Shares of Aditya Birla Real Estates Ltd soared 3% on 18 December after the company announced that its subsidiary, Birla Estates, paid Rs 104.3 crore to buy a 70.92-acre land lot in Boisar.
In its regulatory filing, the company said, “Birla Estates Private Limited, a wholly owned subsidiary of Aditya Birla Real Estate Limited (formerly Century Textiles and Industries Limited) today announced that It has acquired a land parcel covering 70.92 acres in Boisar for Rs 104.3 crore.”
Birla Estates Private Limited is owned entirely by Aditya Birla Real Estate Limited (formerly Century Textiles and Industries Limited). In a short amount of time, Birla Estates has emerged as a preferred brand in the real estate industry. Birla Estates builds upscale residential real estate in key markets.
The company is developing land parcels through asset-light joint ventures and outright purchases in addition to developing its own land holdings. By developing excellent residential, commercial, and mixed-use properties, the company hopes to become one of India’s top real estate companies in the long run.
The company’s main goal is to stand out by client centricity, sustainability, execution excellence, and careful design. With two grade-A commercial buildings in Worli, Mumbai, totalling about 6 lakh square feet of leasable space, the company has a well-established commercial portfolio in addition to its Mumbai headquarters and regional offices in Bengaluru, Pune, and the National Capital Region.
Aditya Birla Real Estate, a branch of the renowned Aditya Birla Group, is a growing player in the Indian real estate sector. Even though the group’s primary businesses are in the metals, cement, communications, and financial services sectors, its real estate ventures align with its objective to diversify into expanding areas.
However, at 11:22 am, the shares of Aditya Birla Real Estates were trading 0.48% lower at Rs 2,700 on NSE.
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