Birla Estates forays into residential real estate Pune market with acquisition of 5.76-acre with revenue potential of over Rs 2500 Crore
Pune, 6th April 2023: Birla Estates Private Limited, the real estate division of the Aditya Birla Group that operates under Century Textiles and Industries Limited, announced its entry into the Pune residential real estate market. The company has acquired 5.76 acres of land in Sangamwadi, a prominent central business district in Pune, from Sudarshan Chemical Industries Ltd (SCIL). The land is located in a prime location in Pune with an estimated revenue potential of approximately Rs. 2,500 Cr.
Birla Estates intends to develop a premium residential project that aligns with its philosophy of creating thoughtful LifeDesigned spaces with exceptional amenities that set new benchmarks for contemporary living. Mr. K T Jithendran, MD and CEO of Birla Estates, expressed his enthusiasm for the company’s new venture into Pune, following its success in the Mumbai Metropolitan Region, Bengaluru, and National Capital Region markets. Pune is one of the largest residential markets in India, and Birla Estates believes that this land’s high revenue potential located in the heart of the city is crucial to its growth strategy and its ambition to be among the top developers in the country.
Birla Estates, a key growth driver of Century Textiles and Industries Ltd (CTIL), currently has many projects underway in key markets across the country, including the flagship project Birla Niyaara in Worli, one of Mumbai’s most premium locations. Since its launch, Birla Niyaara has been one of the top-selling residential projects in MMR, with sales exceeding Rs. 2300 Cr in just over a year.
Join Punekar News Whatsapp Group, Telegram, Instagram And Twitter For Regular Update about Pune City And Pimpri-Chinchwad
