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Shares of Brigade Enterprises Limited ended at ₹670.00, down by ₹2.25, or 0.33%, on the BSE.
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Realty firm Brigade Enterprises Ltd on Monday (May 25) said it has signed a joint development agreement for a premium residential project in Kompally, Hyderabad, with an estimated revenue potential of ₹850 crore.
The project will be developed across 5.6 acres in the high-growth corridor of North Hyderabad and is aimed at meeting demand for sustainable and modern residential spaces. The company said it plans to develop the land parcel into a residential community with architectural design and amenities.
Brigade Group entered the Hyderabad market with Brigade at No.7 in Banjara Hills and later expanded through Brigade Citadel in Moti Nagar. The company is also developing Brigade Gateway at Neopolis, a 4 million square feet mixed-use project, along with Brigade Enclave and Brigade Manor in Moti Nagar.
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The company said the latest agreement follows the previously announced four-acre project in Neopolis, which is currently in an advanced design stage. Brigade Group plans to invest around ₹5,000 crore across residential, commercial, hospitality and retail segments in Hyderabad over the next three to four years.
Amar Mysore, Executive Director, Brigade Enterprises Ltd, said, "Hyderabad is a vital growth market for Brigade, and our commitment to expanding our footprint is evident in the consistency of our new projects in the region. The city’s robust economic momentum, driven by thriving technology and infrastructure sectors, makes it an ideal market for us.
As we further scale our operations, our focus will continue to remain on acquiring strategically located land parcels that not only offer high growth potential but also strictly align with the core principles, governance, and ethical standards that we stand for."
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Shares of Brigade Enterprises Limited ended at ₹670.00, down by ₹2.25, or 0.33%, on the BSE.
(Edited by : Jomy Jos Pullokaran)
