Birla Estates Hits Rs 1,600 Cr Sales in Gurugram Project

Birla Estates, a wholly owned subsidiary of Aditya Birla Real Estate Ltd. has registered Phase 2 of its high-end residential development, Birla Arika in Gurugram with bookings greater than Rs 1,600 crore in one month only.

The company recorded an impressive sales record as indicated by a regulatory filing dated April 7 where almost 97 percent of the inventory of 152 out of 156 units has sold within a month of its launch. The high absorption shows the long-term demand of high-end housing in the National Capital Region (NCR), especially among urban consumers, who are interested in design-driven, quality living environments.

Key Highlights

• Birla Estates clocks Rs 1,600 crore bookings in one month
• 97% units of Birla Arika Phase 2 sold quickly
• Strong luxury housing demand in Gurugram continues

The development is strategically situated in Sector 31, Gurugram, as a low-density luxury project, focusing on large green areas and designed lifestyle facilities. Its accessibility to major business centers like Cyber City, Golf course road, and Udyog Vihar and the established social infrastructure make it a more desirable residential area.

K.T. Jithendran, Managing Director and CEO at Birla Estates, remarked that the strong reception indicates that there is an increasing demand towards quality and well-planned residential real estate. He stressed that the success of the project is an indication of the company being committed to providing differentiated developments in a competitive market.

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The performance is a continuation of the successes of the company previously, with Phase 1 of Birla Arika incurring sales of about Rs 3000 crore. It has also had a recent project, Birla Pravaah, Sector 71, which registered bookings over Rs 1,800 crore in 24 hours of opening.

The company has been enjoying a firm traction in its luxury portfolio in NCR, which is fueled by the changing preferences of homebuyers towards bigger and lifestyle-focused homes. In the meantime, Aditya Birla Real Estate shares finished the day slightly above at Rs 1,180.50, but the stock has fallen by 34.5% in a year.