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Real estate developer Historical case study · data as of 22 Jul 2026 · published 25 Oct 2026 (95 days later)

Aditya Birla Real Estate — 100-point case study

How Aditya Birla Real Estate looked on 50 technical and 50 fundamental measures on 22 Jul 2026 — and what happened over the next three months. Education only; not a current view.

Codes	NSE: ABREL · BSE: 500040
Close on 22 Jul 2026	₹1,408.60
Market cap then	₹15,739 crore
Valuation	P/E -136.9× · P/B 4.25×
Momentum	RSI (14) 54 · 1-year return -34.1%
Next 3 months	-26.0% vs Nifty 50 -5.8% (to 23 Oct 2026)

Scorecard

Technical — 50 points

16 bullish · 23 neutral · 1 caution · 9 bearish — the picture leaned positive.

Fundamental — 50 points

2 bullish · 36 neutral · 1 caution · 10 bearish — the picture leaned negative.

Price chart

Close (to snapshot) Close (after) 50-day avg 200-day avg Support Resistance

Data note: Aditya Birla Real Estate (formerly Century Textiles) sold its pulp and paper business to ITC; the sale completed on 1 Aug 2026, after the snapshot. Screener shows pulp and paper as discontinued operations, so reported sales from FY24 onward are mostly real estate and are not comparable with earlier years. The company was loss-making, so P/E is not meaningful.

Technical analysis — 50 points

Calculated by code from daily prices up to 22 Jul 2026. Standard formulas (RSI, MACD, ADX use Wilder smoothing).

How to read the tags. Each of the 50 points gets one tag. Bullish the reading was favourable. Bearish the reading was unfavourable. Neutral the reading was in a normal range, or gave no clear message. Caution a warning sign or an unusual reading that deserves a closer look. Point 50 counts the other 49 tags. The chart is called positive when bullish tags beat bearish ones by 5 or more, negative when bearish tags beat bullish ones by 5 or more, and mixed otherwise. Under each point you will see what reading earns which tag. Tags describe the data on the snapshot date. They are not signals to buy or sell. Full guide to all 100 points →

A. Trend

#	Point	Reading	Tag	Commentary
1	Short-term trend (20 days)	slope +0.44%/day	Bullish	Over the last 20 sessions the regression line of closing prices was rising about 0.44% a day — a short-term uptrend. Bullish slope above +0.10% a day (short-term uptrend) · Bearish slope below –0.10% a day (short-term downtrend) · Neutral between the two: a flat, sideways phase.
2	Medium-term trend (~5 months)	3M return -1.4%	Bullish	The 100-session trend line was up (+0.13%/day) and the stock was -1.4% over three months, so the medium-term picture was bullish. Bullish slope above +0.05% a day · Bearish slope below –0.05% a day · Neutral in between.
3	Long-term trend (1 year)	1Y return -34.1%	Bearish	Compared with a year earlier the price was -34.1%. A weak year for the stock. Bullish up more than 10% in a year · Bearish down more than 10% in a year · Neutral between –10% and +10%.
4	Weekly chart trend	10W 1,326.57 / 30W 1,341.07	Neutral	On the weekly chart the stock showed a weekly close tangled between the 10-week and 30-week averages. Bullish weekly close above the 10-week average, which is above the 30-week · Bearish weekly close below the 10-week average, which is below the 30-week · Neutral when they are tangled.
5	Swing structure (highs/lows)	last highs 1,327.90→1,470.00; lows 1,229.10→1,155.00	Neutral	The two most recent swing points showed a higher high but a lower low — mixed structure. Bullish higher highs and higher lows (uptrend structure) · Bearish lower highs and lower lows (downtrend structure) · Neutral when one is higher and the other lower.
6	ADX (14) — trend strength	23.7	Bullish	ADX at 23.7 shows a trend of moderate strength. ADX measures strength only, not direction. Bullish ADX 20 or more with +DI above –DI (a real trend, pointing up) · Bearish ADX 20 or more with –DI above +DI (a real trend, pointing down) · Neutral below 20: no clear trend. 20–30 is a moderate trend, above 30 a strong one.
7	+DI vs –DI	+DI 20.3 / –DI 16.3	Bullish	+DI was above –DI: upward price pressure outweighed downward pressure. Bullish +DI above –DI · Bearish –DI above +DI · No neutral zone for this point.

