Century Textiles arm to develop 52-acre land parcel in North Bangalore

25 Mar 2022 , 02:50 PM

Century Textiles and Industries Limited’s (CTIL) real estate arm, Birla Estates Pvt. Ltd. has agreed to develop a prime 52-acre land parcel in North Bangalore with M S Ramaiah Realty LLP.

The company believes that this project has a revenue potential of Rs3,000 crore and a development potential of 4.0 million sq. ft. This project will include both high and low-rise residential developments, along with retail and commercial elements. The company is seeking to develop an integrated mini township project with large green spaces, lifestyle amenities, and curated homes.

“We are delighted 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 chosen location will offer a lucrative real estate market opportunity for employment, excellent connectivity, and a variety of housing amenities across various segments. Bengaluru is a focus market for Birla Estates and we are glad to be announcing our 3rd project in a short time period,” commented Mr. KT Jithendran, CEO, Birla Estates.

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

Century Textiles & Industries Ltd is currently trading at Rs850.90 down by Rs13.9 or 1.61% from its previous closing of Rs864.80 on the BSE.