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Birla Estates acquires 5.76-acre prime land parcel entering Pune real estate market

Birla Estates acquires 5.76-acre prime land parcel entering Pune real estate market

Birla Estates Private Limited, the real estate arm of the Aditya Birla Group housed under Century Textiles and Industries Limited, has entered the Pune residential real estate market and has acquired 5.76 acres of land in Sangamwadi, a central business district in Pune. 

The development potential of the land parcel is over 1.5 million sq. ft. with a revenue potential of over Rs. 2500cr.  The land was purchased from Sudarshan Chemical Industries Ltd (SCIL). This land parcel is located in one of the most premium locations in Pune with an estimated revenue potential of approx. Rs. 2,500 Cr.

The company plans to develop a premium residential project in line with its intent to create thoughtful Life Designed spaces with curated amenities setting new benchmarks for contemporary living/
Mr K T Jithendran, MD and CEO, Birla Estates said, “the Pune foray is key to our growth strategy and our ambition to be among the top developers in the country.”

Birla Estates, a key growth engine of Century Textiles and Industries Ltd (CTIL), currently has the flagship project Birla Niyaara in Worli, one of Mumbai’s most premium locations. Birla Niyaara has been one of the top selling residential projects in MMR and received an overwhelming response with sales of more than Rs 2300 crore in over a year since launch.