Century Textiles & Industries’ wholly owned subsidiary -- Birla Estates (BEPL) has received an approval for the proposal to acquire the land parcel situated at Kalwa, Thane, Maharashtra from Hindalco Industries (HIL) for a total consideration of about Rs 595 crore to be paid over a period of time in multiple tranches and 1.5% of the Sales Revenue. The definitive documents shall be signed in due course. The board of directors of the company at its meeting held on July 12, 2023 has approved the same.
Century Textiles & Industries is principally engaged in manufacturing of Textiles, Cement, Pulp and Paper and Real estate.
