Emkay Global Financial has issued a buy rating on Aditya Birla Real Estate with a target price of ₹1,750 in its research report dated August 24, 2026. According to the report, the brokerage believes the company is entering a strong business development phase, though improvement in pre-sales is likely to be visible only from FY28E. The recommendation is based on 6x EV/embedded EBITDA valuation, representing a 26% premium to the NAV.
The company has successfully rebuilt its balance sheet capacity and maintains significant visibility on project-level cash generation. As reported by Emkay Global, the ₹33 billion cash proceeds from the paper business sale materially strengthens its ability to pursue large projects. With one ₹26 billion GDV project already closed in the current year and several larger opportunities at an advanced stage, meaningful additions to the development pipeline are expected through FY27.
The current stock is trading at 1% premium to the NAV, according to Emkay Global's analysis. The brokerage maintains its buy rating on Aditya Birla Real Estate based on the company's strong fundamentals and growth prospects. The target price of ₹1,750 represents a significant upside potential from current trading levels, reflecting the company's improved business positioning and development pipeline expansion. Recent market data shows the stock has collections up 31% and the company is rolling out ₹9,500-crore housing projects.
