The Managing Director and CEO of Birla Estates Pvt Ltd unveiled the company’s extensive roadmap for the real estate sector. With a series of lucrative housing projects lined up, Birla Estates aims to generate a staggering revenue potential of Rs 9,000 crore.
The projects are strategically located in prominent cities, including Bengaluru, Mumbai, Pune, and Delhi, catering to different market segments. In Bengaluru, the projects are situated in RR Nagar and Sarjapur, while the offering in Pune is on Wellesley Road. In Mumbai, the prime location of Walkeshwar is set to witness the development, and in Delhi, the project will be situated on Mathura Road.
Expanding on their ambitious vision, Jithendran disclosed that Birla Estates intends to launch several more projects and new phases across India. This year alone, the company aims to add projects in the ultra-luxury, luxury, and mid segments, with an estimated revenue potential of around Rs 5,900 crore.
In a strategic move, the company is set to launch two new projects in Bengaluru, showcasing its focus on the luxury to mid-premium segment. Additionally, a prime property acquisition in Walkeshwar, Mumbai, and new phases for Birla Niyaara in Worli, South Mumbai, and Birla Navya in Gurugram are on the horizon for this financial year.
Jithendran emphasized that the new projects will cover various price ranges, from affordable options starting at Rs 50 lakh to luxury offerings exceeding Rs 40 crore.
Regarding investments, Jithendran stated that land acquisition for the projects has been fully paid for, ensuring a robust foundation for the developments.
The Birla Niyaara project is a major highlight, with approximately 9 lakh sq ft launched in the first phase and plans for another 8.35 lakh sq ft to be unveiled by year-end, boasting a revenue potential of nearly Rs 4,000 crore. Furthermore, there are additional plans for a million square feet of commercial space in the future.
The company’s commitment to timely delivery is evident, with almost 1,500 apartments spread across three projects scheduled for handover this year. These projects are located in Bengaluru, Kalyan Birla Vanya in MMR, and one phase in the NCR.
While Birla Estates is primarily focused on greenfield projects, Jithendran hinted at the possibility of considering stalled projects under certain conditions, provided their financials are healthy.
Looking forward, Birla Estates is keen on expanding its presence in Delhi-NCR. After the successful sale of inventory worth close to Rs 1,350 crore in the first three phases of project Birla Navya, the company plans to launch phase four during the third quarter. Additionally, discussions are ongoing for potential luxury projects in both Gurgaon and Noida.
With an eye on commercial real estate, Birla Estates already has two fully leased-out projects in Mumbai, located in Worli and Prabhadevi, generating an average rental income of Rs 130 crore.