Century Textiles and Industries Limited (CTIL), part of the Aditya Birla Group, has acquired ownership rights for approximately 10 acres of prime land in Worli, Mumbai, from Mr. Nusli Wadia. The transaction, valued at ₹1,100 crore, consolidates the existing leasehold interest of CTIL into full ownership.
The company plans to develop this land through its wholly owned subsidiary, Birla Estates Pvt. Ltd., a key player in India’s luxury real estate market. With Worli’s growing prominence as a hotspot for premium real estate, this acquisition reinforces CTIL’s commitment to catering to discerning consumers seeking curated lifestyles in prime locations.
The 10-acre parcel holds a potential booking value of approximately ₹14,000 crore. In addition, it complements a larger 30-acre contiguous landholding in the same area, raising the total booking value potential to around ₹28,000 crore. Birla Estates’ flagship project, Birla Niyaara, launched a few years ago, has already been a massive success in the Mumbai Metropolitan Region (MMR), with sales exceeding ₹5,700 crore.
