Century Textiles and Industries Limited (CTIL) has secured ownership of approximately 10 acres of prime leasehold land in Worli, Mumbai, from Mr. Nusli Wadia. This acquisition, valued at Rs. 1100 crore, consolidates CTIL’s existing leasehold interest with full ownership rights.
The newly acquired land will be developed by CTIL’s real estate subsidiary, Birla Estates Pvt Ltd. Worli is currently a hotspot for luxury real estate, attracting high-end buyers from across South Mumbai and beyond. The acquisition positions CTIL to tap into this thriving market.
The 10-acre land parcel has an estimated booking value potential of Rs. 14,000 crore, contributing to a total contiguous landholding of approximately 30 acres in the area, with a combined booking value potential of around Rs. 28,000 crore. This includes Birla Niyaara, Birla Estates’ flagship project, which has garnered significant success with cumulative sales exceeding Rs. 5,700 crore.
Also Read: Worli Flat Sold for ₹115 Crore
The acquisition underscores CTIL’s commitment to expanding its footprint in high-value real estate and enhancing its position in the luxury market.
