Century Textiles shares rallied 4% during the early trading hours on 26 September after the company’s wholly-owned subsidiary announced the launch of the first phase of the residential project, Birla Trimaya, located in Bengaluru.

The company said in its exchange filing that the initial phase has quickly gained the interest of homebuyers and investors.

The real estate arm of the Aditya Birla Group is expecting a booking value of Rs 500 crore in the first phase of the project at Devanahalli in Bengaluru.

Through this project, the company aims to reach an estimated revenue potential of Rs 3,000 crore from the entire project.

KT Jithendran, MD and CEO of Birla Estates, said, “After the success of Birla Alokya and Birla Tisya crossing a booking value of approximately Rs 1,000 crore in the Bengaluru market, we are delighted to launch our third project in the rapidly developing city. With the launch of Birla Trimaya phase 1, we estimate our potential booking value at approximately Rs 500 crore.”

The project is located near the upcoming BIAL IT Investment Region and is designed to cater to the needs of homebuyers through a range of 1, 2, and 3 BHK apartments and luxurious duplexes across 8 towers.

At 3:30 pm, the shares of Century Textiles closed at Rs 1,066 or 1.82% below its previous close on NSE.