Subsidiary of Century Textiles launches a real estate project with a revenue potential of Rs 3,000 cr

Birla Estates Private Limited, the real estate arm of the Aditya Birla Group, has successfully launched Phase 1 of Birla Trimaya in Devanahalli, Bangalore. The project is expected to have a revenue potential of approximately Rs 3000 crore for the entire project. It is strategically located near the upcoming BIAL IT Investment Region and is expected to attract a diverse range of individuals including high-net-worth and non-resident investors.

Birla Estates Private Limited, a 100% wholly owned subsidiary of Century Textiles and Industries Limited is the real estate venture of the Aditya Birla Group. In a short span of time, Birla Estates has established itself as a brand of choice in the real estate industry. Birla Estates develops premium residential housing in key markets. The company is developing land parcels both through outright purchases as well as asset-light Joint Ventures apart from developing its own land parcels.

In the recent quarter Q1FY24, Century Textiles and Industries generated revenue of Rs 1106.44 crore, with a decline of 5.58% compared to the previous year. The operating profit for Q1FY24 stood at Rs 134.36 crore, marking a significant decrease of 6.32% on a YoY basis. The company’s net profit after tax (PAT) stood at a loss of Rs 1.92 crore.

Century Textiles and Industries Limited transformed from a single-unit textile entity in 1987 into a commercial powerhouse with interests in diverse industries. Currently, the business house is a trendsetter in cotton textiles and also has a remarkable presence in the Pulp and Paper and Real Estate sectors.

Today, the stock opened at Rs 1073.55, with a high and low of Rs 1098.10 and Rs 1063.15 respectively. The stock ended the trading session at Rs 1085, down by 0.09%. The stock has a 52-week high of Rs 1140 and a 52-week low of Rs 588.80. The company has a ROCE of 6.32% and an ROE of 4.65% with a market capitalisation of Rs 12,070 crore.

Investors should keep a close eye on this large-cap stock.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.