Century Textiles Acquires 10-Acre Land in Mumbai for ₹1100 Crore, Expects ₹14,000 Crore in Revenue
Century Textiles plans to develop the land through its real estate subsidiary Birla Estates, expecting ₹14,000 crore in revenue from the project.
Real EstateMumbaiCentury TextilesBirla EstatesAditya Birla GroupReal EstateSep 10, 2024
This acquisition in the prime location of Worli, Mumbai, will add an approximate booking value potential of ₹14,000 crore to the company. It also paves the way for a gross 30-acre contiguous landholding in this prime area, with an overall booking value potential of approximately ₹28,000 crore.
The 10-acre land parcel is located in the forefront of the current bullish trend in luxury real estate. Birla Estates, the real estate venture of the Aditya Birla Group, has already achieved cumulative sales of over ₹5700 crore since its launch.
With a 125-year legacy, Century Textiles and Industries Ltd has transformed into a commercial powerhouse. Birla Estates Private Limited, a 100% wholly-owned subsidiary of Century Textiles and Industries Limited, is headquartered at Mumbai and currently has regional offices in NCR, Bengaluru, and Pune.
The company has a well-established commercial portfolio with 2 grade-A commercial buildings located in Worli, Mumbai, with around 6 lakh square feet of leasable area. It develops premium residential housing in key markets and is developing land parcels both through outright purchases as well as asset-light Joint Ventures apart from developing its own land parcels.
About Century Textiles and Industries Limited
Century Textiles and Industries Limited (CTIL) is a part of the Aditya Birla Group. With a 125-year legacy, the company has transformed into a commercial powerhouse.
About Birla Estates Private Limited
Birla Estates Private Limited is a 100% wholly-owned subsidiary of Century Textiles and Industries Limited. The company is the real estate venture of the Aditya Birla Group and is headquartered at Mumbai.
Frequently Asked Questions
Who has acquired the 10-acre land parcel in Worli, Mumbai?
Century Textiles and Industries Limited (CTIL) has acquired the 10-acre land parcel in Worli, Mumbai, from Nusli Wadia for ₹1100 crore.
What is the expected revenue from the real estate development on the site?
The company expects ₹14,000 crore in revenue from the real estate development on the site.
Who is the real estate subsidiary of Century Textiles and Industries Limited?
Birla Estates Pvt Ltd is the real estate subsidiary of Century Textiles and Industries Limited.
What is the location of the 10-acre land parcel?
The 10-acre land parcel is located in Worli, Mumbai.
What is the overall booking value potential of the 30-acre contiguous landholding in this prime area?
The overall booking value potential of the 30-acre contiguous landholding in this prime area is approximately ₹28,000 crore.
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