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Century Textiles and Industries (CTIL) has acquired the ownership rights of a 10-acre leasehold land parcel for Rs 1,100 crore in Worli, Mumbai from Nusli Wadia.
With this transaction, the existing leasehold interest of CTIL is merged with the ownership rights.
This land will be developed through its wholly owned subsidiary, Birla Estates and adds an approximate booking value potential of Rs 14,000 crore to the company.
This acquisition also paves the way for 30-acre landholding in this area, with an overall booking value potential of approximately Rs 28,000 crore, the company claimed.
