Century Textiles Acquires 10-Acre Land in Mumbai's Worli for Rs 1100 Crore
This land will be developed through its wholly owned subsidiary, Birla Estates and adds an approximate booking value potential of Rs 14,000 crore to the company.
Century TextilesBirla EstatesMumbaiWorliReal EstateReal Estate MaharashtraSep 10, 2024
With this transaction, the existing leasehold interest of CTIL is merged with the ownership rights. This land will be developed through its wholly owned subsidiary, Birla Estates and adds an approximate booking value potential of Rs 14,000 crore to the company.
This acquisition also paves the way for 30-acre landholding in this area, with an overall booking value potential of approximately Rs 28,000 crore, the company claimed.
Information Century Textiles and Industries (CTIL) is a leading Indian textile company that has been in operation for over 100 years. The company has diversified its business interests into real estate development through its wholly owned subsidiary, Birla Estates.
Birla Estates is a real estate development company that is a wholly owned subsidiary of Century Textiles and Industries (CTIL). The company is focused on developing residential and commercial properties in key cities across India.
Frequently Asked Questions
Who is the owner of the 10-acre land parcel in Worli, Mumbai?
Nusli Wadia
How much did Century Textiles pay for the 10-acre land parcel?
Rs 1,100 crore
What is the booking value potential of the 10-acre land parcel?
Approximately Rs 14,000 crore
What is the overall booking value potential of the 30-acre landholding in Worli, Mumbai?
Approximately Rs 28,000 crore
Who is the developer of the 10-acre land parcel?
Birla Estates, a wholly owned subsidiary of Century Textiles and Industries (CTIL)
Related News Articles
Mumbai Real Estate Developer and CEO Embroiled in ₹13.65 Crore Fraud Case
A Mumbai-based real estate developer and CEO have been booked for allegedly forging documents and duping a partner of ₹13.65 crore in a Bhandup land deal.
Mumbai Property Registration Revenue Surges 52% YoY to Rs 1,081 Crore This Diwali
According to data from the Inspector General of Registration (IGR), Maharashtra, property registrations in Mumbai witnessed a remarkable 22% year-over-year increase, with 11,861 homes registered in October 2024, compared to 9,736 in November 2023.
AI Bubble Deflating: Zoho's Sridhar Vembu Stresses Importance of Real Engineering Work
Zoho CEO Sridhar Vembu discusses the potential deflation of the AI bubble and emphasizes the enduring importance of real engineering work in the tech industry.
ED Seizes ₹19.61 Crore from Karrm Developers Linked to Vivek Oberoi in Real Estate Scandal
The Enforcement Directorate (ED) in Mumbai has taken action against Karrm Developers, a real estate firm associated with actor Vivek Oberoi, by seizing assets worth ₹19.61 crore. The action is part of an ongoing investigation into financial misconduct in the affordable housing sector.
Mumbai Sees Record-Breaking Property Registration in March 2025
Mumbai witnessed a surge in property registration in March 2025, driven by the impending hike in reckoner rates set to take effect from April 2025. This surge highlights the robust demand in the city's real estate market.
Private Equity Investments Fuel 133% Surge in Real Estate Deal Volumes in Q1 2025
Real estate deal volumes soared by 133% in the first quarter of 2025, driven predominantly by private equity (PE) investments, which accounted for 88% of the total transactions.