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Century Textiles and Industries Ltd. (CTIL) announced on Wednesday, June 5, that its wholly-owned subsidiary Birla Estates Private Ltd. and Barmalt India Private Ltd. had formed a joint venture to create a posh group housing estate in Sector 31 in Gurugram.
According to a stock exchange filing, the 13.27-acre property piece has a development potential of over 2.4 million square feet and a potential income of about ₹5,000 crores.
Situated in the posh Sector 31 Gurugram micro market, this property has excellent access to Sohna Road, Golf Course Road, and Cyber City.
Birla Estates And Barmalt India Form JV For Sector 31 Gurugram Project
Additionally, it is well situated near major business districts including City Centre 29, Signature Towers, 32nd Avenue, and Crowne Plaza, and has quick access to both the metro line and NH-48.
“As we expand our footprint in the Delhi NCR region, we’re pleased to announce the addition of this new project in one of Gurugram’s most promising micro markets,” stated K.T. Jithendran, MD and CEO of Birla Estates.
Birla Estates Is The Aditya Birla Group’s Real Estate Division
“With deep roots in Gurugram, Barmalt shares a strong relationship and connection with the city,” stated Akshi Jindal, CEO of Barmalt India. Gurugram’s residential environment will surely be redefined by our combined industry knowledge and vision, providing purchasers with an unmatched quality of life.”
Century Textiles and Industries Ltd. is home to Birla Estates, the Aditya Birla Group’s real estate division. On the BSE, Century Textiles and Industries Ltd.’s shares closed at ₹1,838.15, down ₹57.75, or 3.05%.
Source-ET
