Century Textiles Soars 8% as Birla Estates Acquires Prime 5-Acre Land in Gurugram
Century Textiles shares surged 8% after its subsidiary, Birla Estates, acquired a 5-acre land parcel in Gurugram with a development potential of 10 lakh square feet and revenue potential of over Rs 1,400 crore.
Real EstateCentury TextilesBirla EstatesGurugramDelhi NcrReal EstateJul 16, 2024
The acquired land parcel has a development potential of around 10 lakh square feet and is expected to generate revenue of over Rs 1,400 crore. This strategic move is expected to further strengthen Birla Estates' presence in the Delhi-NCR region, which is a pivotal market for the company.
KT Jithendran, MD and CEO of Birla Estates, expressed his excitement about the acquisition, stating that Gurugram has immense real estate potential and reinforces the company's focus in the Delhi-NCR region. He added that through this acquisition, Birla Estates aims to cater to homebuyers seeking exclusivity and distinctive living experiences.
Birla Estates is committed to offering transcendent luxury and envisions residences that embody a legacy of dedication and excellence. The company is rapidly expanding in the NCR market, and this acquisition adds to its ongoing projects on Golf Course Extension Road, Sector 31 in Gurugram, and Mathura Road in Delhi.
The shares of Century Textiles were trading 5.27% higher at Rs 2,212.15 on NSE, indicating a positive response from investors to the company's strategic move.
Information
Birla Estates is a wholly-owned subsidiary of Century Textiles and Industries Ltd, a leading Indian conglomerate with a diverse portfolio of businesses, including textiles, pulp and paper, and real estate. Birla Estates is focused on developing premium residential and commercial projects in key markets across India.
Century Textiles and Industries Ltd is a renowned Indian company with a rich legacy of over 100 years. The company has a strong presence in various sectors, including textiles, pulp and paper, and real estate. Its subsidiary, Birla Estates, is a leading real estate developer in India, known for its commitment to quality, innovation, and customer satisfaction.
Frequently Asked Questions
What is the development potential of the acquired land parcel?
The acquired land parcel has a development potential of around 10 lakh square feet.
What is the revenue potential of the acquired land parcel?
The acquired land parcel is expected to generate revenue of over Rs 1,400 crore.
What is the focus of Birla Estates in the Delhi-NCR region?
Birla Estates is focused on developing premium residential and commercial projects in key markets across India, with a strong focus on the Delhi-NCR region.
What is the current market value of Century Textiles shares?
The shares of Century Textiles were trading 5.27% higher at Rs 2,212.15 on NSE.
What is the vision of Birla Estates?
Birla Estates envisions residences that embody a legacy of dedication and excellence, offering transcendent luxury to its customers.
Related News Articles
Uncovering Nashik's Hidden Gems: Top Residential Hotspots to Watch
Discover the key localities driving Nashik's real estate market growth
From TV Stardom to Real Estate Success: The Inspiring Journey of Somya Seth
Former TV actress Somya Seth, who worked with Shaheer Sheikh and appeared in Shah Rukh Khan's Om Shanti Om, has found a new passion in real estate in the US
Womeki Group Unveils INR 350 Crore Luxury Project 'Eye of Goa' in Sindhudurg, Maharashtra
The real estate developer has partnered with Terra Holding to ensure top-tier construction standards throughout the project. Gaurav K Singh, the Founder and Managing Director of Womeki Group, highlights the project's unique blend of luxury and environment
Godrej Properties Reports Robust Rs 5,200 Crore Bookings in Q2 FY25
Godrej Properties shares are in the limelight after the company reported impressive bookings of Rs 5,200 crore in the second quarter of FY25. The robust sales were driven by strong demand from new project launches in the National Capital Region (NCR) and
Chennai's Real Estate Market Surges: Office Space and Housing Transform the City
Over the past 25 years, Chennai's real estate market has experienced remarkable growth, with office space and housing leading the transformation into a tech and industrial powerhouse.
Live Market Updates: Your Daily Stock Queries Answered
Join our live daily calls to get answers to your stock market queries and stay updated with the latest market news. From real estate to automotive, we cover it all.