Birla Estates is targeting business development worth ₹10,000-15,000 crore in FY27 and plans to launch residential projects with a gross development value (GDV) of ₹9,600 crore in the second half of the financial year, managing director and chief executive officer KT Jithendran told Business Standard.
The Aditya Birla Real Estate subsidiary plans to launch projects in Pune, the Mumbai metropolitan region (MMR) and the National Capital Region (NCR) during the third and fourth quarters of FY27. The company’s portfolio GDV stood at ₹73,900 crore at the end of FY26.
Birla Estates has not launched any new projects so far in FY27, while it reported bookings of ₹329 crore in the first quarter. The company is targeting annual bookings of ₹15,000 crore over the next three financial years. Its bookings in FY26 stood at ₹8,136.3 crore, having grown at a compound annual growth rate of 67 per cent between FY21 and FY26.
Jithendran said the company aims to maintain a pace of about two launches every quarter, although project launches across the industry are generally concentrated in the third and fourth quarters because of the festive and auspicious season. He also said approvals tend to be accumulated during the final two quarters of the financial year.
Over the past six months, beginning in March, Birla Estates added redevelopment projects in the MMR worth about ₹4,300 crore to its portfolio. The company said it would fund the capital expenditure required to execute planned projects from its equity base. Construction investments would largely be funded through customer receipts, according to Jithendran.
The executive said the company’s net debt was effectively nil after Aditya Birla Real Estate sold its pulp and paper business to ITC for roughly ₹3,498 crore. He said the transaction had provided the group with significant borrowing capacity and that the company’s equity base remained strong, with the available capital expected to support planned acquisitions.
Pune is a particular focus for the developer. Birla Estates plans to launch the next phases of its Birla Punya and Birla Evam projects in the city during the fourth quarter of FY27, with a combined GDV of about ₹1,012 crore. Pune is one of the company’s four core markets, alongside MMR, Bengaluru and NCR.
The company said Pune’s real-estate market was supported by its education sector, expanding intra-city metro and road connectivity, proximity to Mumbai, information technology and manufacturing activity, and the availability of developable land. Jithendran said Birla Estates was evaluating additional micro-markets and would consider outright acquisitions and joint developments.
The total GDV of Birla Punya and Birla Evam is ₹5,631 crore. Birla Estates has launched inventory worth ₹2,084 crore across the two projects and recorded bookings of ₹1,116 crore as of June 30, 2026. Homes at Birla Evam were being sold at about ₹10,500 per square foot of carpet area, while prices at Birla Punya were around ₹20,000 per square foot.
Jithendran said profitable growth, deeper presence in the company’s four established markets and stronger construction execution capabilities were its main strategic priorities. He added that profits from real estate projects would be recognised when completed phases or projects were delivered, rather than through the percentage-of-completion method.
The company’s planned launches in Pune, MMR and NCR are scheduled for the third and fourth quarters of FY27, subject to project approvals and execution timelines.
