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Birla Estates Acquires 5-Acre Land in Gurugram, Eyes ₹1,400 Cr Revenue

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Synopsis:

Birla Estates acquires 5-acre land in Sector 71, Gurugram, to develop a 1 million sq. ft. luxury residential project, projected to generate over ₹1,400 crore. This acquisition marks a significant expansion in the NCR market.

Century Textiles News Today

Realty firm Birla Estates, part of Century Textiles and Industries Ltd, announced the acquisition of a prime five-acre land parcel in Sector 71, Gurugram. This acquisition is an expansion of Birla Estates' presence in the National Capital Region (NCR). Consequently, Century Textiles share price is expected to attract attention today.

Development Potential and Revenue Projections

The newly acquired land has a development potential of approximately one million square feet and is projected to generate revenue exceeding ₹1,400 crore. The proposed development will feature luxury high-rise residential towers, complemented by elegantly designed clubhouse amenities and landscaped surroundings.

Prime Location and Connectivity

Located on the Southern Peripheral Road (SPR) in Sector 71, the site boasts excellent connectivity to Delhi and other parts of Gurugram via the Dwarka Expressway, Sohna Road, and Golf Course Extension Road. This strategic location enhances the appeal of the project to prospective homebuyers.

Expansion in NCR

Birla Estates is rapidly expanding its footprint in the NCR market. This new acquisition adds to its ongoing projects in the Golf Course Extension Road and Sector 31 in Gurugram, as well as Mathura Road in Delhi.

Last month, the company entered a joint venture with Barmalt India Pvt Ltd. for a luxury residential group housing development in Sector 31, Gurugram, spanning 13.27 acres with a development potential of 2.4 million square feet and a revenue potential of ₹5,000 crore.

Corporate Profile and Market Performance

Birla Estates, a wholly-owned subsidiary of Century Textiles and Industries Ltd and the real estate arm of the Aditya Birla Group, continues to solidify its position in the market. On Monday, Century Textiles share price ended at ₹2,108.80, down by ₹32.45, or 1.52%, on the BSE.

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

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