Tell us a little bit about your flagship project in Worli.
This is our maiden launch. Birla Niyaara is a premium flagship development and spread across 14 acres. This unique product is one of the largest integrated development in Mumbai’s most sought-after location, Worli. We intend to create a new landmark across the Mumbai skyline with Birla Niyaara. As a company, our focus has always been customer-centric, design, technology, and execution excellence and armed with these we have curated an aspirational and urban lifestyle for our customers.
We heard that there are plans to invest over Rs 500 cr to develop a project in Gurgaon. Can you expound?
Yes. That project, Birla Navya, located along Gurgaon’s Golf Course Extension Road, is spread across 10 acres of the total 47 acres. We are investing Rs 550 crore and have already committed about Rs 400 crore to the JV partner in Delhi-NCR for the entire 73 acre land parcel. This project should be complete by 2024 or 25. To be developed in phases, the first phase will offer 300 units of 2-, 3-, and 4-BHK premium floor residences. As a gated community, it will be developed over three phases, and we have already recorded Rs 100 crore worth of bookings within launching Phase I. This is the first time we are getting into a joint development and we would like to continue this as it works well for us. I think that in the future too, we will look for development partners. Our focus is ensuring timely delivery, quality projects and ensuring that we stay within costs.
You have significant land parcels across the country. Can you tell us a little more about them?
We have stayed ahead of the times and realised that if we are going to be serious about being known as a real estate developer, we need to have land parcels. Today, we have a portfolio of 200 acres and that includes 40 acres of textile mill lands in Worli, around 45 acres in Pune, some 125 acres in Kalyan, and two acres of land along the beach in Prabhadevi in Mumbai, not to forget the land parcels owned by our subsidiary Century Rayon.
You have sold a significant number of houses accruing over Rs 1000 cr. Do you want to tell us about that?
We sold around 152 homes at Birla Niyaara and this success is encouraging us to announce the second tower. We had launched the first tower with 400 units in December. The second tower launch will only be announced after a larger inventory of the first tower has been off-loaded.