B. Moving averages

#	Point	Reading	Tag	Commentary
8	Price vs 20-day SMA	1,401.69 (+0.5%)	Bullish	Close of 1,408.60 was 0.5% above the 20-day SMA — the short-term trend filter was positive. Bullish close above the average · Bearish close below the average · No neutral zone.
9	Price vs 50-day SMA	1,318.08 (+6.9%)	Bullish	Close of 1,408.60 was 6.9% above the 50-day SMA — the medium-term trend filter was positive. Bullish close above the average · Bearish close below the average · No neutral zone.
10	Price vs 200-day SMA	1,461.26 (-3.6%)	Bearish	Close of 1,408.60 was 3.6% below the 200-day SMA — the long-term trend filter was negative. Bullish close above the average · Bearish close below the average · No neutral zone.
11	9 / 21 EMA crossover	9E 1,427.07 / 21E 1,397.01	Bullish	The 9-day EMA was above the 21-day EMA; the last crossover happened on 22 Jun 2026. Bullish 9-day above 21-day · Bearish 9-day below 21-day · No neutral zone.
12	Golden / death cross (50 vs 200)	no cross in data window	Bearish	The 50-day average was 9.8% below the 200-day. No 50/200 crossover occurred in the data window. Bullish 50-day above 200-day (after a “golden cross”) · Bearish 50-day below 200-day (after a “death cross”) · No neutral zone.
13	50-day SMA slope	-1.5% in 20 sessions	Bearish	The 50-day average fell 1.5% over the past month — declining. Bullish rose more than 0.5% · Bearish fell more than 0.5% · Neutral in between: flattening.
14	MA ribbon alignment	1,402 / 1,318 / 1,309 / 1,461	Neutral	The 20/50/100/200-day averages were tangled — no clean order, typical of a transition or range. Bullish neatly stacked 20 > 50 > 100 > 200 · Bearish neatly stacked 20 < 50 < 100 < 200 · Neutral when tangled (a transition or range).
15	Monthly anchored VWAP	1,412.38 (-0.3%)	Bearish	Anchored to the start of July, the volume-weighted average price was 1,412.38; the close was below it — buyers that month were on average under water. Bullish close above VWAP (that month’s buyers on average in profit) · Bearish close below VWAP · No neutral zone.

C. Momentum

#	Point	Reading	Tag	Commentary
16	RSI (14)	54.0	Neutral	RSI at 54.0 was in the neutral 45–55 zone. Bullish RSI 55–70 (positive momentum, not stretched) · Bearish RSI 30–45 (soft momentum) · Neutral 45–55. Caution at 70 or above (overbought) or 30 or below (oversold).
17	RSI divergence (last 40 days)	none	Neutral	Comparing the last 20 sessions with the 20 before: no divergence — RSI moved in line with price. Bullish bullish divergence: price made a lower low but RSI a higher low · Caution for a bearish divergence (price higher high, RSI lower high). Neutral when RSI moved in line with price.
18	MACD line vs signal	MACD 33.99 / signal 35.14	Bearish	MACD was below its signal line — momentum turning or staying negative. Bullish MACD above signal · Bearish MACD below signal · No neutral zone.
19	MACD histogram (5-day change)	6.40 → -1.16	Bearish	The histogram fell over the last five sessions, meaning momentum was weakening. Bullish histogram rising (momentum improving) · Bearish histogram falling (momentum weakening) · No neutral zone.
20	MACD vs zero line	33.99	Bullish	MACD above zero means the 12-day EMA was above the 26-day EMA — a positive momentum regime. Bullish MACD above zero · Bearish MACD below zero · No neutral zone.
21	Stochastic (14,3,3)	%K 72.2 / %D 80.6	Bearish	Slow stochastic at 72.2 was mid-range with %K below %D. Bullish between 20 and 80 with %K above %D · Bearish between 20 and 80 with %K below %D · Caution above 80 (overbought) or below 20 (oversold).
22	Williams %R (14)	-45.7	Neutral	%R of -45.7 put the close in the middle of its 14-day range. How to read: Caution above –20 (near the top) or below –80 (near the bottom). Neutral in the middle. This point is never tagged Bullish or Bearish.
23	CCI (20)	34	Neutral	CCI at 34 was within the normal ±100 band. Bullish above +100 (unusually strong upward move) · Bearish below –100 (unusually strong downward move) · Neutral within ±100.
24	Rate of change (10-day)	+4.2%	Bullish	Price changed +4.2% over ten sessions. Bullish up more than 2% · Bearish down more than 2% · Neutral between –2% and +2%.

