October 30, 2025: Despite Mumbai’s growing momentum in redevelopment projects, the city’s housing market is unlikely to face an oversupply, according to Birla Estates CEO KT Jithendran. Speaking at the company’s post-earnings investor call, he said redevelopment-led supply would enter the market gradually, without triggering a sharp change in property prices.
“I think it will not flood the market, and there is a huge deluge of supply. It will come in phases and in spurts. I don’t think that’s going to really have a big impact on the pricing,” said Jithendran. He added that Birla Estates, a subsidiary of Aditya Birla Real Estate Ltd, is in advanced talks for multiple redevelopment projects across South Mumbai, Bandra, Juhu, and Khar.
“We are also pretty excited (about redevelopment) because the brand plays a very strong equity here… it gives us a very good platform to express ourselves and do great job in giving some fantastic products. We are working towards it. It takes time and patience, and we are there to solve all issues of the current members,” Jithendran said.
Addressing the company’s project pipeline, he revealed that additions worth Rs 10,000–15,000 crore in gross development value (GDV) are expected by FY26, with total ongoing and planned projects having a revenue potential of Rs 70,000 crore.
Among flagship developments, the Birla Niyaara project in Worli—a luxury residential venture with a revenue potential exceeding Rs 10,000 crore—has seen robust sales, with Tower A 95% sold and Tower B 75% sold. The company is preparing to launch Tower C soon to meet high demand.
Upcoming launches include projects in Thane and Manjri (Pune), with the Thane project now cleared to proceed following a Supreme Court ruling that overturned an earlier NGT order delaying approvals.
Source: Money Control
