Aditya Birla Real Estate Ltd, through its subsidiary Birla Estates, has announced its first redevelopment project in Mumbai’s Khar (West) in joint venture with Parinee Group. The project, valued at ₹1,700 crore (₹17 billion), spans 1.3 acres and will deliver luxury residential apartments, marking a major entry into Mumbai’s redevelopment market.
On March 27, 2026, Aditya Birla Real Estate Ltd confirmed its strategic partnership with Parinee Group to unlock redevelopment potential in Mumbai. The project is part of Birla Estates’ broader expansion strategy, which includes a pipeline of ₹13,900–14,000 crore across multiple redevelopment projects in prime Mumbai neighborhoods.
Project Details
Location: Khar (West), Mumbai.
Size: 1.3 acres of redevelopment land.
Value: ₹1,700 crore (₹17 billion).
Partnership: Joint venture with Parinee Group.
Scope: Luxury residential apartments targeting high-demand micro-markets.
Strategic Impact
Strengthens Aditya Birla Real Estate’s entry into Mumbai redevelopment space.
Unlocks significant gross development value (GDV) potential.
Enhances presence in premium housing markets.
Supports long-term growth strategy in India’s real estate sector.
Industry Context
Mumbai redevelopment projects are driving urban transformation and housing upgrades.
Demand for luxury apartments remains strong in South Mumbai, Bandra, Juhu, and Khar.
Birla Estates plans 8–9 redevelopment projects worth ₹14,000 crore in FY26.
Key Highlights
• Aditya Birla Real Estate announces first Mumbai redevelopment project in Khar (West)
• Joint venture with Parinee Group valued at ₹1,700 crore
• Project spans 1.3 acres, delivering luxury residential apartments
• Part of ₹14,000 crore redevelopment pipeline across prime Mumbai locations
• Strengthens company’s footprint in India’s premium housing market
Sources: InvestyWise, ICICIdirect, Ghar.tv