Brigade Group to Invest Rs.750 Crore in Bengaluru Commercial Space

Brigade Group Enterprises Limited is an Indian real estate and property development company headquartered in Bangalore, with operations in Mangalore, Mysore, Chennai, Kochi, Hyderabad, Chikmagalur, Ahmedabad, and a representative office in Dubai. Founded in 1986, Brigade Enterprises Ltd has created numerous landmark buildings in Bengaluru, Chennai, Hyderabad, Gift City-Gujarat, and Thiruvananthapuram, encompassing residential, office, retail, and hotel developments.

Rs. 750 crore investment in Bengaluru:

Brigade Group, a Bengaluru-based real estate developer, through its subsidiary Brigade Tetrarch Private Limited, has signed a Limited Liability Partnership (LLP) agreement to develop a ₹750-crore commercial space on Old Airport Road, Bengaluru, the company announced on August 6. The proposed commercial development will feature 1.4 million square feet of leasable space, anticipated to generate an annual lease income of ₹100 crore.

“This project demonstrates our commitment to creating world-class, tech-enabled commercial spaces equipped with essential amenities to meet the evolving needs of businesses. We believe this development will establish new benchmarks in the commercial sector and significantly contribute to the city’s economic growth,” mentioned by Nirupa Shankar, Joint Managing Director, Brigade Group. The project is strategically located on Airport Road, a key commercial hub in Bengaluru, ensuring excellent connectivity and accessibility, the real estate firm added.

Brigade group Q1 FY25 result:

Brigade Enterprises Limited reported nearly a four-fold increase in net profit for the April-June quarter of FY 2024-25, reaching ₹81 crore, up from ₹22 crore a year ago. Consolidated revenue from operations grew to ₹1,113 crore, compared to ₹685.43 crore in the same quarter last year. The company also recorded presales of ₹1,086 crore, with a sales volume of 1.15 million square feet, and an average realisation of ₹9,483 per square foot, according to a regulatory exchange filing.

Brigade group stock price:

Stock is nearly 2% up, trading at Rs. 1,178.40 per share in the intraday segment, with a high of Rs. 1,192 today.

Conclusion: Brigade Group aims to expand in Bengaluru, and this investment is expected to yield strong long-term returns.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.