Century Textiles and Industries expects to complete the demerger of its cement business, and its merger with UltraTech Cement, by this quarter.
It recently received an order from the National Company Law Tribunal (NCLT) approving the scheme, said Kumar Mangalam Birla, Century Textiles Chairman, at the company’s AGM on Tuesday.
With the launch of Birla Estates, the company has identified real estate business as the focus area for the future, given its existing land banks at prime locations.
Birla Estates has entered the Bengaluru market with two new deals and expects to launch a project this fiscal.