IFC Invests ₹420 Crore in Birla Estates Housing Projects in Thane and Pune

The International Finance Corporation (IFC), a member of the World Bank Group, has announced a substantial investment of ₹420 crore in two residential real estate projects being developed by Birla Estates (BEPL), a wholly-owned subsidiary of Aditya Birla Real Estate.

Strategic Investment Covers 9.5 Million Square Feet Development

The investment will support the development of approximately 9.5 million square feet of saleable area across two strategic locations—Thane and Pune—through separate special purpose vehicles (SPVs) jointly owned by IFC and Birla Estates.

Under the investment structure, IFC will hold a 44% economic interest in these SPVs, while Birla Estates will retain a 56% stake, creating a balanced partnership approach for project execution and risk management.

Project-Wise Investment Distribution

The Thane project, comprising around 6.43 million square feet, will receive approximately ₹272 crore of the total investment. Meanwhile, the project located in Pune's Manjri area, spanning around 3.13 million square feet, will receive ₹148 crore.

This investment pattern reflects the varying scale and market dynamics of both locations, with the larger Thane real estate project receiving proportionally higher funding allocation.

Focus on Sustainable Housing and First-Time Homebuyers

Imad N Fakhoury, regional director for South Asia at IFC, emphasized the strategic importance of the investment, stating that "Housing is a powerful driver of jobs, resilience, economic growth—and a key priority for IFC."

He further highlighted that "Our partnership with Birla Estates will bridge the gap in India's housing sector by expanding availability of and access to sustainable, high-quality housing for the country's growing population, with a focus on first-time homeowners."

Strengthening India's Affordable Housing Ecosystem

This investment aligns with India's growing demand for quality residential developments and supports the government's focus on affordable housing initiatives across major urban centers.

The partnership between IFC and Birla Estates demonstrates international confidence in India's real estate sector and the potential for sustainable housing development in key growth markets like Pune's expanding real estate landscape.

The investment is expected to contribute significantly to employment generation, local economic development, and the overall growth of residential infrastructure in both Thane and Pune markets, supporting India's urbanization and housing accessibility goals.