Century Textiles Acquires Prime Land in Worli for ₹1100 Crore, Eyes ₹14000 Crore Revenue

Mumbai:Century Textiles and Industries Limited (CTIL) has announced the acquisition of a 10-acre leasehold land parcel in Worli, Mumbai, from Nusli Wadia for ₹1100 crore. The company projects a revenue potential of ₹14000 crore from the forthcoming real estate development on this prime site. This strategic acquisition will be overseen by its real estate subsidiary, Birla Estates Pvt Ltd, which is set to capitalize on the booming luxury real estate market in Worli.

The deal merges CTIL’s existing leasehold interests with newly acquired ownership rights, consolidating its position in the high-value real estate sector. This new land parcel is part of a larger 30-acre contiguous holding in the area, with an overall booking value potential estimated at approximately ₹28000 crore. The acquisition also includes the flagship Birla Niyaara project, which has already achieved cumulative sales of over ₹5700 crore.

Century Textiles, with a storied legacy dating back to 1897, has evolved from a textile-focused entity into a major commercial player. Its real estate arm, Birla Estates, is fully owned by Century Textiles and represents the Aditya Birla Group's interests in the premium housing sector. The company, headquartered in Mumbai, also operates regional offices in NCR, Bengaluru, and Pune, and has a significant commercial portfolio, including two grade-A office buildings in Worli.

This move aligns with Century Textiles' ongoing expansion in premium residential and commercial real estate, with a focus on both direct land acquisitions and asset-light joint ventures.

About Century Textiles and Industries Ltd:
Founded in 1897, Century Textiles has transformed from a single-unit textile manufacturer into a prominent commercial enterprise. Its subsidiary, Birla Estates Pvt Ltd, continues to develop high-end residential properties and manage significant commercial assets across key Indian markets.