Birla Estates, a real estate company, has secured Rs 420 crore from the International Finance Corporation (IFC) to finance two projects in the Mumbai Metropolitan Region and Pune. The investment will support the development of sustainable and high-quality housing.
The funds will be directed towards two key projects: Birla Estates’ Manjri project in Pune with a saleable area of 3.13 million sq ft, and the Thane project with a saleable area of 6.43 million sq ft. The projects will be developed through two Special Purpose Vehicles (SPVs) owned and controlled by Birla Estates.
“Every investment validates our development philosophy and strengthens our ability to scale responsibly,” said K T Jithendran, MD & CEO, Birla Estates. “With IFC’s global expertise in sustainable investments and our deep-rooted market insights, we aim to set new benchmarks in Indian real estate.”
Imad N Fakhoury, Regional Director for South Asia, IFC, said, “Housing is a powerful driver of jobs, resilience, economic growth — and a key priority for IFC. Our partnership with Birla Estates will bridge the gap in India’s housing sector by expanding availability of and access to sustainable, high-quality housing for the country’s growing population, with a focus on first-time homeowners.”
The investment will enable Birla Estates to expand its presence in India’s most sought-after real estate markets. In the last quarter of 2024-25, the company launched 5 projects across its key markets and recorded its biggest quarter sales.
Image Courtesy: The Economic Times