D. Volatility

#	Point	Reading	Tag	Commentary
25	Bollinger Band position (%B)	%B 0.54 (bands 1,307.33–1,496.05)	Neutral	%B of 0.54 — inside the bands, upper half. How to read: Caution above 1 or below 0 (outside the bands — an overextended move). Neutral inside the bands.
26	Bollinger width / squeeze	width 13.5% (10th pct of 6M)	Caution	Band width was at the 10th percentile of the last six months. A squeeze like this often precedes a larger move (direction unknown). How to read: Caution when the width is in the lowest 15% of six months (a “squeeze” that often comes before a bigger move, direction unknown). Neutral otherwise.
27	ATR (14)	₹48.01 (3.4% of price)	Neutral	A typical day's range was about ₹48.01, or 3.4% of the price — useful for judging how much 'normal noise' to expect. How to read: Information only. A higher % means bigger normal daily swings.
28	Historical volatility (30-day)	38.8% vs 1Y 39.1%	Neutral	Annualised 30-day volatility was 38.8%, close to the one-year level of 39.1%. How to read: Caution when 30-day volatility is more than 1.25× the one-year level. Neutral otherwise.
29	Keltner Channel (20, 2×ATR)	1,306.39–1,492.41	Neutral	The close was inside the channel, so no volatility breakout. Bullish close above the upper channel (strong upward push) · Bearish close below the lower channel · Neutral inside the channel.
30	Beta vs Nifty 50 (1Y daily)	1.56	Neutral	A beta of 1.56 means the stock tended to move more than the Nifty 50 day to day. How to read: Information only. Above 1.1 moves more than the market, below 0.9 less, around 1 in line.

E. Volume & money flow

#	Point	Reading	Tag	Commentary
31	Volume vs 20-day average	last day 0.46× / 5-day 0.67×	Neutral	The final session traded 0.46× its 20-day average volume and the last five sessions averaged 0.67× — lighter than usual participation. How to read: Information only. Above 1.2× is heavier than usual participation, below 0.8× lighter.
32	Up-day vs down-day volume (20d)	ratio 1.44	Bullish	Average volume on up days was 1.44× that on down days — accumulation-leaning. Bullish ratio above 1.15 (accumulation-leaning) · Bearish ratio below 0.85 (distribution-leaning) · Neutral between 0.85 and 1.15.
33	On-Balance Volume (20d)	OBV rising	Bullish	OBV rose over the month while price rose — volume confirmed the price move. Bullish OBV rising · Bearish OBV falling · No neutral zone.
34	Accumulation/Distribution line	rising (20d)	Bullish	The A/D line rose, meaning closes tended to be in the upper part of daily ranges on meaningful volume. Bullish A/D line rising · Bearish A/D line falling · No neutral zone.
35	Chaikin Money Flow (20)	0.15	Bullish	CMF at +0.15 indicated net inflows. Bullish above +0.05 (net inflows) · Bearish below –0.05 (net outflows) · Neutral between –0.05 and +0.05.
36	Money Flow Index (14)	55.0	Bullish	MFI, a volume-weighted RSI, was 55.0. Bullish MFI 55–80 · Bearish MFI 20–45 · Neutral 45–55. Caution above 80 (overbought) or below 20 (oversold).
37	Liquidity (avg daily turnover)	₹27 cr/day	Neutral	About ₹27 crore changed hands per day on average over 20 sessions — moderately liquid. How to read: Information only. Above ₹500 crore a day is highly liquid, above ₹50 crore liquid, below that moderately liquid.

F. Price levels

#	Point	Reading	Tag	Commentary
38	Support levels (S1/S2/S3)	1,382.00 / 1,335.60 / 1,229.10	Neutral	Nearest support (prior swing lows) sat at 1,382.00, 1.9% below the close, then 1,335.60, 1,229.10. How to read: Information only. Levels to watch, not good or bad.
39	Resistance levels (R1/R2/R3)	1,467.40 / 1,570.10 / 1,598.00	Neutral	Nearest resistance (prior swing highs) sat at 1,467.40, 4.2% above the close, then 1,570.10, 1,598.00. How to read: Information only.
40	Monthly pivot points (for next month)	P 1,400.73 \| R1 1,477.87 \| S1 1,331.47	Neutral	Classic pivots from July's high/low/close gave a pivot of 1,400.73; the close was above it. How to read: Information only.
41	Fibonacci retracement (6M swing)	23.6% 1,476 \| 38.2% 1,400 \| 50.0% 1,339 \| 61.8% 1,278	Neutral	Measuring the 6-month rise from 1,080.10 to 1,598.00, the close was nearest the 38.2% retracement at 1,400.16. How to read: Information only.
42	52-week high / low	H 2,237.00 / L 1,080.10	Neutral	The close was 37.0% below the 52-week high and 30.4% above the 52-week low. Bullish within 5% of the 52-week high · Bearish within 5% of the 52-week low · Neutral in between.
43	Unfilled price gaps (6M)	none	Neutral	No unfilled price gaps in the last six months. How to read: Information only.

