Through the acquisition, Century Textile and Industries plans to foray into super luxury real estate market with the launch of boutique residences in the said area. Birla Estates MD & CEO K T Jithendran said, "Our acquisition of this prime plot of land in Walkeshwar is a significant milestone for Birla Estates, as it aligns perfectly with our long-term growth strategy to create a niche in the luxury housing segment".

Meanwhile, the IT department on Monday carried out searches at the premises of well-known Tamil Nadu-based real estate firm, G Square, according to official sources.

Credit Suisse revealed it suffered net asset outflows worth 61.2 billion Swiss francs ($68.6 billion) during the January-March period, which culminated in the emergency rescue by UBS. 

The bank’s Net Interest Income soared over 35 percent to Rs 2,187 crore against Rs 1,612 crore in the same quarter last year. While its asset quality also improved as it reported its gross non-performing asset at 2.47 percent, a decline of 47 basis points from 2.94 percent in the previous quarter of the same fiscal year.