Brigade Enterprises Acquires 20-Acre Land in Bengaluru for ₹2,700 Crore Residential Project

Brigade Enterprises Ltd., located in Bengaluru, purchased the 20-acre land on the Whitefield-Hoskote road in Karnataka, India, to raise residential construction for guts amounting to ₹2,700 crores. It was revealed on January 3, as a regulatory filing. The company, via its subsidiary Ananthay Properties Private Limited, intends to build an expansive residential project that will cover approximately 2.5 million square feet of developable land.

The project is expected to generate a Gross Development Value (GDV) of approximately ₹2,700 crore, thus dovetailing with Brigade’s ongoing expansion plans in the real estate sector. The total land acquisition value is pegged at ₹630 crore. Brigade Enterprises intends to design the project in alignment with the organization’s commitment to developing sustainable, good-quality living spaces representing the ever-changing urban panorama of Bengaluru. Located in Whitefield, one of the city’s premier and illustrious IT hubs, it provides a residential opportunity in some of the top prime residential land within Bengaluru.

According to Pavitra Shankar, the company’s Managing Director, this acquisition constitutes a vital initiative in the Brigade’s ambitions for residential expansion in the long term. Always active in acquiring locks of land in select areas to shore up land holding, this project shall enhance the quality of life with sustainable development catering to the present needs of future residents, she mentioned.

Brigade Enterprises also has a sturdy line-up of upcoming development opportunities, with approximately 12.61 million sq. ft. set for launch across Bengaluru, Chennai, and Hyderabad.

In the wake of this announcement, Brigade Enterprises Ltd.’s shares surged 1.28% to a closing price of ₹1,293.30 on the Bombay Stock Exchange (BSE), an increase of ₹16.35.