Birla Estates Private Limited, a subsidiary of listed company Century Textiles and Industries Limited, announced the launch of a real estate project in the Devanahalli area of Bengaluru that has the potential to earn a revenue of Rs 3,000 crore, the real estate company said in a statement. The company has for now launched the Birla Trimaya project’s first phase offering 1, 2, and 3BHK apartments along with duplexes across eight towers. The project is located near the upcoming BIAL IT Investment Region, and the project is expected to attract a diverse range of individuals including high-net-worth and non-resident investors, the company said in the statement.
"After the success of Birla Alokya and Birla Tisya crossing a booking value of approximately Rs 1,000 crore in the Bengaluru market, we are delighted to launch our third project in the rapidly developing city. With the launch of Birla Trimaya Phase 1, we
estimate our potential booking value at approximately Rs 500 crore," said KT Jithendran, MD and CEO of Birla Estates. He added, "North Bengaluru has become one of the fastest growing business hubs with several R&D, aerospace, automobile and pharmaceutical establishments setting up operations in the area. Consequently, this has created a significant influx of skilled professionals, drawn by high-value career opportunities, who aspire to a lifestyle of opulence."
According to the company, the project is in a joint venture with Ramaiah Realty LLP. “Our joint venture with Birla Estates exemplifies our dedication to providing residences that enhance the quality of living. By partnering with them we are well-positioned to extend our reach within the high-end residential real estate sector and explore new growth avenues in this sector," said MR Seetharam, designated partner, M S Ramaiah Realty. In May 2023, Birla Estates purchased a 28.6-acre land parcel in eastern Bengaluru with a potential revenue of Rs 3,000 crore.
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