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)
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