On September 12, Birla Estates, a subsidiary of Century Textiles and Industries, a publicly traded company, unveiled plans for a lucrative real estate venture in the Devanahalli region of Bengaluru. The real estate firm disclosed this information in an official statement, asserting that the project has the potential to generate revenue of Rs 30 billion.
The initial phase of the project, named Birla Trimaya, has been officially launched, offering a range of 1, 2, and 3BHK apartments as well as duplex units within eight towers. Positioned in proximity to the forthcoming BIAL IT Investment Region, the development is expected to draw a diverse array of investors, including high-net-worth individuals and non-resident investors, as highlighted in the company's statement.
KT Jithendran, the Managing Director and CEO of Birla Estates, expressed his enthusiasm about the project, stating, "Following the remarkable success of Birla Alokya and Birla Tisya, which collectively secured bookings valued at approximately Rs 10 billion in the Bengaluru market, we are thrilled to introduce our third project in this rapidly evolving city. With the launch of Birla Trimaya Phase 1, we anticipate potential bookings reaching approximately Rs 5 billion."
He further elaborated, "North Bengaluru has emerged as one of the fastest-growing business hubs, attracting numerous R&D, aerospace, automobile, and pharmaceutical enterprises. Consequently, this has led to a substantial influx of skilled professionals pursuing high-value career opportunities, all of whom aspire to enjoy a luxurious lifestyle."
According to the company, this project is a joint venture in collaboration with Ramaiah Realty LLP. MR Seetharam, designated partner at M S Ramaiah Realty, emphasised the commitment to delivering residences that enhance the quality of life, stating, "Our partnership with Birla Estates underscores our dedication to elevating the standard of residential living. Through this collaboration, we are well-positioned to expand our presence in the high-end residential real estate sector and explore new avenues for growth in this domain."
In May 2023, Birla Estates acquired a 28.6-acre land parcel in eastern Bengaluru, projecting a potential revenue of Rs 30 billion from this strategic investment
