Birla Estates launches Rs 1,650 crore revenue-potential project in Pune's Hinjewadi

Birla Estates Private Limited on Monday announced a new project in Hinjewadi, Pune. The company is part of the Aditya Birla Group and is a wholly owned subsidiary of Aditya Birla Real Estate. The project has been taken up through a joint development agreement (JDA).

According to the company, the project has a total revenue potential of about Rs 1,650 crore. It spreads over 5.62 acres, or about 22,737.27 square metres. It will yield roughly 1.25 million square feet of total saleable area. The company plans to build premium residential homes along with a retail component.

Hinjewadi is Pune's best-known IT and employment hub. The project is right next to the Rajiv Gandhi Infotech Park. Large campuses of technology companies such as Infosys, Wipro and Tata Technologies are also nearby. The area has very good connectivity to the Mumbai-Pune Expressway and the Mumbai-Bengaluru highway. The upcoming Hinjewadi-Shivajinagar Metro is expected to make it easier to reach central Pune.

Social infrastructure around the site is also good. A Metro station is about 500 metres away and the Grand Highstreet Mall is about 200 metres away. Major schools, colleges and hospitals are also a short distance from the project.

Birla Estates says it emphasises sustainability across its portfolio. In line with this, the project has been designed at the concept stage with IGBC Gold certification in mind.

K. T. Jitendran, MD and CEO of Birla Estates, said: "Pune has consistently been a key market for our development plans. Hinjewadi is Pune's most active residential market, and demand here is strongly supported by a large and steadily growing professional workforce. This project further strengthens our presence in Pune and shows that our focus is on fast-growing micro-markets. We intend to build premium and thoughtfully planned communities with integrated retail facilities."

The project strengthens Birla Estates' presence in Pune along with Birla Punya in central Pune and Birla Evam in Manjri. It also shows that the company's attention remains on the country's fast-growing residential markets.