Bangalore-based publicly-held real estate developer Brigade Enterprises said they intend to develop 31 million square feet of residential, commercial and hospitality space in the next phase of growth of its development. The group has completed 25 years of its operations and has so far developed 20 million square feet of space across commercial, residential and hospitality sectors.
The group aims to develop this space in the next five years and half of that (approx 15 million square feet) in the coming 12 months of which 80 per cent would be residential and rest would be in the commercial space.
The developers presently have a debt to equity ratio of just under 0.7 per cent and plans to raise around Rs 350 crore at the Special Purpose Vehicle (SPV) level, said a company official.
The company for the last fiscal posted a topline of Rs 482 crore and a net profit of Rs 120 crore.
