Aditya Birla Real Estate Limited has informed the Exchange about Sale of Assets
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Aditya Birla Real Estate Limited (formerly Century Textiles and Industries) has approved the sale of remaining machineries — relating to Spinning, Yarn dyeing and Processing — from its textile plant at Jhagadia, Bharuch, Gujarat. These machineries were earlier used for the joint venture Birla Advanced Knits Private Limited, whose operations were already discontinued. The sale was carried out through e-auction and negotiation, fetching a total consideration of Rs. 22.15 crores (excluding GST), against a book value of Rs. 41.06 crores as on 31st March 2024, implying a significant notional loss of roughly Rs. 19 crores. Buyers are unrelated parties and the transaction is not a related-party deal. This follows an earlier communication in January 2025 about the sale of other textile machineries from the same plant.
The sale monetises legacy textile assets that the company had already shut down as part of its pivot to real estate, bringing in Rs. 22.15 crores of cash but at a steep discount to book value. Shareholders may see this as further cleanup of non-core, loss-making operations, though the large gap between book value and sale price is a negative on paper.