Birla Green Housing

pending

Setup in 2016, Birla Estates Private Limited (“BEPL” or “Birla” or the “Company”) is a Mumbai based developer with presence across India. Company is a subsidiary of Aditya Birla Real Estate Ltd(Formerly know as Century Textiles and Industries Ltd)and part of the Aditya Birla Group (“the Group”). The Group is one of India's oldest and largest conglomerates with presence in metals, telecom, financial services, cement, fashion, retail, renewable energy, textiles, paper and real estate amongst other sectors. Company is primarily focused on the residential segment with some presence in office real estate. It has a pan India presence across North, West and South India with Mumbai as its primary market. In 8 years the Company has created an ongoing portfolio of 6.2million square feet and development pipeline of additional 23.7million square feet as on 30 June 2024. The proposed Project involves IFC investment of up to INR 4,200 million (US$50 million equivalent) in wholly owned subsidiaries (“SPVs”) of BEPL for the development of two middle-income housing projects in India (“Project”). The first project is located in Kalwa, Thane and will primarily consist of middle-income housing with some office and retail spaces. The second project will be housing projects to be mutually identified by the Company and IFC. Any project that falls into the high E&S risk category A will not be selected, and any project that might trigger IFC PS5-8 and/or involve community concerns/complaints will require additional ESAP items. The projects will include an estimated development of 6,000 – 9,000 housing units.BEPL's operations team oversees construction, while the facilities management team handles the final stages and customer handover. Once residents establish a Resident Welfare Society, BEPL transfers all responsibilities to the society, with no further involvement in operations or management..