The Aditya Birla Group’s real estate endeavor is Birla Estates Private Limited, with a 100 percent owned subsidiary of Century Textiles and Industries Limited. Thus, Birla Estates has quickly been recognized as a leading brand in the real estate sector.
However, in important markets, Birla Estates creates luxury residential buildings. In addition to developing its land parcels, the business is also developing land parcels through outright purchases and asset-light joint ventures.
Therefore, by purchasing 5.76 acres of property in Sangamwadi, Pune’s central business area, Birla Estates Private Limited, the real estate division of the Aditya Birla Group located under Century Textiles and Industries Limited, has finally joined the Pune residential real estate market.
They Purchased from Sudarshan Chemical Industries Ltd. was the land (SCIL). Thus, this land has a potential revenue of around Rs. 2,500 Cr. and is situated in one of Pune’s most exclusive neighborhoods.
Following, keeping with its goal to build thoughtful LifeDesigned rooms with carefully chosen features that establish new standards for contemporary living, the business intends to develop a high-end residential complex.
Regarding the recent deal, Mr. K T Jithendran, MD and CEO, of Birla Estates stated, “With this foray into Pune, Birla Estates is embarking on an exciting new phase after establishing itself in the MMR (Mumbai Metropolitan Region), Bengaluru and NCR (National Capital Region) markets. Pune is one of the country’s largest residential markets and this land with high revenue potential is located at the heart of the city. We aim to create an urban ecosystem in line with our LifeDesigned philosophy catering to customer needs and enhancing the quality of life. The Pune foray is key to our growth strategy and our ambition to be among the top developers in the country.”
Thus, Century Textiles and Industries Ltd (CTIL)’s major development engine, Birla Estates, is actively working on several projects in several important domestic markets. It comprises Mumbai’s most exclusive neighborhood, Worli, and its flagship project, Birla Niyaara. One of the best-selling residential developments in MMR, Birla Niyaara has had brisk sales of more than Rs 2300 crore in more than a year after its debut.