Shares of Century Textiles and Industries Ltd shot up 8% on 16 July after the company announced that its arm acquired a land parcel in Gurugram. 

In its regulatory filing, the company said that its wholly-owned subsidiary, Birla Estates, has acquired a 5-acre land parcel in Gurugram. This land parcel has a development potential of around 10 lakh square feet and has a revenue potential of over Rs 1,400 crore. 

KT Jithendran, MD and CEO of Birla Estates, said, “Gurugram has been a pivotal market for us from the outset. The real estate potential in this micro-market is immense and reinforces our strong focus in the Delhi-NCR region.”

Jitendra added that through this admission, we aim to cater to homebuyers seeking exclusivity and distinctive living experiences. Birla Estates is committed to tranced luxury and embraces a vision of residences that embody a legacy of dedication and excellence. 

Birla Estates is rapidly expanding in the NCR market, and this acquisition adds to its ongoing projects on Golf Course Extension Road, Sector 31 in Gurugram, and Mathura Road in Delhi.

At 3:24 pm, the shares of Century Textiles were trading 5.27% higher at Rs 2,212.15 on NSE.

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