Shares of Brigade Enterprises Ltd were trading in the green and 1% higher on 6 January after the company announced signing a definitive agreement for a prime land parcel situated on Whitefield-Hoskote Road, Bengaluru, for developing a residential project spanning 20 acres.
In its regulatory filing, the company said that the residential project will have a total saleable area of around 2.5 million square feet with a gross development value (GDV) of Rs 2,700 crore and a total land cost of around Rs 630 crore through the company’s subsidiary Ananthay Properties Private Limited.
The residential project will be designed in line with the company’s commitment to deliver high-quality, sustainable spaces that align with the city’s dynamic urban landscape.
The company has a healthy pipeline of upcoming residential projects with around 12.61 million square feet of new developments across Chennai, Bengaluru, and Hyderabad.
Pavitra Shankar, managing director of Brigade Enterprises, said, “We remain focused on acquiring prime land in key markets to strengthen our land holdings. This 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.”
Founded in 1986, Brigade Enterprises Ltd. is a prominent property developer in India, boasting nearly four decades of experience in creating exceptional experiences and earning the trust of its customers and stakeholders.
The company has been instrumental in shaping city skylines by delivering iconic developments across Bengaluru, Chennai, Hyderabad, Mysuru, Kochi, Gift City-Gujarat, Thiruvananthapuram, Mangaluru, and Chikkamagaluru. Its diverse portfolio spans residential, office, retail, and hospitality projects.
However, at 11:32 pm, the shares of Brigade Enterprises were trading 2.84% higher at Rs 1,258.20 on NSE.
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