G. Patterns

#	Point	Reading	Tag	Commentary
44	Price structure / chart pattern	rising channel	Bullish	Rule-based pattern scan: rising channel — successive higher highs and lows. (Classical patterns like head-and-shoulders are judgement calls; we report only what the rules detect.) Bullish rising channel (both trends up) · Bearish falling channel (both trends down) · Neutral for tight consolidation, a bounce in a downtrend, a pullback in an uptrend, or a sideways range.
45	Breakout / breakdown (20-day)	range 1,288.50–1,470.00	Neutral	The close was inside the prior 20-day range of 1,288.50–1,470.00. Bullish close above the 20-day high (breakout) · Bearish close below the 20-day low (breakdown) · Neutral inside the range.
46	Latest candlestick	Ordinary red candle	Neutral	On 22 Jul the candle opened 1,446.00, ranged 1,398.20–1,450.70 and closed 1,408.60: Ordinary red candle. Single candles are weak signals on their own. Bullish hammer, bullish engulfing or bullish marubozu · Bearish shooting star, bearish engulfing or bearish marubozu · Neutral for a doji, inside bar or ordinary candle. Single candles are weak signals.
47	Ichimoku Cloud	cloud 1,295.65–1,343.05; Tenkan 1,431.60 / Kijun 1,357.50	Bullish	Price was above the cloud and the Tenkan line was above the Kijun line — a bullish Ichimoku setup. Bullish close above the cloud · Bearish close below the cloud · Neutral inside the cloud.

H. Relative strength & summary

#	Point	Reading	Tag	Commentary
48	Relative strength vs Nifty 50	1M +7.7% / 3M +0.9%	Neutral	The stock outperformed the Nifty 50 by 0.9 points over three months and outperformed by 7.7 points over one month. Bullish ahead of the Nifty 50 by more than 2 points · Bearish behind by more than 2 points · Neutral within ±2 points.
49	Relative strength vs Nifty 50 (6M)	6M -2.5%	Bearish	No sector index in today's data set, so we show the 6-month comparison instead: 2.5 points behind the Nifty 50. Bullish ahead by more than 2 points · Bearish behind by more than 2 points · Neutral within ±2 points.
50	Technical summary	16 bullish · 9 bearish · 23 neutral · 1 caution	Bullish	Across the 49 readings the technical picture leaned positive. Levels that mattered: support 1,382.00, resistance 1,467.40. This is a description of the chart on 22 Jul 2026, not a forecast. How to read the score: the strongest possible reading is 49 bullish · 0 bearish, and the weakest is 0 bullish · 49 bearish. Most companies land in between. The chart is called positive when bullish tags beat bearish ones by 5 or more, negative when bearish tags beat bullish ones by 5 or more, and mixed otherwise. Even a 49–0 score describes the past and is not a reason to buy, and a 0–49 score is not a reason to sell. Bullish bullish tags beat bearish ones by 5 or more (“positive”) · Bearish bearish tags beat bullish ones by 5 or more (“negative”) · Neutral (“mixed”) otherwise. Strongest possible: 49 bullish · 0 bearish.

Fundamental analysis — 50 points

Uses only results published by 22 Jul 2026: FY26 annual (Apr 2025–Mar 2026), the Jan–Mar 2026 quarter and the Jun 2026 shareholding. ₹ crore, consolidated unless stated. Valuation uses the 22 Jul 2026 close.

How to read the tags. Each of the 50 points gets one tag. Bullish the reading was favourable. Bearish the reading was unfavourable. Neutral the reading was in a normal range, or gave no clear message. Caution a warning sign or an unusual reading that deserves a closer look. Point 50 counts the other 49 tags. The numbers are called positive when bullish tags beat bearish ones by 4 or more and are at least 1.5 times as many, negative the other way round, and mixed otherwise. Under each point you will see what reading earns which tag. Tags describe the data on the snapshot date. They are not signals to buy or sell. Full guide to all 100 points →

