B K Birla, the owner of Rs 10000-crore Birla group has announced a raise in its holding in the group companies including Mangalam Cement, Century Enka and Kesoram in next three years. Mr. Birla, on the side lines of Annual General Meeting of Century Enka, said, "In two companies where promoters holding is close to 25 per cent stake would be increased to 40 per cent in three years."

Currently, promoters hold 24.4 per cent in Centuary Enka; and 26.36 per cent in Kesoram, as per group's filing before the Bombay Stock Exchange. Similarly, promoters of the group own 29.88 per cent and 27.07 per cent in Mangalam Timber and Mangalam Cement respectively.

Mr. Birla called for an increase in holdings in the Birla group companies to about 50 per cent over the next couple of years. He said: "It is desirable to increase promoter holding in group companies to half (50 percent) of company shares where we have low holdings." Currently, Century Extrusion is the group's only company in which promoters hold more than 50 per cent.

The 88-year old group chairman said that the promoters of group have been increasing 5 per cent holding each year in the group's companies.