Mumbai — Century Textiles and Industries Limited (CTIL) has secured ownership rights for a 10-acre leasehold land parcel in Worli, Mumbai, from industrialist Nusli Wadia in a deal valued at ₹1,100 crore. The company, through its real estate arm Birla Estates Pvt. Ltd., plans to develop the prime location and anticipates generating a substantial ₹14,000 crore in revenue from the project.
Strategic Land Deal in Worli
This acquisition significantly strengthens CTIL's presence in the high-demand luxury real estate market in Worli, Mumbai. The newly acquired land is expected to deliver a booking value of ₹14,000 crore. Along with its existing holdings, the company now controls a 30-acre contiguous land bank in the area, bringing the total booking value potential to ₹28,000 crore.
Birla Estates' flagship project, Birla Niyaara, which was launched in the same region a few years ago, has already seen cumulative sales of over ₹5,700 crore, reinforcing the location’s appeal for luxury development.
A Legacy of Expansion
Century Textiles, established in 1897 as a textile unit, has evolved into a diversified entity with significant interests in real estate. Its wholly-owned subsidiary, Birla Estates, is a key player in premium residential and commercial real estate development, with projects across key markets including Mumbai, the National Capital Region (NCR), Bengaluru, and Pune.
In addition to its outright land purchases, Birla Estates also develops projects through asset-light joint ventures. Its commercial portfolio features two Grade-A commercial buildings in Worli, with a total of 600,000 square feet of leasable space.
With this acquisition, Century Textiles continues to capitalize on the rising demand for luxury real estate in Mumbai, further positioning itself as a leader in the sector.
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