Companies

Century Textiles to demerge cement arm by this quarter

Our Bureau Mumbai | Updated on July 30, 2019 Published on July 30, 2019

Kumar Mangalam Birla   -  Rajeev Bhatt

Century Textiles and Industries expects to complete the demerger of its cement business, and its merger with UltraTech Cement, by this quarter.

It recently received an order from the National Company Law Tribunal (NCLT) approving the scheme, said Kumar Mangalam Birla, Century Textiles Chairman, at the company’s AGM on Tuesday.

With the launch of Birla Estates, the company has identified real estate business as the focus area for the future, given its existing land banks at prime locations.

Birla Estates has entered the Bengaluru market with two new deals and expects to launch a project this fiscal.

Published on July 30, 2019
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