Birla Estates inks joint venture with Barmalt India Pvt Ltd to develop 13.27-acre land in Gurugram

Birla Estates Pvt Ltd, the real estate venture of the Aditya Birla Group and a 100% wholly owned subsidiary of Century Textiles and Industries Limited, has entered into a joint venture with Barmalt India Pvt Ltd. for a luxury residential group housing development in Sector 31, Gurugram. The land parcel is spread across 13.27 acres with a development potential of approx. 2.4 million square feet offering a revenue potential of approx. INR 5000 crore.

Located in the upscale micro market of Sector 31 Gurugram, this project boasts of exceptional connectivity to Cyber City, Golf Course Road, and Sohna Road. It's also conveniently located close to commercial hubs such as City Centre 29, Signature Towers, 32nd Avenue and Crowne Plaza with easy connectivity via NH-48 as well as the metro line. Regarding infrastructure connectivity, the project is strategically located just off NH-48 offering quick and convenient access to the IGI Airport, Delhi & prime CBD areas of Gurugram. This micro market features premium residential developments, reputed schools and hospitals along with 5 star hotels within the immediate vicinity, ensuring a thriving and vibrant community environment.

Mr. K. T. Jithendran, MD & CEO of Birla Estates, stated, "As we expand our footprint in the DelhiNCR region, we're pleased to announce the addition of this new project in one of Gurugram' s most promising micro market. This project reflects our commitment to offering modern homebuyers worldclass living spaces in strategically chosen locations, complemented by exceptional amenities. We are confident this project will set a new benchmark in the Gurugram real estate market."

Ms. Akshi Jindal, CEO of Barmalt India Pvt Ltd said, "We are thrilled to partner with Birla Estates for this project and look forward to this association. This collaboration signifies our shared commitment to crafting exceptional living spaces that merge luxury with a purpose. Having deep roots in Gurugram, Barmalt shares a strong relationship and connection with the city. Our collective market expertise and vision will undoubtedly redefine the residential landscape in Gurugram, offering homebuyers an unparalleled lifestyle experience."

This collaboration marks another milestone in Birla Estates' mission to expand its footprint in the luxury real estate segment, building on the success of previous projects across major cities in India.

Shares of Century Textiles & Industries Limited was last trading in BSE at Rs. 1840.55 as compared to the previous close of Rs. 1895.90. The total number of shares traded during the day was 13476 in over 1692 trades.

The stock hit an intraday high of Rs. 1920.00 and intraday low of 1775.55. The net turnover during the day was Rs. 24554625.00.

Source : Equity Bulls

Keywords

CenturyTextilesandIndustries INE055A01016 BirlaEstates JV BarmaItIndia Sector31 Luxury Residential GroupHousing