Birla Estates sells residential real estate worth Rs 600 cr in Bengaluru

Realty firm Birla Estates has sold properties worth about Rs 600 crore in its new housing project in Bengaluru.

Birla Estates, a wholly owned subsidiary of Aditya Birla Real Estate Ltd (formerly Century Textiles and Industries Ltd) said in a regulatory filing, "Birla Trimaya Phase II The Park, has sold almost 95 per cent of its inventory within 24 hours of its launch achieving an approximate booking value of about Rs 600 crore."

In the first phase of this project, the company had sold properties worth about Rs 500 crore.

"Overall, the cumulative booking value achieved till date is about Rs 1,100 crore and the project is anticipated to generate a revenue potential of around Rs 3,000 crore across the entire 52 acre development," it added.

The project is located at Shettigere Road, Devanahalli, Bengaluru North.

The company is headquartered in Mumbai and currently has regional offices in NCR, Bengaluru and Pune. It has a well-established commercial portfolio with 2 grade-A commercial buildings located in Worli, Mumbai with around 6 lakh square feet of leasable area.