Birla Estates Private Limited, a wholly-owned subsidiary of Aditya Birla Real Estate (formerly Century Textiles), has acquired a 70.92-acre land parcel in Boisar, a prominent industrial suburb near Mumbai, for Rs 104.3 crore, according to a company filing on December 17, as published by Money Control.
Boisar, located in the Palghar district of Maharashtra, is part of the Mumbai Metropolitan Region (MMR) and is known as the largest industrial suburb in the area.
This acquisition is part of Aditya Birla Real Estate’s broader strategy to expand its land holdings in and around Mumbai. In 2024, the company has been actively acquiring land to boost its project launches. In September, Birla Estates purchased a 24.5-acre plot near Mumbai from Hindalco for Rs 537 crore. Earlier in June, it acquired a 16.5-acre land parcel in Pune for a Rs 2,500 crore housing project. In Q2 FY25, Birla Estates reported a significant revenue surge, reaching Rs 254 crore, a sharp year-on-year increase.
During the July-September quarter, AB Real Estate also made strategic land acquisitions, including a 10-acre plot in Mumbai’s upscale Worli area, with a gross development value (GDV) of Rs 14,000 crore, and a 5-acre land parcel in Gurugram, which has a GDV of Rs 1,400 crore.
In June, the company set an ambitious target of launching real estate projects worth Rs 12,000 crore in FY25. It reaffirmed its focus on four key markets for the next two years: the Mumbai Metropolitan Region, Bengaluru, National Capital Region, and Pune. The company’s pipeline includes residential projects across these regions with a potential revenue of around Rs 54,000 crore.
In October, Nomura initiated coverage on Aditya Birla Real Estate with a “Buy” recommendation, noting that the company is well-positioned to rank among India’s top five real estate players.
India’s Tier 1 cities continue to see steady housing demand, while Tier 2 cities are emerging as new investment hubs due to ongoing infrastructure development, improving connectivity, and affordable pricing.