Real Estate

Brigade says start-ups it has backed have delivered higher revenues

Our Bureau Bengaluru | Updated on May 17, 2019 Published on May 17, 2019

Brigade Enterprises, a Bengaluru-based listed real estate company, has been able to deliver an average hike of 111 per cent in revenues for all the 25 start-ups under its Brigade Reap, a real estate accelerator programme.

Brigade Reap is a real estate tech focused accelerator programme set up with the objective of finding and mentor tech-based solutions for the real estate industry.

Selection process

“After initiating the programme two-and-a-half years ago, we received over 1,000 applications and spoke to more than 500 technology solutions for the real estate industry. We accepted only 25 disruptive start-ups under our programme,” said Nirupa Shankar, Executive Director, Brigade Enterprises.

“About 60 per cent of these start-ups have been given live projects to work on at Brigade and 40 per cent of them went on to raise additional funds. While the industry average for an accelerator is just 10 per cent, we have been able to deliver an average increase of 111 per cent revenues for all our start-ups,” she added.

The company has equity in all these start-ups and has set a goal of accelerating more than 100 such start-ups over the next five years.

Realty performance

On the real estate development, the group is currently developing about 18.74 million square feet across residential, office, retail and hotel segments.

Launches to the extent of about 8.6 million square feet are planned for the fiscal 2019-20 across segments, including about 2.7 million square feet in the affordable housing segment.

“From a sustainability perspective, Brigade has taken the initiative to create green commercial developments as well,” Nirupa Shankar said.

Published on May 17, 2019
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