Bengaluru-based Brigade Group has signed a definitive agreement for a land parcel located on Whitefield-Hoskote road. The residential project planned on this land is expected to have a gross development value (GDV) of nearly ₹2,700 crore.
The 20-acre land parcel has been acquired through Brigade’s subsidiary, Ananthay Properties Private Ltd., at a total cost of approximately ₹630 crore. The project will offer a total saleable area of about 2.5 million sq feet.
Pavitra Shankar, Managing Director of Brigade Enterprises Ltd., 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.”
Upcoming projects
In addition to this acquisition, the company has a healthy pipeline of upcoming residential projects, with approximately 12.61 million sq feet of new developments across Bengaluru, Chennai, and Hyderabad.
Founded in 1986, Brigade Enterprises Ltd. has a presence in Bengaluru, Chennai, Hyderabad, Mysuru, Kochi, Gift City-Gujarat, Thiruvananthapuram, Mangaluru, and Chikkamagaluru with developments across residential, office, retail, and hotels.
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 per cent at ₹1,138.1 crore, from ₹1,407.9 crore in Q2FY24.
The company closed its shares at ₹1,293.30, up by 1.28 per cent on the BSE.