Hot Pursuit     25-Jan-25
Aditya Birla Real Estate partners with Mitsubishi for their residential project in Bengaluru
Aditya Birla Real Estate said that its wholly owned subsidiary Birla Estates (BEPL) has entered into a joint venture agreement with Mitsubishi Estate Co. (MEC) for developing a residential housing development in Southeast Bengaluru.

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.

Previous News
  Aditya Birla Real Estate partners with Mitsubishi for their residential project in Bengaluru
 ( Hot Pursuit - 25-Jan-25   15:36 )
  Board of Aditya Birla Real Estate approves sale of assets of non-operating textile plant
 ( Corporate News - 21-Jan-25   15:43 )
  AB Real Estate slides on posting dismal Q3 outcome
 ( Hot Pursuit - 21-Jan-25   15:01 )
  Aditya Birla Real Estate reports consolidated net loss of Rs 40.59 crore in the December 2024 quarter
 ( Results - Announcements 21-Jan-25   14:19 )
  Aditya Birla Real Estate schedules board meeting
 ( Corporate News - 09-Jan-25   16:33 )
  Birla Estates acquires 70.92 acres in Boisar for Rs 104 cr
 ( Corporate News - 17-Dec-24   16:53 )
  Aditya Birla Real Estate director ceases
 ( Corporate News - 31-Oct-24   12:28 )
  Aditya Birla Real Estate reports consolidated net profit of Rs 2.58 crore in the September 2024 quarter
 ( Results - Announcements 22-Oct-24   15:45 )
  Aditya Birla Real Estate to declare Quarterly Result
 ( Corporate News - 15-Oct-24   10:19 )
  Birla Estates garners revenue of Rs 600 cr in Birla Trimaya Phase II project
 ( Corporate News - 01-Oct-24   16:18 )
  Volumes soar at Prism Johnson Ltd counter
 ( Hot Pursuit - 11-Sep-24   14:30 )
Other Stories
  Cupid Q3 PAT jumps 25% to Rs 11 cr
  15-Feb-25   15:46
  AGS Transact Tech Q3 net loss widens to Rs 194 cr
  15-Feb-25   15:04
  Swan Energy Q3 PAT soars 406% YoY to Rs 583 cr
  15-Feb-25   12:45
  Genesys Intl Q3 PAT climbs 32% YoY to Rs 21 cr
  15-Feb-25   12:15
  PTC Industries Q3 PAT spurts 76% YoY to Rs 14 cr
  15-Feb-25   11:34
  RVNL Q3 PAT slides 13% YoY to Rs 311 crore
  15-Feb-25   10:47
  BHEL bags Rs 6,700 crore power project from Singareni Collieries
  15-Feb-25   09:48
  Mahindra & Mahindra's electric SUVs see 30,179 bookings on day 1
  15-Feb-25   09:32
  Reliance Industries acquires Lakadia B Power Transmission
  15-Feb-25   09:21
  Ethos rises after Q3 PAT climbs 15% YoY to Rs 29 cr
  14-Feb-25   15:12
Back Top