Century Textiles and Industries, a part of the Aditya Birla Group, saw its shares surge by over 7% to a record high of ₹2,689 on the National Stock Exchange (NSE). This rise came after the company announced its acquisition of a significant 10-acre leasehold land parcel in Worli, Mumbai.
The land, bought from Wadia Group chairman Nusli Wadia for ₹1,100 crore, marks a strategic expansion for Century Textiles as the firm continues to bolster its real estate presence. Investors who buy shares online have witnessed impressive returns as this acquisition boosts the company’s market value.
Acquisition solidifies ownership and expands potential
With this transaction, Century Textiles merged its existing leasehold rights with the ownership rights of the land. Birla Estates Pvt Ltd, a wholly-owned subsidiary of Century Textiles, will handle the acquisition. The company stated that this move opens the door to a contiguous holding of nearly 30 acres, creating substantial growth opportunities.
The 10-acre land parcel itself has a booking value potential of ₹14,000 crore, while the combined area holds a staggering ₹28,000 crore in booking potential. This includes the company’s luxury housing project, Birla Niyaara, which has already recorded ₹5,700 crore in sales.
Worli's luxury real estate appeal
Worli, a prime location in South Mumbai, has become a hotspot for luxury real estate developments. Century Textiles’ acquisition strengthens its foothold in this lucrative market as demand for premium housing in the area continues to rise. The company’s statement highlighted that Worli’s appeal is not limited to buyers in South Mumbai but extends beyond, making it a highly sought-after location for real estate investment.
Transition to a real estate powerhouse
Century Textiles, through Birla Estates, is rapidly transforming into a key player in the real estate sector. Its focus is on premium and luxury developments across major cities such as Mumbai, Bengaluru, the National Capital Region (NCR), and Pune. This strategic shift, paired with major acquisitions like the one in Worli, signals the company’s ambition to capitalise on the booming demand for luxury housing in India.
Stock surge backed by strong volumes
Heavy trading volumes supported the surge in Century Textiles stock. A combined total of 22 lakh shares of the company were traded on the NSE and BSE, significantly higher than the one-month average of 6 lakh shares. At 10:45 am, the company’s stock was trading at ₹2,662.95 on the NSE, reflecting a 7% gain for the day.
Year-to-date performance impresses investors
Century Textiles’ stock has more than doubled in value this year, delivering a 106% return to investors. Over the past 12 months, the stock has surged by 147%, far outpacing the Nifty index, which saw a more modest gain of 28% during the same period. This performance has cemented Century Textiles as one of the top-performing stocks, attracting significant interest from both institutional and retail investors.
For those looking to capitalise on this growth, Century Textiles is clearly becoming a leading player in the luxury real estate market. As the company continues to expand its portfolio and enhance its market presence, it remains an attractive option for investors looking to buy shares online.
For android only