Brigade Group

Realty firm Brigade Enterprises Ltd on Wednesday reported an 11 per cent decline in its consolidated net profit to Rs 118.98 crore in the September 2024 quarter. Its net profit stood at Rs 133.50 crore in the year-ago period. Total income also fell to Rs 1,138.13 crore in the second quarter of this fiscal compared to Rs 1,407.92 crore in the corresponding period of the preceding year, according to a regulatory filing. Bengaluru-based Brigade Enterprises is one of the leading real estate developers in the country.

Realty firm Brigade Group on Thursday said it will develop a mixed-use project in Chennai with an estimated revenue of Rs 800 crore. In a regulatory filing, Brigade Group said it has signed a Joint Development Agreement (JDA) to develop a residential project of around one million sq ft in Chennai. The project will be developed as part of a 1.5 million sq ft mixed use development. The project will have a gross development value (GDV) of about Rs 800 crore, Brigade said in a statement. "This joint development agreement for a 1 million sq ft residential development, forming part of a larger mixed-use development, underscores our commitment to the city's growth and our vision to deliver world-class residential, commercial, retail and hospitality spaces," Brigade Enterprises Managing Director Pavitra Shankar said. By inking this strategic joint development, Brigade Group said it has further solidifies its position as a leading real estate developer in Chennai. Established in 1986, Bri

Brigade Hotel Ventures Ltd, owner and developer of hotels in South India, has filed draft papers with capital markets regulator Sebi to raise Rs 900 crore through an initial public offering (IPO). The proposed IPO is entirely a fresh issue of equity shares with no Offer-for-Sale (OFS) component, according to the draft red herring prospectus (DRHP). Proceeds from the issue to the tune of Rs 481 crore will go towards payment of debt, Rs 412 crore will be allocated to the company and Rs 69 crore to its material subsidiary, SRP Prosperita Hotel Ventures Ltd. Additionally, Rs 107.52 crore will be used to purchase an undivided share of land from the Promoter, BEL, and the remaining funds will support acquisitions, other strategic initiatives, and general corporate purposes. The company may raise up to Rs 180 crore through a Pre-IPO Placement. If the placement is undertaken, the issue size will be reduced. Brigade Hotel Ventures Ltd is a wholly-owned subsidiary of Brigade Enterprises Lt

Additionally, the company's Q1 FY25 revenue included Rs 707 crore from real estate, Rs 259 crore from leasing, and Rs 118 crore from hospitality

The uptick in share price came after the company announced that its arm has launched a new residential project, Cobalt

Bengaluru-based real estate company aims to double growth in Chennai

Shankar talks about the company's strategic business initiatives, meticulous product development, and expansion plans

In the real estate segment, Brigade achieved its strongest performance ever for Q3 of a financial year with sales of 1.7 million square feet with a sale value of Rs 1,524 crore

Since November, the stock of the real estate company has zoomed 60 per cent as it had reported a strong operational performance for the September quarter (Q2FY24)

Former hospitality and real estate professional Siddharth Verma has been appointed general manager (GM) to oversee the planned expansion of BuzzWorks

Realty firm Brigade Enterprises will launch 10 housing projects this fiscal across Bengaluru and Chennai with an estimated construction cost of Rs 3,000 crore as it looks to encash rising demand for residential properties, its MD Pavitra Shankar said. In an interview with PTI, she sounded extremely bullish on India's residential market and said the company would like to grow housing sales by 15-20 per cent during the current 2023-24 fiscal. "Overall, the last financial year was very good, primarily driven by our residential and hospitality business. Things in retail were also very good and office was quite stable," Pavitra said. Bengaluru-based Brigade Enterprises achieved a record sales bookings of Rs 4,109 crore, mostly housing with small portion of commercial properties, a 36 per cent growth from the 2021-22 financial year. In terms of area also, sales bookings grew by 34 per cent to a record 6.3 million square feet. "I think it's reflective of general demand by customers," sh

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Listed players such as Brigade, Sobha, Puravankara seek reduction across all budget segments

Prestige Estates Projects Ltd has partnered with Brigade group to jointly develop a commercial project, comprising a shopping mall and a hotel, in Bengaluru

The 14-storeyed Rs 2.5-billion project, which is coming up in Gujarat International Finance-Tec (GIFT) City, will have the National Stock Exchange (NSE) as its anchor tenant