Birla Estates looks at acquiring 200 acres of Century Mills
Birla Estates, a real estate arm of B K Birla Group, has identified around 200 acres of land owned by its parent firm Century Textiles and Industries across Mumbai and Pune to strengthen its residential real estate business. With a focus on premium luxury housing projects, the company also plans to build homes in Pune, Bengaluru and the National Capital Region. “There is a huge potential in some of the land parcels owned by the textile factory that became unviable,” said K T Jithendran, chief executive officer at Birla Estates in a statement to the media. “We plan to focus on four markets as they are more consistent.” The firm has tied up for three land parcels totalling to 88 acres under the joint venture model across NCR and Bangalore for its residential foray. “We are looking for several more partnerships that are currently under discussion,” he added.
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