by Sham Rathi
Pune, 24 June 2024: Birla Estates Pvt. Ltd., a 100% wholly owned subsidiary of Century Textiles and Industries Limited and the real estate venture of the Aditya Birla Group, is all set to expand its presence in Pune with land acquisition in Manjri, Pune. The land parcel is spread across 16.5 acres with a development potential of approx. 32 lac sq ft and an estimated revenue potential of INR 2,500 Cr.
A part of an Integrated Township, the proposed development will offer a variety of residential unit configurations. Located in the rapidly emerging micro-market of Manjri, Pune, the project is situated on the Pune-Solapur Highway offering seamless connectivity to several IT hubs, including Kharadi, Magarpatta, and Phursungi, as well as the Hadapsar MIDC.
Commenting on this development, Mr. K. T. Jithendran, MD & CEO at Birla Estates said, “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.”
Furthermore, the project is conveniently connected to educational institutions, healthcare facilities, and shopping centers, making it a lucrative investment opportunity. The area is poised for substantial growth due to its excellent connectivity to the Pune Ring Road.
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 Bengaluru and Pune 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.
