Aditya Birla Real Estate’s joint venture -- Birla Advanced Knits (BAKPL) has entered into an agreement with RSWM (buyer) for sale of all its plant and machineries along with accessories and spares for cash consideration of Rs 54.11 crore resulting in the closure of the operations of the Joint Venture.
Equity investment of the Company in the Joint Venture is Rs 114 crore, which has been provided in the last financial year 2024-25. In view of non-viability of knit fabric business operations due to economic disadvantages and huge operational costs, BAKPL has discontinued and ceased its business operations and executed an agreement for sale of all its machineries to the buyer.
Birla Advanced Knits is a joint venture of Aditya Birla Real Estate and Grasim Industries.
Aditya Birla Real Estate (formerly Century Textiles and Industries) is principally engaged in manufacturing of Textiles, Cement, Pulp and Paper and Real estate.
