Century Textiles and Industries, part of the BK Birla Group, plans to start commercial real estate development at its Worli mill land and will float a separate division to control it, a senior executive told ET.
Century Textiles is fighting a legal battle with the Wadias for control of 10 acre of land on the same Worli mill property. Century has 40 acre land in Worli, including the 10 acre leased to it by the Wadias.
In an exclusive interaction with ET, RK Dalmia, senior president, Century Textiles, said: We have almost finalised the plan, which is expected to be approved within a month. We will develop commercial complexes that will be leased to banks, financial institutions and for other commercial purposes. Century Textiles also has interests in cement and pulp and paper manufacturing businesses.
More : economictimes.indiatimes.com
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