Business Standard
Thursday, 04 Jul 2024
Source/Reporter : Bureau
Brigade Enterprises advanced 3.45% to Rs 1414.25 after the company announced the signing of a joint development agreement (JDA) for a residential project at West Bangalore's Tumkur Road.
Spread across 8 acres, the project will encompass a total development area of about 1.2 million square feet with an estimated gross development value (GDV) of about Rs 1,100 crore.
The project, consisting primarily two and three bedroom apartments, has been planned such that it incorporates maximum lung space with lush green landscaping and a range of modern amenities. This project reflects Brigades ongoing planned investment in Bangalores real estate market, to meet the evolving needs of the dynamic urban homebuyer, the real estate developer said in a statement.
Pradyumna Krishnakumar, executive director, Brigade Enterprises, said: Bengalurus residential real estate market is experiencing tremendous growth and we are excited to be part of this growth momentum.
This project will be a significant landmark in this micro market of Tumkur Road and is in addition to our planned pipeline of over 12 million square feet of residential developments planned across Bengaluru, Chennai and Hyderabad in the coming year.
It aligns with our strategic vision to expand our presence in key growth corridors of Bangalore and our commitment to provide unparalleled living experience to our home buyers. West Bangalore is increasingly being favored for residential developments owing to its excellent connectivity and existing infrastructure.
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 consolidated net profit of Rs 206.09 crore in Q4 FY24, steeply higher than Rs 69.25 crore reported in Q4 FY23. Revenue from operation surged 102.04% to Rs 1,702.37 crore in Q4 FY24 as compared to Rs 842.57 crore recorded in the corresponding quarter previous year.
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Spread across 8 acres, the project will encompass a total development area of about 1.2 million square feet with an estimated gross development value (GDV) of about Rs 1,100 crore.
The project, consisting primarily two and three bedroom apartments, has been planned such that it incorporates maximum lung space with lush green landscaping and a range of modern amenities. This project reflects Brigades ongoing planned investment in Bangalores real estate market, to meet the evolving needs of the dynamic urban homebuyer, the real estate developer said in a statement.
Pradyumna Krishnakumar, executive director, Brigade Enterprises, said: Bengalurus residential real estate market is experiencing tremendous growth and we are excited to be part of this growth momentum.
This project will be a significant landmark in this micro market of Tumkur Road and is in addition to our planned pipeline of over 12 million square feet of residential developments planned across Bengaluru, Chennai and Hyderabad in the coming year.
It aligns with our strategic vision to expand our presence in key growth corridors of Bangalore and our commitment to provide unparalleled living experience to our home buyers. West Bangalore is increasingly being favored for residential developments owing to its excellent connectivity and existing infrastructure.
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 consolidated net profit of Rs 206.09 crore in Q4 FY24, steeply higher than Rs 69.25 crore reported in Q4 FY23. Revenue from operation surged 102.04% to Rs 1,702.37 crore in Q4 FY24 as compared to Rs 842.57 crore recorded in the corresponding quarter previous year.
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