The business of real estate and its dynamics with the overall economy have made it a crucial paradigm for many businesses. This, therefore, has resulted in many companies chalking out their own real estate ventures.
Century of Real Estate
One of the new entrants aiming to enter the ever-booming real estate market is Mumbai-based Century Textiles and Industries. The company was founded in 1899 and is owned by the Kumaramanglam Birla-led conglomerate, The Aditya Birla Group.
According to the report, the company that has carved its space in the textile and paper manufacturing arena will push out projects worth a mammoth Rs 12,000 crore in the time to come. The focus here would be on residential projects. The company intends to do this by FY25. |
According to reports from Moneycontrol, the company is shifting its focus to becoming a major player in the lucrative real estate business.
According to the report, the company that has carved its space in the textile and paper manufacturing arena will push out projects worth a mammoth Rs 12,000 crore in the time to come.
The focus here would be on residential projects. The company intends to do this by FY25.
The focus of these projects would largely be the key real estate regions, particularly the tier-1 metro cities. The focus of this tranche of resources would be in the Mumbai Metropolitan Region (MMR), Bengaluru in the south, the National Capital Region, Delhi and Pune.
Birla Estates To Launch Projects
As of now, the company is said to have projects across different markets and is waiting in the wings. These projects could fetch the company with a revenue of over Rs 54,000 crore.
Century Textiles's wholly-owned subsidiary, Birla Estates, which focuses on luxury housing, has also managed to make major advances in the sector and is reportedly expected to launch projects worth Rs 15,000 crores to Rs 16,000 crores.
Amidst the ongoing earnings season, the company shares opened on a negative note on Friday, July 19. The company's stocks price dropped by a massive 2.03 per cent or Rs 45.85, to slump to Rs 2,213.90 per share in the early hours ofteh intraday trade.
