Rs 3,000 crore revenue aim: This real estate subsidiary company enters into a joint venture agreement with M S Ramaiah Realty LLP!
The stock is up by 36 per cent in 3 months and 75 per cent in 6 months.
Birla Estates Private Limited, a 100 per cent wholly owned subsidiary of Century Textiles and Industries Limited is the real estate venture of the Aditya Birla Group.
The company entered into a joint venture agreement with M S Ramaiah Realty LLP to jointly develop a prime 52-acre land parcel in North Bangalore, we would like to further inform you that, Birla Estates Private Limited, a wholly-owned subsidiary of the Company has successfully launched Phase 1 of Birla Trimaya, Devanahalli.
This initial phase has quickly gained the interest of homebuyers and investors. The project is expected to have a revenue potential of approximately Rs 3,000 crore for the entire project, signifying its strong appeal to the target audience.
Birla Trimaya is thoughtfully designed to cater to diverse needs and includes a range of 1 BHK, 2 BHK and 3 BHK apartments and luxurious duplexes across 8 towers. Strategically located near the upcoming BIAL IT Investment Region, this project will attract a diverse range of individuals including high-net-worth and non-resident investors.
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Mr. K. T. Jithendran, MD & CEO of Birla Estates, said, “After the success of Birla Alokya and Birla Tisya crossing a booking value of approx. Rs 1,000 crore in the Bengaluru market, we are delighted to launch our third project in the rapidly developing city. With the launch of Birla Trimaya phase 1, we estimate our potential booking value at approx. Rs 500 cr. North Bengaluru has become one of the fastest-growing business hubs with several R&D, aerospace, automobiles and pharmaceutical establishments setting up operations in the area. Consequently, this has created a significant influx of skilled professionals, drawn by high-value career opportunities, who aspire to a lifestyle of opulence.”
On Monday, shares of Century Textiles and Industries Limited plunged 0.09 per cent to Rs 1,085 per share with an intraday high of Rs 1,098.10 and an intraday low of Rs 1,063.15. The company has a market cap of over Rs 12,000 crore and generated multibagger returns of over 850 per cent in a decade.
The stock is up by 36 per cent in 3 months and 75 per cent in 6 months. Investors should keep an eye on this mid-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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