Hot Pursuit
Brigade Enterprises has announced the acquisition of a 4.4-acre land parcel in Whitefield, East Bengaluru, for the development of a premium residential project.
The project is expected to have a total development potential of 0.6 million square feet and a gross development value (GDV) of approximately Rs 950 crore.
The project, located in Whitefield, East Bengaluru, will offer a range of state-of-the-art amenities and high-end specifications, designed to provide a premium lifestyle for its residents. It will feature a mix of spacious apartments tailored to meet the needs of contemporary families.
Pavitra Shankar, managing director of Brigade Enterprises, said, 'This project will not only enhance our portfolio but also offer an exceptional living experience for our customers. Strategically, this land parcel aligns perfectly with our vision for premium residential development. The deal underlines our commitment to growth, innovation, and redefining luxury living in Bengaluru. With Whitefield's prime location and robust infrastructure, we are confident this project will set new benchmarks in the segment.'
Brigade Enterprises is one of India's leading property developers. The company has developed properties in cities like Bengaluru, Mysuru, Hyderabad, Chennai, Kochi, and GIFT City with developments across residential, office, retail, hospitality, and education sectors.
The company reported a consolidated net profit of Rs 236.2 crore in Q3 FY25, which is more than 3 times the PAT of Rs 73.5 crore posted in Q3 FY24. Revenue rose by 27% YoY to Rs 1529.7 crore during the period under review.
The counter rose 0.72% to Rs 1,000.10 on the BSE.
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