Birla Estates raises $50-M from IFC for two projects

Mumbai-based Birla Estates Pvt Ltd (BEPL), a wholly owned subsidiary of publicly listed Aditya Birla Real Estate Ltd, has raised USD 50 million (INR 420 crore) investment from International Finance Corporation (IFC) to be directed towards two developments. About INR 148 crore will be used in Birla Estates’ Manjri project (Pune) having approx. 3.13mn sq. ft saleable area and about INR 272 crore in Birla Estates’ Thane project with approx. 6.43mn sq. ft saleable area.