A. Valuation

#	Point	Reading	Tag	Commentary
1	P/E (trailing 12 months)	-136.9×	Neutral	At ₹1,408.60 the market valued the company at about ₹15,739 crore, or -136.9× the ₹-115 crore profit of the four quarters to Mar 2026. That is a low multiple in absolute terms. How to read: Information only. Below 15 is a low multiple, 15–30 moderate, above 30 a premium (the market expects growth). Compare with peers and the company’s own history.
2	Price / Book	4.25×	Neutral	Market cap was 4.25× the Mar 2026 book value (equity + reserves) of ₹3,701 crore. How to read: Information only. Main yardstick for banks; asset-light businesses usually trade at high P/B.
3	Price / Sales	38.58×	Neutral	The company was valued at 38.58× its trailing-12-month sales of ₹408 crore. How to read: Information only.
4	EV / EBITDA (approx.)	-57.3×	Neutral	Enterprise value (market cap + ₹5,636 cr borrowings; cash not netted) was -57.3× trailing operating profit of ₹-373 crore. How to read: Information only. Lower means cheaper relative to operating profit.
5	Earnings yield	-0.7%	Neutral	The inverse of P/E: each ₹100 invested bought about ₹-0.7 of annual earnings. Investors often compare this with the ~6–7% yield on 10-year government bonds. How to read: Information only. Often compared with the ~6–7% yield on 10-year government bonds.
6	PEG (P/E ÷ 3-yr profit CAGR)	n/m	Neutral	PEG is not meaningful because 3-year profit growth was not available. Note: the Mar 2025 quarter carried unusual other income of ₹-119 crore; the Mar 2026 quarter carried unusual other income of ₹129 crore — a one-off that distorts year-on-year profit comparisons. Bullish below 1 (growth cheaply priced) · Bearish above 2 (growth expensively priced) · Neutral 1–2, or when profit did not grow (not meaningful).
7	Dividend yield (trailing 12M)	0.18%	Neutral	Dividends with ex-dates in the 12 months to the snapshot totalled ₹2.5 a share, a 0.18% yield on the ₹1,408.60 price. Bullish above 3% · Neutral at 3% or less. Never tagged Bearish.
8	Market capitalisation	₹15,739 cr	Neutral	At about ₹0.16 lakh crore the company was a small-cap. How to read: Information only. Above ₹1 lakh crore large-cap, ₹30,000 crore–₹1 lakh crore mid-cap, below that small-cap (our rule of thumb).
9	Graham number vs price	n/m	Neutral	Not meaningful with negative earnings or book value. Bullish price below the Graham number · Neutral when the price is above it (most quality companies are).

B. Growth

#	Point	Reading	Tag	Commentary
10	Revenue growth FY26 (YoY)	-66.6%	Bearish	Revenue for FY26 was ₹407 crore, -66.6% versus FY25. Bullish above 10% · Bearish below 0% (revenue fell) · Neutral 0–10%.
11	Q4 FY26 revenue growth (YoY)	-79.0%	Bearish	The Jan–Mar 2026 quarter brought ₹83 crore of revenue, -79.0% on the same quarter a year earlier. Bullish above 10% · Bearish below 0% · Neutral 0–10%.
12	Net profit growth FY26 (YoY)	n/a	Neutral	FY26 net profit was ₹-115 crore, n/a on FY25's ₹-157 crore. Note: the Mar 2025 quarter carried unusual other income of ₹-119 crore; the Mar 2026 quarter carried unusual other income of ₹129 crore — a one-off that distorts year-on-year profit comparisons. Bullish above 10% · Bearish below 0% · Neutral 0–10%. Caution if a one-off item distorted the figure.
13	Q4 FY26 profit growth (YoY)	n/a	Neutral	Quarterly profit was ₹5 crore versus ₹-135 crore a year earlier (n/a). Note: the Mar 2025 quarter carried unusual other income of ₹-119 crore; the Mar 2026 quarter carried unusual other income of ₹129 crore — a one-off that distorts year-on-year profit comparisons. Bullish above 10% · Bearish below 0% · Neutral 0–10%.
14	Revenue CAGR (3 years)	-52.6%	Bearish	Revenue compounded at -52.6% a year from FY23 to FY26. Bullish above 12% a year · Bearish below 5% a year · Neutral 5–12%. Caution if an acquisition inflated it.
15	Profit CAGR (3 years)	n/a	Neutral	Not available. Note: the Mar 2025 quarter carried unusual other income of ₹-119 crore; the Mar 2026 quarter carried unusual other income of ₹129 crore — a one-off that distorts year-on-year profit comparisons. Bullish above 12% a year · Bearish below 5% a year · Neutral 5–12%.
16	Revenue CAGR (5 years)	-31.1%	Bearish	Over five years (FY21–FY26) revenue compounded at -31.1% a year. Bullish above 12% a year · Bearish below 5% a year · Neutral 5–12%.
17	EPS growth FY26 (reported)	n/a	Neutral	Not available. Note: the Mar 2025 quarter carried unusual other income of ₹-119 crore; the Mar 2026 quarter carried unusual other income of ₹129 crore — a one-off that distorts year-on-year profit comparisons. Bullish above 10% · Bearish below 0% · Neutral 0–10%.

