Century Textiles and Industries Limited’s wholly-owned subsidiary, Birla Estates Private Limited, has completed the acquisition of a 30.8-acre land parcel in Kalwa, Thane, Maharashtra. The purchase, made through Ekamaya Properties Private Limited, was finalized on September 4, 2024, with definitive agreements signed and registered.
The shares of Century Textiles and Industries Limited were trading at ₹2,396.50, up by ₹71.35 or 3.07 per cent on the NSE today at 3 pm.
The land, acquired from Hindalco Industries Limited, is located on Thane-Belapur Road, just 2 kilometers from Thane Station. The site has a development potential of approximately 5.4 million square feet and is slated for a mixed-use project.
Birla Estates, the real estate arm of the Aditya Birla Group, aims to leverage the location’s proximity to key infrastructure, including Viviana Mall, Eastern Express Highway, and both Mumbai and proposed Navi Mumbai airports.
This acquisition aligns with Birla Estates’ strategy of developing premium residential housing in key markets through outright purchases and joint ventures.