Monday, May 8, 2023

Birla Estates Acquires 28.6-Acre Land Parcel In Sarjapur Road, Bengaluru

* This marks company’s foray into the high visibility and lucrative South East Bengaluru market with the project holding a revenue potential of approx.  INR 3,000 Cr

Birla Estates Private Limited, the real estate arm of the Aditya Birla Group housed under Century Textiles and Industries Limited, today announced that it has purchased 28.6-acre prime land parcel in the fast developing micro-market of Sarjapur Road, Bengaluru. This strategic foray into South East Bengaluru market presents a lucrative opportunity for the company to develop Grade-A residences for the large pool of IT professionals working in the IT corridor of Sarjapur, Outer Ring Road, Whitefield and Electronics City.

The proposed project is estimated to have a revenue potential of approx. INR 3,000 Crore. The development will essentially comprise of residential housing along with convenience retail options.

Mr. K T Jithendran, MD and CEO, Birla Estates said, "Our decision to acquire a large land parcel in Bengaluru's Sarjapur Road demonstrates our strategic vision and deep commitment to tapping into emerging opportunities in India's fast-growing business districts. We believe that this region has immense potential to become the next IT hub, and our Grade-A residential complex will serve as a haven for modern professionals in the area. Our goal is to set a new standard for iconic living in Bengaluru through this project, and we are fully dedicated to creating a top-tier development that exceeds the expectations of our homebuyers.”

Sarjapur is a fast-developing locality of Bengaluru with good road connectivity to key commercial hubs. It is one of the prime residential and commercial hotspots of the IT capital of the country with high-end social infrastructure, entertainment options.

About Birla Estates:

Birla Estates Private Limited, a 100 per cent wholly owned subsidiary of Century Textiles and Industries Limited is the real estate venture of the Aditya Birla Group. In a short span of time Birla Estates has established itself as a brand of choice in the real estate industry.  Birla Estates develops premium residential housing in key markets. The company is developing land parcels both through outright purchases as well as asset light Joint Ventures apart from developing its own land parcels. In the long term, the company is focused on developing world class residential, commercial and mixed use properties and aims to be amongst the top real estate companies in India. The company’s focus is on differentiating through sustainability, execution excellence, customer centricity and thoughtful design.

The company is headquartered at Mumbai and currently has regional offices in NCR and Bengaluru and also has a well- established commercial portfolio with 2 grade-A commercial buildings located in Worli, Mumbai with ~6 lakh square feet of leasable area.

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