Birla Estates and Mitsubishi Forge Landmark Bengaluru Housing Project

Birla Estates Pvt Ltd partners with Mitsubishi Estate Co Ltd in a Rs 560 crore venture to develop a premium residential project in Bengaluru. With a 51:49 stake in the special purpose vehicle, the project spans 40 lakh square feet. Mitsubishi marks its first venture into India's residential market.

Aditya Birla Real Estate Ltd's subsidiary Birla Estates has announced a strategic collaboration with Mitsubishi Estate Co Ltd to develop a housing project in Southeast Bengaluru with an investment of Rs 560 crore.

The project is structured under a special purpose vehicle (SPV), where Birla Estates holds a 51% economic interest while Mitsubishi's affiliate, MJR Investment Pte Ltd, holds a 49% interest. The venture will oversee the construction of a premium residential complex across 40 lakh square feet.

KT Jithendran, Managing Director & CEO of Birla Estates, expressed enthusiasm over the partnership, which marks Mitsubishi's maiden venture in Indian residential real estate. Birla Estates aims to enhance its development profile through such joint ventures alongside outright land purchases, aligning with its growth strategy across key urban markets.

(With inputs from agencies.)