Birla Estates Secures Rs 420 Crore from IFC for Sustainable Real Estate Projects in Mumbai and Pune
Birla Estates has raised Rs 420 crore from the International Finance Corporation (IFC) to finance two key projects in the Mumbai Metropolitan Region and Pune, aiming to set new benchmarks in sustainable and high-quality housing development.
Birla EstatesIfcReal EstateSustainable DevelopmentHousingReal Estate NewsJun 09, 2025
Birla Estates Pvt Ltd, a wholly-owned subsidiary of Aditya Birla Real Estate Ltd (formerly Century Textiles and Industries Ltd), announced the signing of agreements for this investment in a regulatory filing. The IFC, a member of the World Bank Group, is contributing approximately USD 50 million (Rs 420 crore) to the projects.
The investment will be directed towards two of Birla Estates' key developments. About Rs 148 crore will be allocated to the Manjri project in Pune, which has a saleable area of around 3.13 million square feet. The remaining Rs 272 crore will be used for the Thane project, with a saleable area of about 6.43 million square feet.
These projects will be developed through two Special Purpose Vehicles (SPVs) owned and controlled by Birla Estates. IFC's investment will be made into these SPVs, which will serve as the development platform for both projects. Under the structure, Birla Estates will hold a 56 per cent economic interest, while IFC will hold a 44 per cent economic interest in the SPVs.
K T Jithendran, MD & CEO of Birla Estates, expressed his enthusiasm for the partnership. 'This investment from IFC will help us in our mission to reshape urban living through sustainable and high-quality real estate development. It validates our development philosophy and strengthens our ability to scale responsibly. With IFC's global expertise in sustainable investments and our deep-rooted market insights, we aim to set new benchmarks in Indian real estate,' he said.
Imad N Fakhoury, Regional Director for South Asia, IFC, emphasized the importance of the partnership. 'Housing is a powerful driver of jobs, resilience, economic growth -- and a key priority for IFC. Our partnership with Birla Estates will bridge the gap in India's housing sector by expanding availability of and access to sustainable, high-quality housing for the country's growing population, with a focus on first-time homeowners.'
Birla Estates continues to expand its presence in India's most sought-after real estate markets. In the last quarter of 2024-25, the company launched five projects across its key markets of NCR, Bengaluru, and Pune, recording its biggest quarter sales. This strategic move underscores the company's commitment to meeting the housing needs of India's growing population.
With this significant investment, Birla Estates is poised to make a substantial impact on the Indian real estate sector, setting new standards for sustainable and high-quality development.
Frequently Asked Questions
What is Birla Estates?
Birla Estates is a leading real estate company and a wholly-owned subsidiary of Aditya Birla Real Estate Ltd. It focuses on developing sustainable and high-quality housing projects in key markets across India.
How much has Birla Estates raised from IFC?
Birla Estates has raised Rs 420 crore from the International Finance Corporation (IFC) to finance its projects in the Mumbai Metropolitan Region and Pune.
What are the key projects funded by the IFC investment?
The IFC investment will be directed towards two key projects: the Manjri project in Pune (3.13 million sq ft saleable area) and the Thane project (6.43 million sq ft saleable area).
What is the structure of the investment?
The investment will be made through two Special Purpose Vehicles (SPVs) owned and controlled by Birla Estates. Birla Estates will hold a 56 per cent economic interest, while IFC will hold a 44 per cent economic interest in the SPVs.
What is the significance of this partnership for Birla Estates and IFC?
This partnership is significant as it will help Birla Estates scale responsibly and set new benchmarks in Indian real estate. For IFC, it aligns with their goal of expanding access to sustainable, high-quality housing, particularly for first-time homeowners.
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