Birla Estates Private Limited, a 100 per cent wholly owned subsidiary of Century Textiles and Industries Limited (BK Birla Group), forges ahead with its national expansion by announcing its entry in Gurgaon through a joint venture with Anant Raj Limited, a leading player with a large land bank in Delhi NCR market. Birla Estates has already made a significant impact in the real estate sector by launching its residential project in Mumbai (Kalyan) which will be followed by its upcoming residential project in Bangalore. The Company marks its foray into the Delhi-NCR region catapulting itself into the top league. Birla Estates also plans to develop a valuable portfolio of over 200 acres owned by the group across Mumbai MMR region, Pune & Bangalore markets.
Birla Estates’ maiden project in Gurgaon is located at Golf Course Extension road in Sec. 63A, one of the highest appreciating and premium micro markets of NCR. It is spread over 73 acres with saleable area potential of around 3.5 mn sq. ft. The project will be a premium residential gated community comprising low rise floors and Group housing. This will be the first residential LifeDesignedTM project by Birla Estates in NCR aimed to provide customers not just a good lifestyle but also a good ecosystem that is designed around their life.
Mr. K. T. Jithendran, CEO, Birla Estates, said, “Birla Estates’ first project in Gurgaon marks our foray into the high growth high potential NCR market through a joint development model. With lot of commercial activities picking up in this micro market around Golf Course Extn.; and with limited supply of quality residential supply, this market offers scope of huge price appreciation in the coming future. With a booking value potential of over Rs. 4,000 crores, the project shall spearhead the Company’s efforts to become one of the leading players in the market. At Birla Estates, we want to transform the way the real estate sector engages with customers. Trust, integrity, transparency, superior quality and thoughtfully designed solutions will be our differentiator and drive us to be true to our legacy.”
About Birla Estates: Birla Estates Private Limited is a wholly owned subsidiary of Century Textiles and Industries Limited (CTIL), foraying the entry of the Group into real estate. The initial focus of Birla Estates is the creation of a strong brand in real estate largely through development of premium/higher mid income residential housing in identified land parcels owned by the Group as well as through Joint Venture with landowners. In the long term, the company is focused on developing world class residential, commercial and mixed use properties and to be amongst the top 3 real estate companies in India. Birla Estates will use a capital efficient, asset light model to source Joint Venture deals and develop the brand. The focus markets are Mumbai, Pune Bangalore and NCR – which account for around 70% of the Pan Indiaresidential market. The company’s focus on design, customer centricity, technology and execution excellence will differentiate its offerings from those of its competitors. The company is headquartered at Mumbai and currently has regional offices in NCR and Bangalore. The business has a well-established commercial portfolio with 2 grade-A commercial buildings located in Worli, Mumbai with ~6 lakh sq. ft. of leasable area that are fully leased out and occupied. Birla Estates is working on developing the valuable portfolio of over 200 acres of land owned by CTIL. These parcels are located in prominent micro- markets of Mumbai – Worli/Prabhadevi/Kalyan, Pune - Talegaon, Bangalore.