Birla group acquires premium land for luxury residential project at Mumbai's Malabar Hill

Aditya Birla Group’s real estate arm, Birla Estates, has acquired a premium land parcel in South Mumbai’s upmarket residential area of Walkeshwar at Malabar Hill. The 100 per cent wholly owned subsidiary of Century Textiles and Industries is aiming to develop a luxury residential project with a revenue potential of Rs 600 crore. 

Birla Estates is all set to enter the super-luxury real estate market, following the success of Birla Niyaara in Worli. It will launch boutique residences in one of Mumbai’s most upscale areas.  

The latest project in South Mumbai is located in an area with easy access to key entertainment, retail and businesses and city hotspots. 

K T Jithendran, MD and CEO, Birla Estates said that their long-term growth strategy is to create a niche in the luxury housing segment and that the acquisition of the prime plot of land in Walkeshwar is a significant milestone for Birla Estates. “We are excited about the opportunity to create bespoke boutique residences in one of the most sought-after locations in South Mumbai. This project will undoubtedly set a new benchmark for luxury living in the city, and we are committed to delivering a world-class development that exceeds the expectations of our discerning clientele."

The company currently has many projects across key markets in the country. This acquisition will provide world-class amenities and unmatched sea views, the company said. 

The Aditya Birla Group company is developing land parcels through outright purchases as well as asset light joint ventures, apart from developing its own land parcels. Headquartered in Mumbai, Birla Estates has regional offices in NCR and Bengaluru. 

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