The agreement entails investing Rs 560 crore in the said residential project in Bengaluru through a special purpose vehicle (SPV).

Under the partnership, BEPL and MJR Investment (MIPL), an affiliate of MEC will share 51:49 economic interest respectively in the SPV.

The SPV will lead the development of the premium residential project, which spans 4 million square feet of built-up area, strategically located in Bengaluru's thriving Southeast locality.

K. T. Jithendran, MD & CEO of Birla Estates, said: “We are pleased to announce our strategic collaboration with Mitsubishi Estate, marking its maiden investment in India’s residential real estate sector, to develop premium residential project.

Starting with this project, this partnership will combine MEC’s global expertise and our deep local insights to deliver world-class living spaces.”

Aditya Birla Real Estate (formerly known as Century Textiles and Industries) is established in 1897. It has presence in cotton textiles, pulp & paper and real estate sectors.

The firm had reported consolidated net loss of Rs 40.59 crore in Q3 FY25 as compared with net profit of Rs 83.30 crore in Q3 FY24. Revenue declined by 3.65% year-on-year (YoY) to Rs 946.21 crore in the third quarter of FY25.

The scrip declined 2.88% to end at Rs 1880.10 on the BSE on Friday.