Brigade Enterprises Ltd’s shares jumped 5.02 per cent after the company entered into a Joint Development Agreement (JDA) with Krishna Priya Estates Pvt Ltd and Micro Labs Ltd to undertake the development of approximately 2 million square feet of residential housing in Yelahanka, Bengaluru. The Gross Development Value (GDV) of this project is estimated at ₹2,100 crore, over 14 acres.
Pavitra Shankar, Managing Director of Brigade Enterprises Limited, said, “Our aim is to deliver a high-quality residential development befitting this prime location. The projected revenue realization upon completion is anticipated to be ₹2,100 crores. This project will be designed and executed with a focus on meeting customer preferences for quality and sustainability.”
Brigade Group has outlined a pipeline for the coming year, encompassing around 13 million square feet across Bengaluru, Hyderabad, and Chennai, 11 million square feet of this pipeline is attributed to residential projects.
The shares were up 5.02 per cent to ₹748.10 at 10.20 am on the BSE.