Intimation regarding Reaffirmation of Company''s Credit Rating by CRISIL Ratings

REAL ESTATE SH/XIl/068/2026-27 13th August, 2026 Corporate Relationship Department Listing Department BSE Limited National Stock Exchange of India Limited 01st Floor, Phiroze Jeejeebhoy Towers Exchange Plaza, 05th floor, Dalal Street, Fort, Bandra-Kurla Complex Mumbai-400 001. Bandra (East), Mumbai-400 051. Scrip Code: 500040/975967 /975968 Scrip Code: ABREL Dear Sir/ Madam, Sub: Intimation regarding Reaffirmation of Credit Rating of Aditya Birla Real Estate Limited ('the Company') Ref: Regulation 30 and 51 of the Securities and Exchange Board oflndia (Listing Obligations & Disclosure Requirements) Regulations, 2015 ('Listing Regulations') and SEBI Master Circular HO/49/14/14(7)2025-CFD PODZ/I/3762/2026 dated 30th January 2026 ('SEBI Master Circular') Pursuant to the Listing Regulations, this is to inform you that Crisil Ratings has reaffirmed 'Crisil AA/Stable' ratings for existing Non-Convertible Debentures and Long-Term Loan facilities and 'Crisil Al+' ratings for existing Commercial Paper and Short-Term Loan Facilities of the Company. A copy of Crisil rating rationale is attached. The above is also made available on the Company's website: www.adityabirlarealestate.com. This is for your information and record. Thanking you, Yours truly, For ADITYA BIRLA REAL ESTATE LIMITED (formerly Century Textiles and Industries Limited) ATUL K. KEDIA Jt. President (Legal) & Company Secretary Aditya Birla Real Estate Limited (Formerly known as Century Textiles and Industries Limited) Regd. Office: Century Bhavan, Dr. Annie Besant Road, Worli, Mumbai - 400 030, India. T: +91 22 2495 7000 I F: +91 22 2430 9491, +91 22 2436 1980 E: abrel.info@adityabirla.comIW:www.adityabirlarealestate.com Corporate ID No.: L17120MH1897PLC000163 8/13/26, 11:39 AM Rating Rationale Crisil Ratings Rating Rationale August 11, 2026 | Mumbai Aditya Birla Real Estate Limited Long-term rating removed from ‘Watch Developing’; Ratings Reaffirmed Rating Action Regulator Of Total Bank Loan Facilities Rated Rs.2569 Crore Instrument Crisil AA/Stable (Removed from ‘Rating Watch with Long Term Rating RBI Developing Implications’; Rating Reaffirmed) Short Term Rating Crisil A1+ (Reaffirmed) RBI Rs.1000 Crore Non Convertible Crisil AA/Stable (Removed from ‘Rating Watch with SEBI Debentures Developing Implications’; Rating Reaffirmed) Rs.1000 Crore Commercial Paper Crisil A1+ (Reaffirmed) RBI Note: None of the Directors on Crisil Ratings Limited’s Board are members of rating committee and thus do not participate in discussion or assignment of any ratings. The Board of Directors also does not discuss any ratings at its meetings. 1 crore = 10 million Refer to Annexure for Details of Instruments & Bank Facilities Detailed Rationale Crisil Ratings has removed its rating on the long-term bank facilities and non convertible debentures (NCDs) of Aditya Birla Real Estate Limited (ABREL; Formerly known as Century Textiles and Industries Ltd; part of the Aditya Birla [AB] group) from ‘Rating Watch with Developing Implications’ and has reaffirmed the rating at ‘Crisil AA’ while assigning a ‘Stable’ outlook. Crisil Ratings has also reaffirmed its 'Crisil A1+' rating on the short-term bank facilities and commercial paper programme of ABREL. The long-term rating was placed on ‘Rating Watch with Developing Implications’ in April 2025 following the company’s announcement on March 31, 2025, regarding the execution of a business transfer agreement with ITC Ltd (ITC; rated ‘Crisil AAA/Stable/Crisil A1+’) for the sale of its pulp and paper undertaking for a total consideration of Rs 3,498 crore. The transaction was completed on August 1, 2026, with the undertaking transferred to ITC on a slump-sale and going-concern basis, along with the associated assets, liabilities, contracts and employees. Following completion of the transaction, the company utilised around a part of the proceeds towards repayment of debt. The balance proceeds are expected to be deployed towards additional debt repayment, enhancing the liquidity position as well as for business development, supporting the scale-up of the company’s real estate operations over the medium term. The gross residential debt is expected to reduce to around Rs 1,900–2,000 crore by the end of this fiscal. In fiscal 2026, the company achieved booking value of Rs 8,136 crore, with collection of Rs 3,341 crore, driven by new launches and sustenance of healthy collection from ongoing projects (booking value of Rs 8,075 crore and collection of Rs 2,706 crore in fiscal 2025). This includes nearly 76% of the project value booking achieved for its launched projects. Sales bookings are expected to remain healthy with the launch pipeline having an estimated gross development value (GDV) of ~Rs 9,600 crore in fiscal 2027 and sustenance sales from ongoing projects. The construction for existing projects is being funded through customer collections. Residential real estate projects on owned land and through joint development agreements (JDAs) are expected to continue generating healthy sales bookings, with collections supporting the construction costs of ongoing projects. The company will continue to follow a flexible approach with a mix of asset-light JDAs as well as outright land purchases to build a healthy project pipeline. Any substantial investment in JDAs or new projects could weaken the capital structure of the company, and hence, will remain monitorable. The company continues to benefit from a diversified revenue profile, healthy financial risk profile and adequate liquidity. Furthermore, the ratings benefit from strong, need-based, and timely financial support from the AB group. The ratings continue to reflect ABREL’s growing presence in the domestic residential real estate segment and steady cash flow generation from the commercial real estate segment. These strengths are partially offset by exposure of the residential real estate development business to demand and implementation risks. These risks are mitigated by the group’s proven track record in commercial real estate and focus on quality and timely project completion with healthy bookings for launched projects. Analytical Approach Crisil Ratings has applied its criteria for notch-up of ratings based on group support. Crisil Ratings has followed a full consolidation approach for the real estate and other subsidiaries, given the financial fungibility, and included the share of profit from joint venture, Birla Advanced Knits Pvt Ltd. Please refer Annexure - List of Entities Consolidated, which captures the list of entities considered and their analytical treatment of consolidation. -Key R-ating- Drive-rs - S-trengths https://www.crisilratings.com/mnt/winshare/Ratings/RatingList/RatingDocs/AdityaBirlaRealEstateLimited_August 11_ 2026_RR_401636.html 1/10 8/13/26, 11:39 AM Rating Rationale Strong collections from launched residential projects, to support the business, despite likely loss of steady cash flow of paper business post sale ABREL commenced developing commercial projects in 2010, leveraging a mix of owned land and JDAs, with the purchase of land banks, to enhance its project pipeline. Despite being a relatively new entrant, the company has entered into JDAs and purchased land across Mumbai, Delhi, Bengaluru and Pune, thereby augmenting its project pipeline with a GDV of ~Rs 42,105 crore. For projects launched up to the end of the fourth quarter of fiscal 2026, the company has achieved average bookings of over 76%, providing visibility into steady cash flow in the medium term. The strong reception to the launched projects, supported by the Birla brand, offers additional support. With the inflow of proceeds from the paper business sale, the investment requirement in residential real estate development projects will be met through a mix of collections from customers and additional liquidity available after the transaction, which will be utilised for improving the scale of business over the medium term. The company ha [Showing first 8,000 characters — download PDF for full document]