Brigade to Develop 2 million square feet with a Gross Development Value of Rs 2,100 crores in Yelahanka, Bengaluru

Brigade Group has signed a Joint Development Agreement (JDA) with Krishna Priya Estates Pvt. Ltd. and Micro Labs Ltd to develop around 2 million square feet of residential housing in Bengaluru with a Gross Development Value (GDV) of Rs. 2,100 crores. Located in Yelahanka in North Bengaluru and spread over 14 acres, the JDA will add to Brigade Group's residential portfolio in the city. Yelahanka is a very fast-growing residential hub in Bengaluru, with excellent infrastructure in place and great connectivity.

"We are extremely happy to develop one of the most sought-after properties in Bengaluru today. We will create a wonderful residential development worthy of the marquee location. We anticipate the project to yield a revenue realization of Rs. 2,100 crores on completion. This project will be designed and executed keeping in mind customer preferences for quality and sustainability." said Ms. Pavitra Shankar, Managing Director, Brigade Enterprises Limited.

Brigade Group has a strong pipeline over the next year, of around 13 million square feet in Bengaluru, Hyderabad, and Chennai, of which 11 million square feet is from residential projects.

Shares of Brigade Enterprises Limited was last trading in BSE at Rs. 714.00 as compared to the previous close of Rs. 735.35. The total number of shares traded during the day was 8913 in over 693 trades.

The stock hit an intraday high of Rs. 735.70 and intraday low of 711.00. The net turnover during the day was Rs. 6444511.00.

Source : Equity Bulls

Keywords

BrigadeEnterprises INE791I01019 JDA ResidentialHousingProject Bengaluru Yelahanka