C. Profitability

#	Point	Reading	Tag	Commentary
18	Operating margin FY26	-90%	Neutral	Operating profit (EBITDA) was -90% of sales in FY26 versus 1% in FY25. How to read: Information only — normal margins differ a lot by industry.
19	Operating margin trend (4 quarters)	-29% → -75% → -112% → -200%	Bearish	Quarterly margins moved from -29% to -200% over the last four quarters — contracting. Bullish up more than 1 percentage point · Bearish down more than 1 percentage point · Neutral when broadly stable.
20	Net profit margin FY26	-28.3%	Neutral	₹-28.3 of every ₹100 of revenue ended up as net profit in FY26. How to read: Information only.
21	Return on equity FY26	-3.0%	Bearish	FY26 profit was -3.0% of average shareholders' equity. Above ~15% is generally considered good; below 10% weak. Bullish above 18% · Bearish below 10% · Neutral 10–18%. Around 15% or more is generally considered good.
22	ROCE FY26	-4%	Bearish	Return on capital employed (debt + equity) was -4% in FY26. Bullish above 20% · Bearish below 10% · Neutral 10–20%.
23	Return on assets FY26	-0.57%	Neutral	Net profit was -0.57% of total assets. Bullish banks only: 1.5% or more · Bearish banks only: below 1% · Information only for non-banks.
24	Effective tax rate FY26	-55%	Neutral	The company paid about -55% of pre-tax profit as tax; India's base corporate rate is ~25%. How to read: Information only. India’s base corporate rate is about 25%.
25	Other income share of pre-tax profit	-97%	Neutral	Non-operating 'other income' of ₹246 crore made up -97% of pre-tax profit. How to read: Caution above 25% (headline profit leans on non-core income). Neutral otherwise.

D. Balance sheet

#	Point	Reading	Tag	Commentary
26	Debt / equity	1.52	Bearish	Borrowings of ₹5,636 crore were 1.52× equity — high leverage. Bullish below 0.3 (very low leverage) · Bearish above 1 (high leverage) · Neutral 0.3–1.
27	Debt / EBITDA	-15.32×	Bullish	Debt equalled -15.32 years of FY26 operating profit. Bullish below 1× · Bearish above 3× · Neutral 1–3×.
28	Interest coverage	-3.0×	Bearish	Earnings before interest and tax covered interest cost -3.0 times. Bullish above 8× · Bearish below 3× · Neutral 3–8×, or not meaningful when interest is negligible.
29	Book value growth	-3.6%	Bearish	Shareholders' equity grew -3.6% from ₹3,841 crore to ₹3,701 crore in FY26. Bullish above 10% (banks: above 12%) · Bearish below 0% (non-banks only) · Neutral otherwise.
30	Capital work in progress	₹19 cr (1% of fixed assets)	Neutral	Projects under construction (CWIP) were 1% of fixed assets — a modest pipeline. How to read: Information only. Above 20% means a big expansion pipeline that is not yet earning.
31	Working capital days	310 days	Neutral	Working capital tied up equalled 310 days of sales (FY25: 517). Negative means suppliers/customers fund operations. How to read: Information only. Lower is generally more efficient; negative means suppliers or customers fund the business.
32	Cash conversion cycle	15 days	Neutral	It took 15 days to turn inventory and receivables into cash, net of supplier credit. How to read: Information only. Shorter is generally better.
33	Debtor days	15 (FY25 31)	Neutral	Customers took 15 days on average to pay, versus 31 a year earlier. How to read: Caution when debtor days rose more than 20% in a year (collections stretching). Neutral otherwise.

E. Cash flow

#	Point	Reading	Tag	Commentary
34	Operating cash flow FY26	₹747 cr	Bullish	The business generated ₹747 crore of operating cash in FY26 versus ₹-1,293 crore in FY25. Bullish positive and higher than the year before · Bearish negative · Neutral when positive but lower. Information only for banks.
35	Free cash flow FY26	n/a	Neutral	Free cash flow line not available on source page. Bullish positive · Bearish negative · Neutral when not available.
36	Cash conversion (CFO ÷ net profit)	-6.50×	Caution	Operating cash flow was -6.50× reported profit — cash lagged profits; worth watching. Bullish above 1× (profits well backed by cash) · Caution below 0.7×. Neutral 0.7–1×.
37	Free-cash-flow yield	n/a	Neutral	Not available. Bullish above 4% · Neutral at 4% or less.
38	Free cash flow — 3-year total	n/a	Neutral	Not available. Bullish positive total · Bearish negative total · Neutral when not available.
39	Capex FY26 (CFO – FCF)	n/a	Neutral	Not available. How to read: Information only.

F. Dividends & shareholder returns

#	Point	Reading	Tag	Commentary
40	Dividend payout ratio FY26	-27%	Neutral	The company paid out about -27% of FY26 profit as dividends. How to read: Information only. High payout suits mature businesses; growing firms often keep more.
41	Dividend consistency (3 years)	111% / -14% / -27%	Neutral	Payout ratios for FY24 / FY25 / FY26 — dividends were irregular. Bullish paid every year · Neutral when irregular. Never tagged Bearish.
42	Share capital change (FY25→FY26)	+0.0%	Neutral	Paid-up equity capital changed +0.0% (₹112 cr → ₹112 cr). Essentially unchanged — no dilution. Bullish fell 1% or more (a buyback) · Caution when it rose 1% or more (new shares issued). Neutral when unchanged, or for a bonus/split.

