Birla Estates Private Limited, a subsidiary of Century Textiles and Industries Limited, announced that its tower Silas at Birla Niyaara recorded sales of INR 2,500 crore at launch. This pushed Birla Niyaara's total sales so far to over INR 5,400 crore. Silas features 148 palatial 4BHK-5BHK residences, continuing the luxury legacy of the first tower. This tower is the second phase of Birla Niyaara. In the first phase, the company launched 414 flats, of which it has closed over 85% of sales. The company aims to reach a gross pre-booking value of approximately INR 3,000 crore through its three projects in Mumbai and Bengaluru - Worli and Walkeshwar in Mumbai and RR Nagar in Bengaluru.
Birla Estates Private Limited, a wholly-owned subsidiary of Century Textiles and Industries Limited and the real estate arm of the Aditya Birla Group, announced on May 2nd that its tower Silas at Birla Niyaara recorded sales of INR 2,500 crore at launch.
According to the company, this propelled Birla Niyaara's total sales so far to over INR 5,400 crore. Silas at Birla Niyaara features 148 palatial 4BHK-5BHK residences, continuing the legacy of luxury set by the first tower. Birla Niyaara seamlessly connects Mumbai's premier commercial hubs, Fort and Bandra Kurla Complex (BKC). Its strategic location, in close proximity to the imminent Worli-Sewri connector and the new trans-harbor link, guarantees swift and effortless access to these distinguished Central Business Districts (CBDs).
The Worli launch will be the second phase launch for Birla Niyaara. In the first phase, the company launched 414 flats, of which it has closed over 85% of sales. In the second phase, the company plans to launch another 8.5 to 9 lakh square feet of saleable area.
With its exquisite design and premium amenities, Silas at Birla Niyaara promises residents an unparalleled lifestyle experience. Additionally, being India's first LEED pre-certified platinum residential project underscores Birla's commitment to sustainability in real estate development.
Birla Niyaara, which is selling for around INR 80,000 per sq ft on carpet area, has become the highest selling project in a year in the Mumbai Metropolitan Region with a booking value of INR 1,915 crore in CY2022.
K T Jithendran, MD & CEO, Birla Estates, said that the company has a very strong pipeline of about INR 45,000 crore of GDV. They are seeking to add another INR 10,000 crore this year, and another INR 20,000 crore next year.
The company aims to reach a gross pre-booking value of approximately INR 3,000 crore through its three projects in Mumbai and Bengaluru - Worli and Walkeshwar in Mumbai and RR Nagar in Bengaluru.
The company in April 2023 announced the acquisition of a land parcel for a luxury residential project in the Walkeshwar area of Malabar Hill in South Mumbai. The super-luxury residences at Walkeshwar hold a revenue potential of over INR 600 crore.
The company in September 2022 announced the acquisition of a 10-acre land parcel at RR Nagar in South Bengaluru. The project has a development potential of 1 million sq ft with a revenue potential of INR 900 crore. The company plans to launch these projects this year.
Regarding launches on the company's land in Pune and Prabhadevi area of Mumbai, Birla Estates said it is not looking for an immediate launch in the next two, three years on these projects.
Birla Estates also has two commercial projects in Mumbai, at Worli and Prabhadevi. Both of them are completely leased out and garnering an average rental of close to about INR 130 crore. So, the company is also keen on expanding its commercial portfolio.
With ongoing and planned residential projects in key markets like Mumbai and Bengaluru, the company is on track to achieve its gross pre-booking target of INR 3,000 crore. The strong sales and leasing performance of existing projects indicate growing demand for Birla Estates' luxury branded developments. Thus, the company is well-positioned to realize its vision of being India's leading luxury real estate brand.
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