century textiles and industries ltd: Birla Estates buys 28 acres at Bengaluru’s Sarjapur for residential project

Birla Estates, a real estate arm of Aditya Birla Group housed under Century Textiles and Industries, has purchased a 28.6-acre prime land parcel at Sarjapur Road in Bengaluru.

It plans to build a residential project that is estimated to have a revenue potential of around Rs 3,000 crore in the fast developing micro-market. The development will also include convenience retail options.

“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,” said K T Jithendran, managing director and CEO of Birla Estates.

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 and entertainment options.

In September, Birla Estates had acquired a 10-acre land parcel at Raja Rajeshwari Nagar in South Bengaluru. This project has a development potential of one million square feet with a revenue potential of Rs 900 crore.

The company is developing land parcels both through outright purchases as well as asset-light joint ventures. 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.