The real estate branch of Aditya Birla Group, Aditya Birla Real Estate Ltd (ABREL), on Monday (October 13), said its joint venture, Birla Advanced Knits Private Ltd (BAKPL), has closed its operations at Jhagadia in Gujarat following the sale of all plant and machinery to RSWM Ltd for ₹54.11 crore in cash.

The sale agreement was executed on October 13, 2025, marking the complete closure of the joint venture’s knit fabric business by the end of the same day. The company said BAKPL, a joint venture between Aditya Birla Real Estate and Grasim Industries Ltd , discontinued its operations due to non-viability arising from economic disadvantages and high operational costs.

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ABREL had previously disclo

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