 "The year was a mixed bag for the real estate industry as housing supply slowed down but record investments came in. Industry experts believe that demand will stabilise as sales are likely to be lower compared to 2023.")
Birla Estates, a subsidiary of Aditya Birla Real Estate Ltd, is expecting a revenue of Rs 2,700 crore from its first housing project in Pune.
In a regulatory filing, Aditya Birla Real Estate informed that its subsidiary Birla Estates has launched its first project in Pune 'Birla Punya' with an estimated revenue potential value of Rs 2,700 crore.
The project is spread over 5.76 acres and will feature 1.6 million (16 lakh) sq ft of saleable area including 1,000 flats. The project will be developed in phases, with Phase 1 offering two towers and 500 units.
K T Jithendran, MD & CEO of Birla Estates, said, "As Pune's real estate market continues to be on the rise, driven by its thriving IT ecosystem and strong infrastructure development, we see that there is a growing demand for premium homes." Birla Estates has projects in Mumbai, Pune, Delhi-NCR and Bengaluru.
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