Brigade Enterprises shares were trading in the green during the early trading hours on 7 December after the company signed a joint development agreement for the development of a premium A-grade office space in Bengaluru’s central business district.

The company’s regulatory filing said, “Brigade Group has entered into a joint development agreement (JDA) to develop a premium ‘Grade A’ office space on Sankey Road in Bengaluru’s Central Business District. With a developable area of around 0.20 million square feet, the project has a Gross Development Value of around Rs 500 crore.”

The development aligns seamlessly with the company’s commitment to expanding its commercial portfolio.

Nirupa Shankar, Joint Managing Director of Brigade Enterprises, said, “This is a marquee property, and we are happy to be developing it. Further, we are confident that this project will perfectly align with the growing need of an ideal solution for professionals seeking top-tier work facilities.”

Brigade Hotel Ventures, a subsidiary of the company, has also signed off the first ibis Styles in Mysuru that is scheduled to be launched in Q3 of FY 24-25 and will have 130 rooms.

Earlier this month, the company also launched a joint development residential project in Bengaluru, “Brigade Sanctuary”, that spreads across 14 acres. The project has a gross revenue potential of Rs 2,000 crore, and the total development area of the residential project will be around 2 million square feet.

At 12:08 pm, the shares of Brigade Enterprises were trading 0.82% lower at Rs 840 on NSE.