Birla Real Estate acquired ownership rights for a 10-acre land parcel in Worli, Mumbai, with a gross development value (GDV) of Rs 14,000 crore. Additionally, the company acquired five acres of land parcel in Gurugram with a GDV of Rs 1,400 crore. The company’s strong financial performance and strategic land acquisitions position it well for future growth. Aditya Birla Real Estate is poised to capitalize on the growing demand for real estate in India and deliver value to its shareholders and stakeholders.
