Brigade Group’s New Bengaluru Project: Realty firm Brigade Enterprises has acquired 20-acre land in Bengaluru for about Rs 630 crore to develop a housing project. In a regulatory filing, the company has signed a definitive agreement for a prime land parcel located on Whitefield-Hoskote Road, Bengaluru.
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The company said about the Brigade Group’s New Bengaluru Project.
Spanning about 20 acres, the residential project will have a total saleable area of approximately 2.5 million (25 lakh) sq ft, a Gross Development Value (GDV) of about Rs 2700 crore, and a total land cost of about Rs 630 crore, through its subsidiary Ananthay Properties Pvt Ltd,” the company said.
MD of Brigade Enterprises Limited Said On Brigade Group’s New Bengaluru Project
Pavitra Shankar, Managing Director of Brigade Enterprises Ltd, said the company remains focused on acquiring prime land in key markets to strengthen its land holdings. “This Brigade Group’s New Bengaluru Project plays a significant role in supporting our long-term residential expansion strategy. We are committed to developing a property that upholds the highest standards of quality and sustainability while meeting the evolving needs and preferences of our future residents,” she said.
In the recent past, there has been a surge in the number of multinational companies that have chosen to set up shop in North Bengaluru, creating a demand for skilled talent. This in turn has fuelled the growth and demand for high quality, sustainable real estate in the region,” Amar Mysore, Executive Director, Brigade Enterprises said.
About the Company
- The Brigade Group of enterprises was established in 1986
*Brigade Enterprises Ltd is one of India’s leading real estate developers. - The company has developed many projects across Bengaluru, Chennai, Hyderabad, Mysuru, Kochi, Gift City-Gujarat, Thiruvananthapuram, Mangaluru and Chikkamagaluru with developments across residential, office, retail and hotels.
- Brigade Group also has a healthy pipeline of upcoming residential projects, with about 12.61 million (126.1 lakh) square feet of new developments across Bengaluru, Chennai, and Hyderabad.
- Financial performance: The company reported a consolidated profit after tax (PAT) up by 2 percent year-on-year (YoY) at ₹115 crore for Q2FY25 from ₹112.5 crore in the previous year period. Its revenue decreased by 19 percent at ₹1,138.1 crores, from ₹1,407.9 crores in Q2FY24.
- Share performance: The company closed its shares at ₹1,293.30, up by 1.28 percent on the BSE.
🏡 Brigade Group to Develop a ₹2,700 Cr Residential Project in Bengaluru
— AoI Ventures (@aoiventures) January 3, 2025
Location: Whitefield-Hoskote Road, Bengaluru
Project Details:
🔹Spread over ~20 acres
🔹Total saleable area of ~2.5 Mn Sqft
🔹Gross Development Value (GDV): ₹2,700 Cr
🔹Land cost: ₹630 Cr (via… pic.twitter.com/xIHyS9fs8u
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