G. Ownership

#	Point	Reading	Tag	Commentary
43	Promoter holding	50.21% (+0.00 pts YoY)	Neutral	Promoters owned 50.21% at Jun 2026 versus 50.21% a year earlier. Bearish fell more than 1 percentage point in a year · Neutral otherwise. Never tagged Bullish.
44	Foreign institutional holding	9.26% (+0.15 pts YoY)	Neutral	FIIs held 9.26% at Jun 2026, up from 9.11% a year before. Bullish up more than 1 percentage point · Bearish down more than 1 percentage point · Neutral within ±1 point.
45	Domestic institutional holding	16.63% (-0.11 pts YoY)	Neutral	Mutual funds, insurers and other DIIs held 16.63%, down from 16.74%. Bullish up more than 1 percentage point · Bearish down more than 1 percentage point · Neutral within ±1 point.
46	Number of shareholders	1.0 lakh (-9.2% YoY)	Neutral	The shareholder count moved from 1.1 lakh to 1.0 lakh in a year — a rough gauge of retail interest. How to read: Information only — a rough gauge of retail interest.
47	Promoter pledge	none reported	Neutral	Our source showed no pledged promoter shares. How to read: Information only. Any sizeable pledge is a risk to note.

H. Quality & summary

#	Point	Reading	Tag	Commentary
48	Financial health checklist (Piotroski-style, 8 tests)	5/8	Neutral	Passed: positive operating cash flow, CFO > net profit, leverage fell, ROA improved, no meaningful dilution (<3%). Failed: positive profit, operating margin improved, asset turnover improved. Bullish all tests passed, or all but one · Bearish half the tests or fewer passed · Neutral in between.
49	Automated screen flags	1 strength(s) · 5 weakness(es)	Neutral	Strengths: Company has been maintaining a healthy dividend payout of 23.2%. Weaknesses: Stock is trading at 3.15 times its book value; Company has low interest coverage ratio; The company has delivered a poor sales growth of -31.1% over past five years; Company has a low return on equity of -1.25% over last 3 years; Company might be capitalizing the interest cost. (Flags generated by the data source’s rule screen.) How to read: Information only.
50	Fundamental summary	2 bullish · 10 bearish · 36 neutral · 1 caution	Bearish	On the numbers published by 22 Jul 2026 the fundamental picture leaned negative. Valuation: P/E -136.9×, P/B 4.25×. This describes the data, not a recommendation. How to read the score: the strongest possible reading is 49 bullish · 0 bearish, and the weakest is 0 bullish · 49 bearish. Most companies land in between. The numbers are called positive when bullish tags beat bearish ones by 4 or more and are at least 1.5 times as many, negative the other way round, and mixed otherwise. Even a 49–0 score describes the past and is not a reason to buy, and a 0–49 score is not a reason to sell. Bullish bullish tags beat bearish ones by 4 or more and are at least 1.5× as many (“positive”) · Bearish the same the other way round (“negative”) · Neutral (“mixed”) otherwise. Strongest possible: 49 bullish · 0 bearish.

News in the three months before the snapshot

Company news from 22 Apr 2026 – 22 Jul 2026 that an investor could have known on the snapshot date.

06 May 2026 Aditya Birla Real Estate reports Q4 FY26 results; booking value Rs 4,288 crore, up 69% QoQ — Q4 FY26 booking value was Rs 42,882 mn (FY26: Rs 81,363 mn) and Q4 collections Rs 9,937 mn (FY26 collections Rs 33,409 mn, up 23% YoY). Consolidated net profit was Rs 5.39 crore vs a loss of Rs 135.20 crore a year earlier; consolidated total income fell to Rs 98.19 crore as pulp and paper was classified as discontinued operations. A final dividend of Rs 2.50 per share was recommended. source
07 May 2026 ABREL Q4 FY26 earnings call: no formal FY27 sales guidance; Rs 15,000 crore target may slip to FY29 — Management said FY26 pre-sales were Rs 8,136 crore and collections Rs 3,341 crore on 5.5 mn sq ft sold. It declined to give FY27 guidance citing approval-timeline uncertainty, mentioned a Rs 9,000 crore+ launch pipeline, construction spend of about Rs 1,200 crore, and said the Rs 15,000 crore pre-sales target earlier set for FY28 could slip to FY29. source
13 May 2026 Aditya Birla Real Estate outlines redevelopment entry and Rs 60,000 crore BD pipeline in Q4 update — Q4 FY26 update cited launches of Birla Arika Phase 2, Birla Taranya and Birla Trimaya Phase 4, a first redevelopment project in Khar with GDV potential of Rs 1,700 crore, and a business development pipeline of about Rs 60,000 crore (about Rs 35,000 crore in MMR). source
29 Jun 2026 Aditya Birla Real Estate fixes 14 July 2026 record date for Rs 2.50 final dividend; AGM on 27 July — Exchange intimation stated a final dividend of Rs 2.50 per share (25%) for FY26, subject to shareholder approval, with record date Tuesday 14 July 2026 and the 129th AGM on Monday 27 July 2026. source
30 Jun 2026 Aditya Birla Real Estate shares up 1.5%; stock gained 7.6% over past month — The stock rose 1.52% to Rs 1,333.05 while the BSE Realty index gained 0.59%. Over the past month the stock rose 7.58% vs 2.98% for the Sensex; the 52-week low was Rs 1,080.10 on 16 March 2026. source

