Birla Estates inks pact for 52-acre land parcel in North Bangalore

Birla Estates Pvt Ltd, the real estate arm of Century Textiles and Industries Limited (CTIL), has entered into an agreement to jointly develop a prime 52-acre land parcel in North Bangalore with M S Ramaiah Realty LLP.

The project has a revenue potential of Rs 3000 Cr and development potential 4.0 Mn sq. ft. and will comprise both high and low-rise residential developments, along with retail and commercial elements. It will be an integrated mini township project with large green spaces, lifestyle amenities and curated homes.

Mr. KT Jithendran, CEO, Birla Estates said, "We are pleased to announce our partnership with M S Ramaiah Realty LLP to jointly develop a premium integrated township in North Bangalore that will provide a comprehensive and established ecosystem of high-quality homes. The location offers a lucrative real estate market opportunity for employment, excellent connectivity and variety of housing amenities across various segments. Bengaluru is a focus market for Birla Estates and we are happy to be announcing our 3rd project in a short span of time.

Mr. M. R. Seetharam, Designated Partner, M S Ramaiah Realty added, "It has been a great privilege for M S Ramaiah Realty to partner with renowned brand like Birla Estates for a high-end residential township. We, along with Birla Estates will deliver world class living space."

The property is situated in North Bangalore, which is the fastest growing corridor and is in close proximity to Kempegowda International Airport. The property is at a distance of 2 kilometers from the proposed Airport Metro Station and would provide seamless connectivity into the city.

Currently, Birla Estates has two projects in Bangalore, Birla Alokya at Whitefield, a villament project offering villa like luxury with the vibrancy of apartment neighborhoods and Birla Tisya, a luxury residential project in Rajajinagar.

Shares of Century Textiles & Industries Limited was last trading in BSE at Rs. 864.80 as compared to the previous close of Rs. 833.40. The total number of shares traded during the day was 13915 in over 1303 trades.

The stock hit an intraday high of Rs. 870.00 and intraday low of 839.00. The net turnover during the day was Rs. 11922900.00.

Source : Equity Bulls

Keywords

CenturyTextilesandIndustries INE055A01016 BirlaEstates JointDevelopment NorthBangalore MSRamaiahRealtyLLP