Century Textiles and Industries Ltd, the real estate arm of the Aditya Birla Group, has officially changed its name to Aditya Birla Real Estate on the stock exchanges. The company’s scrip symbol has been updated from CENTURYTEX to ABREL.
“Century Textiles and Industries Limited is now Aditya Birla Real Estate,” the home page of the company’s website displays.
Also Read: Birla Estates sells housing properties worth ₹600 crore in Bengaluru
The company, which has a presence in real estate, textiles, pulp and paper, forayed into the realty sector with Birla Estates in 2016. It develops premium/higher middle-income residential housing and comprises a residential portfolio spanning a developable potential in excess of 20 million square feet, according to the company website.
Commercial portfolio
Birla Estates also has a commercial portfolio with two grade-A commercial buildings located in Worli, Mumbai with approximately 6 lakh square feet of leasable area, information on the website showed.
Also Read: Birla Estates buys 24.5 acres land from Hindalco for ₹537 crore in Kalwa near Mumbai
Birla Estates develops land parcels both through outright purchases as well as asset light joint ventures, apart from developing its own land parcels. In the long term, the company aims to develop residential, commercial and mixed-use properties, according to a company statement.
Birla Estates is headquartered at Mumbai and currently has regional offices in Pune, Delhi-NCR and Bengaluru.
Also Read: Birla Estates formally acquires Hindalco’s Kalwa factory plot
Earlier this month, Birla Estates said that the company has sold 95% of its inventory in the Bengaluru project, Birla Trimaya Phase II – The Park, within 24 hours of launch achieving an approximate booking value of about ₹600 crore.
The company has a project pipeline worth ₹45,000 crore in gross development value, K T Jithendran, MD and CEO of Birla Estates, had said in November 2023.
