Brigade Enterprises said that it has signed Joint Development Agreement (JDA) to develop a residential project on old madras road, Bengaluru with gross development value of Rs 720 crore.
The said project spread across 6.9 acres with a total development potential of around 0.8 Mn Sqft.The main USP of the project is its proximity to micro-markets like Indiranagar and Whitefield, in addition to good connectivity to other important parts of the city. The said project will be in line with the companys innovative design, commitment to sustainability and amenities that for a contemporary living experience.
Pavitra Shankar, managing director of Brigade Enterprises, said, We continue to see sustained demand for housing, driven by the need for homes with more space and practical amenities in strategic locations. This new residential development reflects our ongoing efforts to meet this demand by delivering quality homes that cater to customers' needs. Another step in our plan to create vibrant communities and enhance the living experience for residents.
Brigade Enterprises is one of Indias leading property developers. The company has developed properties in cities like Bengaluru, Chennai, Hyderabad, Mysuru, Kochi, Gift City-Gujarat, Thiruvananthapuram, Mangaluru and Chikkamagaluru with developments across residential, office, retail and hotels.
The company reported 31% rise in consolidated net profit to Rs 55.8 crore on a 41% increase in revenue to Rs 1,208.2 crore in Q3 FY24 as compared with Q3 FY23.
The scrip rallied 6.24% to end at Rs 1,267.80 on Thursday, 23 May 2024.
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