Birla Estates, the real estate venture of the Aditya Birla Group, has bought around 24.5 acre land from Hindalco Industries in Mumbai Metropolitan Region (MMR) for ₹537.42 crore.
The plot is located at Kalwa, which is along the Thane-Belapur Road in Mumbai, according to a report by PTI citing real estate consultant Square Yards.
According to the report, Ekamaya Property Pvt Ltd, which is a wholly owned subsidiary of Birla Estates, bought the land.
“The registration document, reviewed by Square Yards, indicates that Ekamaya Property Pvt Ltd, a wholly-owned subsidiary of Birla Estates Private Limited, acquired the 99,021.47 square meter (~24.5 acres) land parcel,” the report said, quoting a company statement.
The deal was finalised in September 2024. It involved the purchase from Hindalco Industries Limited. The transaction included a stamp duty of ₹37.61 crore and a registration fee of ₹30,000, the report said.
“This is further to our intimation dated July 15, 2024, wherein it was informed that Board of directors of Hindalco Industries Limited approved a proposal of sale of land situated at Kalwa, Maharashtra to M/s. Ekamaya Properties Private Limited, a wholly owned subsidiary of M/s Birla Estates Private Limited,” Hindalco Industries Limited said in a regulatory filing on September 5.
“It is hereby further informed that on September 4, 2024, the Company has duly signed and registered definitive agreements for selling above land parcel,” it added in the regulatory filing.
Shares of Century Textiles and Industries
Earlier this month, Birla Estates Private Limited, a wholly-owned subsidiary of Century Textiles and Industries Limited, acquired approximately 10 acres of leasehold land in Worli, Mumbai, from Nusli Wadia for ₹1,100 crore.
Shares of Century Textiles and Industries rose 8.2 per cent in intraday trading on September 11, reaching an all-time high of ₹2,689 per share due to the company’s acquisition of Worli land. According to a Mint report on September 11, this deal merges the existing lease interest to full ownership.