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Boston Brand Media brings you the latest - "Birla Estates and Barmalt India have joined forces to collaborate on a high-end residential project in Gurugram, aiming to deliver luxurious living spaces. This partnership signifies a strategic move to tap into the upscale real estate market, leveraging the expertise and resources of both entities. Residents can anticipate premium amenities and unparalleled comfort in this forthcoming development, reflecting a shared commitment to excellence in housing."
The potential revenue for the project is estimated to be approximately ₹5,000 crore. Century Textiles and Industries Ltd, the owner of Birla Estates, saw its shares close at ₹1,838.15 on the Bombay Stock Exchange, marking a decline of ₹57.75 or 3.05%.
On Wednesday (June 5), Century Textiles and Industries Ltd (CTIL) announced that its wholly-owned subsidiary, Birla Estates Private Ltd, has partnered with Barmalt India Private Ltd for the development of a luxury residential group housing project in Sector 31, Gurugram.
The land area covers 13.27 acres and holds a development potential of about 2.4 million square feet, as stated in a filing with the stock exchange. This suggests an anticipated revenue of around ₹5,000 crore.
Situated in the prestigious Sector 31 of Gurugram, this project offers excellent connectivity to key areas like Cyber City, Golf Course Road, and Sohna Road. Additionally, it enjoys proximity to prominent commercial centers including City Centre 29, Signature Towers, 32nd Avenue, and Crowne Plaza, with easy access via NH-48 and the metro line.
K.T. Jithendran, MD and CEO of Birla Estates, expressed satisfaction in introducing this new project in one of Gurugram's promising micro markets, as part of their expansion in the Delhi NCR region.
Akshi Jindal, CEO of Barmalt India, emphasized their strong ties to Gurugram and the city's significance. She highlighted their combined market knowledge and vision, aiming to redefine Gurugram's residential landscape, promising homebuyers an unparalleled lifestyle.
Boston Brand Media also found that, Birla Estates, affiliated with the Aditya Birla Group through Century Textiles and Industries Ltd, witnessed its shares closing at ₹1,838.15 on the BSE, marking a decrease of ₹57.75 or 3.05%.
For questions or comments write to writers@bostonbrandmedia.com
Source: cnbctv18