What happened next (22 Jul 2026 → 23 Oct 2026)

Price went from ₹1,408.60 to ₹1,042.40 by 23 Oct 2026 (-26.0%) while the Nifty 50 moved -5.8% — underperforming by 20.2 points.
Highest ₹1,486.00 on 24 Aug 2026; lowest ₹1,002.30 on 09 Oct 2026.
S1 1,382.00: broken on a closing basis on 24 Jul 2026.
S2 1,335.60: broken on a closing basis on 02 Sep 2026.
R1 1,467.40: not cleared on a closing basis.
R2 1,570.10: not cleared on a closing basis.
200-day SMA: price was below it at the snapshot and crossed above on 20 Aug 2026.
Apr–Jun 2026 results (reported 13 Aug 2026): revenue ₹189 crore (+29.5% YoY), net profit ₹-35 crore (n/m — loss or no profit a year earlier YoY), operating margin -30% vs -29% a year earlier (Screener consolidated figures).

Later news

01 Aug 2026 Aditya Birla Real Estate completes sale of Century Pulp and Paper to ITC — The company completed the slump sale of its Pulp and Paper undertaking to ITC Limited as a going concern on 1 August 2026. Shareholders had approved the sale on 30 July 2025 and the business transfer agreement was signed on 31 March 2025. source
11 Aug 2026 Crisil reaffirms AA/Stable rating, removes rating watch — Crisil reaffirmed Crisil AA/Stable on long-term bank facilities and NCDs and Crisil A1+ on short-term facilities and the Rs 1,000 crore commercial paper programme, removing the 'Rating Watch with Developing Implications'. Rated bank facilities total Rs 2,569 crore and NCDs Rs 1,000 crore. source
13 Aug 2026 Aditya Birla Real Estate Q1 FY27: consolidated net loss Rs 34.59 crore; total income up 30.7% YoY — Consolidated total income was Rs 205.72 crore vs Rs 157.41 crore a year earlier. The consolidated net loss was Rs 34.59 crore vs a loss of Rs 27.08 crore in Q1 FY26 (loss from continuing operations Rs 66.96 crore, profit from discontinued operations Rs 32.37 crore). The board also approved the ABREL ESOP Scheme 2026. source
13 Aug 2026 Birla Estates enters Navi Mumbai with Vashi redevelopment project — Wholly owned subsidiary Birla Estates will redevelop Shiv Sai Co-operative Housing Society in Vashi on about 3.06 acres, with expected revenue of about Rs 2,600 crore. source
14 Aug 2026 ABREL Q1 FY27 earnings call: collections Rs 713 crore, up 31% YoY — On the Q1 FY27 call, collections were reported at Rs 713 crore vs Rs 445 crore a year earlier; Birla Taranya booked over Rs 1,000 crore within three months of RERA approval; net debt was described as near zero after the pulp and paper divestment. source
07 Oct 2026 Aditya Birla Real Estate shares hit fresh 52-week low — The stock touched a 52-week low of Rs 1,012.10; the report said no company-specific catalyst was established. source

Educational summary. On 22 Jul 2026 the technical picture leaned positive and the fundamental picture leaned negative. Over the next three months the stock moved -26.0% against -5.8% for the Nifty 50. Here the chart's message did not line up neatly with what followed — a reminder that indicators describe the past, not the future. One case proves nothing on its own; the value is in seeing many cases over time. This page does not say whether to buy, sell or hold Aditya Birla Real Estate today.

Method designed by our founder, CPA · ACCA · CIA. Numbers are computed by our engine from the sources listed below.

Sources: daily prices — Yahoo Finance history pages; financials and shareholding — Screener.in (fetched 25 Oct 2026); index — Nifty 50 via Yahoo Finance; news — linked articles. Calculations by Manage Our Finance. Report a correction

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