Project News Detail
| Project No : | 205514 |
|---|---|
| Project Title : | Birla Estates secures USD 50-mln from IFC to fund Pune, Thane projects |
| Company Name : | Private Company |
| Project Detail : | Birla Estates (BEPL), a wholly owned subsidiary of Aditya Birla Real Estate, has signed agreements to receive an investment of approx. USD 50 million (Rs 420 crore) from the International Finance Corporation (IFC), part of the World Bank Group. This funding will be allocated to two flagship developments via Special Purpose Vehicles (SPVs) controlled by Birla Estates. The Manjri project in Pune will receive Rs 148 crore, supporting the development of around 3.13 million sq. ft of saleable area. The Thane project will be bolstered by Rs 272 crore to deliver approximately 6.43 million sq. t. of saleable space. In this investment structure, Birla Estates will retain a 56 percent economic interest in each SPV, while IFC will hold 44 percent. “We are proud to welcome IFC as a valuable investor in our mission to reshape urban living through sustainable and high-quality real estate development,” MD & CEO, Birla Estates, KT Jithendran said. In Q4/FY25, Birla Estates launched five new projects across NCR, Bengaluru, and Pune, achieving its largest quarterly sales to date. The collaboration with IFC brings global expertise in sustainable investments to enhance Birla Estates’ market leadership and commitment to superior, eco-friendly developments. |
| Project Location : | Pune - Maharashtra - India |
| Project Estimation : | Refer Document |
| Status : | Announced |