Century Textiles Hits 52-Week High with Major Land Acquisition

Century Textiles & Industries, part of the Aditya Birla Group, witnessed a significant 7.36% surge in its stock price, hitting a new 52-week high of ₹2,528.55 on Tuesday. This rise followed the company’s announcement of acquiring ownership rights to a prime 10-acre leasehold land parcel in Worli, Mumbai, from Nusli Wadia. The acquisition, valued at ₹1,100 crore, not only strengthens Century Textiles’ real estate portfolio but also merges their existing leasehold interest with ownership rights in this prime location.

As a result of the acquisition, the market capitalization of the company surged to ₹27,700 crore, with over 0.54 lakh shares exchanging hands, translating to a turnover of ₹13.25 crore. Century Textiles has been a strong performer, delivering multibagger returns, with a 129% increase in stock price over the past year, 173% in two years, and an impressive 533% in five years.

Unlocking Massive Development Potential in Worli

This acquisition is poised to significantly impact Century Textiles' real estate arm, Birla Estates. The newly acquired land, combined with existing holdings, paves the way for a gross 30-acre contiguous land parcel in the prime Worli area. With an estimated booking value potential of ₹28,000 crore, the development is set to further boost Century Textiles' presence in the luxury real estate market. Birla Niyaara, a flagship project by Birla Estates in the same area, has already seen remarkable success, with cumulative sales of over ₹5,700 crore since its launch, making it one of the fastest-selling luxury projects in the Mumbai Metropolitan Region (MMR).

The company stated that this acquisition adds an approximate booking value potential of ₹14,000 crore to its portfolio, positioning it strongly in the real estate market, especially in the high-end luxury segment.

Century Textiles' Broader Business Portfolio

In addition to real estate, Century Textiles is involved in textiles, cement, and pulp and paper manufacturing, making it a diversified industrial player. Despite a 47.1% decline in consolidated net profit from continuing operations in Q1 FY25, the company reported a 28.36% increase in revenue from operations, totaling ₹1,139.67 crore for the same period. The firm’s real estate expansion, particularly in high-demand areas like Worli, is expected to contribute to long-term growth.

Stock Performance and Market Outlook

Century Textiles shares have been performing strongly, with a one-year beta of 1.1, indicating higher volatility compared to the market. Technically, the stock is trading above key moving averages, signaling strong momentum. The company’s real estate expansion and solid market position have made it a promising option for investors, particularly in the current environment of high demand for luxury real estate in Mumbai.