📋 Tender Overview
Project Number
49282
Company Name
Birla Estates Private Limited
Date ESRS Disclosed
Jun 9, 2025
Country
India
Region
South Asia
Last Updated Date
Environmental Category
B
Status
Pending Signing
Previous Events
Approved : Dec 13, 2024
Sector
other
Industry
other
Department
Regional Industry - MAS Asia & Pac
Project Description
Setup in 2016, Birla Estates Private Limited ( BEPL or Birla or the Company ) is a Mumbai based developer with presence across India. Company is a subsidiary of Aditya Birla Real Estate Ltd(Formerly know as Century Textiles and Industries Ltd)and part of the Aditya Birla Group ( the Group ). The Group is one of India's oldest and largest conglomerates with presence in metals, telecom, financial services, cement, fashion, retail, renewable energy, textiles, paper and real estate amongst other sectors. Company is primarily focused on the residential segment with some presence in office real estate. It has a pan India presence across North, West and South India with Mumbai as its primary market. In 8 years the Company has created an ongoing portfolio of 6.2million square feet and development pipeline of additional 23.7million square feet as on 30 June 2024.
The proposed Project involves IFC investment of up to INR 4,200 million (US$50 million equivalent) in wholly owned subsidiaries ( SPVs ) of BEPL for the development of two middle-income housing projects in India ( Project ). The first project is located in Kalwa, Thane and will primarily consist of middle-income housing with some office and retail spaces. The second project will be housing projects to be mutually identified by the Company and IFC. Any project that falls into the high E&S risk category A will not be selected, and any project that might trigger IFC PS5-8 and/or involve community concerns/complaints will require additional ESAP items. The projects will include an estimated development of 6,000 – 9,000 housing units.
BEPL's operations team oversees construction, while the facilities management team handles the final stages and customer handover. Once residents establish a Resident Welfare Society, BEPL transfers all responsibilities to the society, with no further involvement in operations or management..
Overview of IFC's Scope of Review
IFC conducted an environmental and social (E&S) due diligence for the project, which involved the following activities: i) desktop review of BEPL's E&S related documents and information; ii) site visit to BEPL's corporate head office in Mumbai in April 2024; iii) site visit to the Thane land parcel; iv) site visit to under-construction project, Niyara, in Mumbai; v) site visit to the under-construction project, Vanya, in Mumbai; vi) site visit to the labor camp facility in Mumbai for the Niyara project; vii) conference calls with company management, including one with the third-party labor law compliance manager for the Vanya site; and viii) interviews with staff, including E&S team,
