Birla Estates buys land in Pune, to build Rs 2,500 cr housing project

Realty firm Birla Estates Pvt Ltd on Monday said it has acquired a 16.5-acre land parcel in Pune to a develop a housing project with an estimated revenue potential of Rs 2,500 crore.

Birla Estates is a 100 per cent wholly-owned subsidiary of Century Textiles and Industries Ltd and the real estate venture of the Aditya Birla Group.

The company said it is expanding its presence in Pune with a land acquisition in Manjri, Pune.

"The land parcel is spread across 16.5 acres with a development potential of approx. 32 lakh sq ft and an estimated revenue potential of Rs 2,500 crore," a regulatory filing said.

K T Jithendran, MD & CEO at Birla Estates said, "Pune is a strategic market for us and this acquisition is a step towards our ambitious growth plans."

The Pune Sholapur corridor is transforming at a rapid pace, he said.

"We intend to enhance living standards in Manjri by delivering meticulously designed homes that seamlessly integrate contemporary architecture with thoughtfully chose