New Delhi, Realty firm Birla Estates Pvt Ltd on Monday said it has acquired 16.5 acres of land in Pune to develop a housing project with an estimated revenue potential of Rs 2,500 crore.
Birla Estate is a 100 per cent wholly owned subsidiary of Century Textiles and Industries Limited and the real estate venture of the Aditya Birla Group.
The company said it is expanding its presence in Pune with the acquisition of land in Manjari, Pune.
"The land parcel is spread over 16.5 acres, with a development potential of approximately 32 lakh sq ft and an estimated revenue potential of Rs 2,500 crore," it said in a regulatory filing.
"Pune is a strategic market for us and this acquisition is a step towards our ambitious growth plans," said KT Jitendran, MD and CEO of Birla Estates.
He said, Pune-Solapur corridor is changing rapidly.
“We intend to enhance the quality of life in Manjari by providing carefully designed homes that integrate contemporary architecture with thoughtfully chosen amenities,” Jeetendran said.
Birla Estate develops premium residential housing in prime markets. The company is developing land parcels 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.
Birla Estate is a 100 per cent wholly owned subsidiary of Century Textiles and Industries Limited and the real estate venture of the Aditya Birla Group.
The company said it is expanding its presence in Pune with the acquisition of land in Manjari, Pune.
"The land parcel is spread over 16.5 acres, with a development potential of approximately 32 lakh sq ft and an estimated revenue potential of Rs 2,500 crore," it said in a regulatory filing.
"Pune is a strategic market for us and this acquisition is a step towards our ambitious growth plans," said KT Jitendran, MD and CEO of Birla Estates.
He said, Pune-Solapur corridor is changing rapidly.
“We intend to enhance the quality of life in Manjari by providing carefully designed homes that integrate contemporary architecture with thoughtfully chosen amenities,” Jeetendran said.
Birla Estate develops premium residential housing in prime markets. The company is developing land parcels 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.
