Birla Estates aiming to be among top 3 real estate companies
Banking on the strong land bank in its possession and expecting consolidation of the realty sector triggered by regulatory and macroeconomic reforms, Birla Estates is looking to aggressively pursue realty development to emerge among the top three real estate companies in India, said a top executive of the company.
Birla Estates, a division of BK Birla Group Company Century Textiles and Industries (CTIL), owns nearly 200 acres in Mumbai, Pune and Bengaluru and will use a capital efficient, asset light model to source joint venture deals and develop the brand. Also read http://realtyplusmag.com/motilal-oswal-real-estate-invests-rs-83-cr-in-radiance-projects-2/
Birla Estates is preparing for aggressive expansion of its existing bank of over 200 acres, which entails investment of Rs 2,000-2,500 crore on development of these parcels.