Birla Estates (BEPL), a fully-owned subsidiary of Aditya Birla Real Estate, has entered into an agreement for an investment of approximately ₹420 crore (USD 50 million) from the International Finance Corporation (IFC), which is a member of the World Bank Group.
IFC is set to invest around ₹148 crore in the company’s Manjri project located in Pune, which encompasses approximately 3.13 million square feet of saleable area, and about ₹272 crore in its Thane project, which has approximately 6.43 million square feet of saleable area. The developments will be executed through two special purpose vehicles (SPVs) that are owned and managed by Birla Estates.
The investment from IFC will be directed into these SPVs, which will act as the development platform for both projects. According to this structure, Birla Estates will maintain a 56% economic interest, while IFC will possess a 44% economic interest in the SPVs. In the fourth quarter of FY25, BEPL initiated five projects across the National Capital Region (NCR), Bengaluru, and also made its entry into the Pune market.
