Birla Estates Secures $50 Million From IFC for Housing Projects
10 Jun 2025
2 Min Read
CW Team
Birla Estates Private Limited (BEPL), a wholly owned subsidiary of Aditya Birla Real Estate Limited (formerly Century Textiles and Industries Limited), has signed agreements for a USD 50 million (around Rs 4.2 billion) investment from the International Finance Corporation (IFC), a member of the World Bank Group. This marks a significant step in Birla Estates鈥� mission to deliver sustainable, high-quality real estate projects across India.
The investment will be channelled into two major developments. Approximately Rs 1.48 billion will go into the Manjri project in Pune, featuring a saleable area of around 3.13 million square feet. A further Rs 2.72 billion will support the Thane project, which has a saleable area of roughly 6.43 million square feet. Both projects will be developed through Special Purpose Vehicles (SPVs) fully owned and managed by Birla Estates.
Under the terms of the agreement, Birla Estates will retain a 56 per cent economic interest in the SPVs, while IFC will hold the remaining 44 per cent. This structure enables IFC鈥檚 strategic involvement in the development while allowing Birla Estates to maintain operational leadership.
Commenting on the development, Mr K. T. Jithendran, Managing Director and CEO of Birla Estates, stated, 鈥淲e are proud to welcome IFC as a valued partner in our effort to redefine urban living through sustainable development. This collaboration affirms our design-led, sustainability-driven approach and enhances our capacity to scale responsibly.鈥�
IFC鈥檚 Regional Director for South Asia, Imad N. Fakhoury, noted, 鈥淗ousing drives jobs, resilience, and economic growth. Our partnership with Birla Estates will help close the housing gap in India by making sustainable, high-quality homes more accessible, particularly for first-time buyers. This aligns with India鈥檚 net-zero goals and supports private sector growth in real estate.鈥�
The investment arrives on the back of strong momentum for Birla Estates. In the final quarter of FY25, the company launched five new projects across its key markets in the National Capital Region, Bengaluru, and Pune, recording its highest-ever quarterly sales performance. The IFC investment further strengthens Birla Estates鈥� financial foundation as it scales its presence across India鈥檚 most dynamic urban centres.
Birla Estates Private Limited (BEPL), a wholly owned subsidiary of Aditya Birla Real Estate Limited (formerly Century Textiles and Industries Limited), has signed agreements for a USD 50 million (around Rs 4.2 billion) investment from the International Finance Corporation (IFC), a member of the World Bank Group. This marks a significant step in Birla Estates鈥� mission to deliver sustainable, high-quality real estate projects across India.The investment will be channelled into two major developments. Approximately Rs 1.48 billion will go into the Manjri project in Pune, featuring a saleable area of around 3.13 million square feet. A further Rs 2.72 billion will support the Thane project, which has a saleable area of roughly 6.43 million square feet. Both projects will be developed through Special Purpose Vehicles (SPVs) fully owned and managed by Birla Estates.Under the terms of the agreement, Birla Estates will retain a 56 per cent economic interest in the SPVs, while IFC will hold the remaining 44 per cent. This structure enables IFC鈥檚 strategic involvement in the development while allowing Birla Estates to maintain operational leadership.Commenting on the development, Mr K. T. Jithendran, Managing Director and CEO of Birla Estates, stated, 鈥淲e are proud to welcome IFC as a valued partner in our effort to redefine urban living through sustainable development. This collaboration affirms our design-led, sustainability-driven approach and enhances our capacity to scale responsibly.鈥滻FC鈥檚 Regional Director for South Asia, Imad N. Fakhoury, noted, 鈥淗ousing drives jobs, resilience, and economic growth. Our partnership with Birla Estates will help close the housing gap in India by making sustainable, high-quality homes more accessible, particularly for first-time buyers. This aligns with India鈥檚 net-zero goals and supports private sector growth in real estate.鈥漈he investment arrives on the back of strong momentum for Birla Estates. In the final quarter of FY25, the company launched five new projects across its key markets in the National Capital Region, Bengaluru, and Pune, recording its highest-ever quarterly sales performance. The IFC investment further strengthens Birla Estates鈥� financial foundation as it scales its presence across India鈥檚 most dynamic urban centres.
Next Story
Karnataka Alters Clause to Allow Delay in Contractor Payments
The Karnataka government has modified a critical clause in its standard tender documents, allowing departments the option to delay payments to contractors for public works. This move by the Siddaramaiah administration comes amid rising tensions with contractors over unpaid dues amounting to Rs 320 billion (approximately 拢3 billion).Since April 2007, standard tender documents mandated that government departments pay contractors within 60 days of bill submission. The clause previously read: 鈥淭he employer (government department) shall pay the contractor within 60 days of the submission of bill..
Next Story
SEPC Wins Rs 6.5 Billion Solar Project in Maharashtra
SEPC Ltd announced on Wednesday that it has secured a Letter of Award (LoA) valued at Rs 6.5 billion (approximately 拢62 million) from Parmeshi Urja Ltd for the engineering, procurement, and construction (EPC) of a 133-megawatt (AC) solar power project across Maharashtra.The project will span 26 locations within four districts in the western Indian state and was awarded by Parmeshi Urja, a renewable energy firm headquartered in Kolkata. The LoA was received by SEPC on the evening of 10 June, according to the company鈥檚 regulatory filing.Execution timelines will be determined through kick-off ..
Next Story
India Approves Rs 64 Billion Rail Doubling Projects
The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, has approved two key railway multi-tracking projects with a combined estimated cost of Rs 64.05 billion (approximately 拢610 million). These projects are part of the Indian Railways鈥� broader push to enhance capacity and efficiency under the PM Gati Shakti National Master Plan.The first project involves doubling the Koderma鈥揃arkakana railway line, covering 133 km through Jharkhand鈥檚 major coal-producing region. This route also offers the shortest and most efficient rail connection between Patna and ..
