Making a strides in Pune's real estate market, Birla Estate Pvt Limited, a fully owned subsidiary of Century Textiles and Industries Limited and the real estate venture of the Aditya Birla Group, on Monday, June 24, through an exchange filing announced that the company has acquired a a16.5-acre land parcel in Manjri, Pune.
As per the regulatory filing, the newly acquired land has a development potential of approximately 32 lakh square feet.
The real estate venture of the Aditya Birla Group, Birla Estates projects an estimated revenue potential of Rs 2,500 crore from this development.
Integrated Township Project
The planned development will be part of an Integrated Township and will offer various residential unit configurations, the company added in the regulatory filing.
Prime Location
Situated in the rapidly growing micro-market of Manjri, the project benefits from its location on the Pune-Solapur Highway which provides seamless connectivity to major IT hubs such as Kharadi, Magarpatta, and Phursungi, as well as the Hadapsar MIDC.
“Pune is a strategic market for us and this acquisition is a step towards our ambitious growth plans. The Pune Sholapur corridor is transforming at a rapid pace and we intend to enhance living standards in Manjri by delivering meticulously designed homes that seamlessly integrate contemporary architecture with thoughtfully chosen amenities,” added K. T. Jithendran, MD & CEO at Birla Estates.
The project’s location has connectivity to educational institutions, healthcare facilities, and shopping centers. It is also well-connected to the upcoming Pune Ring Road, the company said in the BSE filing.
Century Textiles and Industries Ltd shares
The shares of the company on Monday at 1:26 pm IST were trading at Rs 2,318.30, up by 4.53 per cent.
