 "Aditya Birla Real Estate gains 3% as arm acquires Rs 104-cr land in Boisar")
Aditya Birla Real Estate shares advanced 3.1 per cent in Wednesday's trade, logging an intraday high at Rs 2,797.6 per share on NSE. The stock saw demand after the company arm Birla Estates acquired a land parcel covering 70.92 acres in Boisar for Rs 104.3 crore.
However, around 9:27 AM, Aditya Birla Real Estate share price pared some gains and was up 1.04 per cent at Rs 2,741.45 per share on NSE. In comparison, the Nifty was down 0.2 per cent at 24,288.40. The market capitalisation of the company stood at Rs 30,620.81 crore. The 52-week high of the stock was at Rs 3,140 per share and the 52-week low was at Rs 1,185.45 per share.
"Birla Estates Private Limited, a wholly owned subsidiary of Aditya Birla Real Estate Limited (formerly Century Textiles and Industries Limited) today announced that It has acquired a land parcel covering 70.92 acres in Boisar for Rs 104.3 crore," the filing read.
Birla Estates Private Limited is a wholly owned subsidiary of Aditya Birla Real Estate Limited (formerly Century Textiles and Industries Limited). In a short span of time, Birla Estates has established itself as a brand of choice in the real estate industry. Birla Estates develops premium residential housing in key markets.
The company is developing land parcels both through outright purchases as well as asset-light Joint Ventures apart from developing its own land parcels. In the long term, the company is focused on developing world-class residential, commercial, and mixed-use properties and aims to be amongst the top real estate companies in India.
The company’s focus is on differentiating through sustainability, execution excellence, customer centricity, and thoughtful design. The company is headquartered in Mumbai and currently has regional offices in NCR, Bengaluru, and Pune and also has a well-established commercial portfolio with 2 grade-A commercial buildings located in Worli, Mumbai with ~6 lakh square feet of leasable area.
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Aditya Birla Real Estate, part of the renowned Aditya Birla Group, is a growing player in India's real estate sector. Although the group's primary businesses span industries such as metals, cement, telecom, and financial services, its real estate ventures align with its vision to expand into diversified growth sectors.
In the past one year, Aditya Birla Real Estate shares have gained 131 per cent against Sensex's rise of 13 per cent.