Birla Estates, Barmalt India set up JV for Gurugram housing project

6 Jun 2024 , 10:56 AM

Century Textiles and Industries Ltd (CTIL) said Wednesday (June 5) that its wholly-owned subsidiary Birla Estates Private Ltd has formed a joint venture with Barmalt India Private Ltd for a luxury residential group housing development in Gurugram’s Sector 31.

The 13.27-acre land tract has a development potential of 2.4 million square feet and a revenue potential of ₹5,000 crore, according to a stock exchange filing.

This property is located in the affluent micro market of Sector 31 Gurugram and has excellent connection to Cyber City, Golf Course Road, and Sohna Road. It is also strategically positioned near commercial areas such as City Centre 29, Signature Towers, 32nd Avenue, and Crowne Plaza, with easy access by NH-48 and the metro line.

Birla Estates’ MD and CEO, K.T. Jithendran, stated, “As we expand our footprint in the Delhi-NCR region, we’re pleased to announce the addition of this new project in one of Gurugram’s most promising micro markets.”

Akshi Jindal, CEO of Barmalt India, stated that with historic roots in Gurugram, Barmalt has a strong link and commitment to the city. Our aggregate market skills and vision will surely change the residential scene in Gurugram, providing homebuyers with a unique lifestyle experience.

Birla Estates is the Aditya Birla Group’s real estate arm, which operates under Century Textiles and Industries Ltd. Birla Estates Private Limited, a 100% owned subsidiary of Century Textiles and Industries Limited, is the Aditya Birla Group’s real estate unit. Birla Estates has quickly become a leading real estate brand. Birla Estates creates upscale residential properties in important markets.

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