Century Textiles Acquires 10-Acre Land in Mumbai for ₹1100 Crore
Century Textiles plans to develop the land through its real estate subsidiary Birla Estates, expecting ₹14000 crore revenue from the project.
Real EstateMumbaiCentury TextilesBirla EstatesAditya Birla GroupReal Estate NewsSep 10, 2024
The acquisition marks a significant milestone for CTIL, which has been expanding its presence in the real estate sector. The 10-acre land parcel is located in the prime area of Worli, Mumbai, which is currently experiencing a bullish trend in luxury real estate.
The land parcel adds an approximate booking value potential of ₹14000 crore to the company, and paves the way for a gross 30-acre contiguous landholding in the area, with an overall booking value potential of approximately ₹28000 crore.
Birla Estates Pvt Ltd, a 100% wholly-owned subsidiary of CTIL, is the real estate venture of the Aditya Birla Group. The company has a strong presence in the commercial real estate sector, with two grade-A commercial buildings located in Worli, Mumbai, with around 6 lakh square feet of leasable area.
The company is also developing premium residential housing in key markets, and has a well-established portfolio of projects across the country.
Information
Century Textiles and Industries Limited (CTIL) is a leading Indian conglomerate with a 125-year legacy. The company was founded in 1897 as a single-unit textile entity and has since transformed into a commercial powerhouse.
Century Textiles and Industries Limited (CTIL) is a leading Indian conglomerate with a 125-year legacy. The company is headquartered in Mumbai and has regional offices in NCR, Bengaluru, and Pune.
Birla Estates Private Limited is a 100% wholly-owned subsidiary of CTIL and is the real estate venture of the Aditya Birla Group.
Frequently Asked Questions
What is the value of the land parcel acquired by Century Textiles?
The land parcel was acquired for ₹1100 crore.
What is the expected revenue from the real estate development project?
The company expects to generate ₹14000 crore in revenue from the project.
Where is the land parcel located?
The land parcel is located in the prime area of Worli, Mumbai.
What is the booking value potential of the land parcel?
The land parcel has an approximate booking value potential of ₹14000 crore.
What is the overall booking value potential of the contiguous landholding in the area?
The overall booking value potential of the contiguous landholding in the area is approximately ₹28000 crore.
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