Aditya Birla Estates and Mitsubishi Estate Partner for Bengaluru Housing Project

Aditya Birla Real Estate Ltd, through its subsidiary Birla Estates Private Ltd (BEPL), has entered into a joint venture with Mitsubishi Estate Co Ltd (MEC), a global investor making its first investment in India’s residential real estate market. The collaboration is part of a ₹560 crore investment in a premium housing project in southeast Bengaluru.

Project Details

The project will be developed through a special purpose vehicle (SPV), where BEPL will hold a 51% economic stake, and MJR Investment Pte Ltd (MIPL), an affiliate of MEC, will hold 49%. The residential development will span four million square feet of built-up area in one of Bengaluru’s growing localities.

BEPL’s Operations

Birla Estates, headquartered in Mumbai, focuses on residential and commercial real estate development in markets like NCR, Bengaluru, and Pune. The company adopts various development models, including outright purchases, joint ventures, and utilizing its own land parcels. Its commercial portfolio includes two Grade-A office spaces in Worli, Mumbai, covering six lakh square feet of leasable area.

Comments from Birla Estates

Speaking about the joint venture, KT Jithendran, MD and CEO of Birla Estates, noted that this partnership brings together local expertise and global insights to develop premium housing projects. He also talked about this being MEC’s first residential project in India.

Market Performance

As of 1:56 PM on January 27, shares of Aditya Birla Real Estate Ltd were trading at ₹1,893.50, up ₹14.80 (0.79%) for the day, though down by 24.32% over the past month and over 8% in the past week.

This partnership between Birla Estates and Mitsubishi Estate will bring large-scale residential development to Bengaluru.

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