On August 5, 2024, Brigade Group announced that its wholly owned subsidiary, Brigade Tetrarch Private Limited, has signed a Limited Liability Partnership (LLP) agreement to develop a 1.4 million square feet office space. This new commercial development is projected to generate an annual lease income of approximately ₹100 crore, with a total investment of around ₹750 crore.
Nirupa Shankar, Joint Managing Director of Brigade Enterprises Limited, stated, “This project shows our dedication to creating top-quality, sustainable office spaces with amenities for the modern workforce and business needs. We believe this development will set new standards in the office space sector and boost the economic growth of North Bangalore.”
The project will be located on Airport Road, NH 44, a key commercial area in Bengaluru known for its excellent connectivity and accessibility.
On August 5, 2024, Brigade Group announced their financial results for the first quarter of FY25. The company reported a total revenue of ₹1,113 crore and a Profit After Tax (PAT) of ₹81 crore. In the real estate sector, pre-sales bookings amounted to 1.15 million square feet, with a sale value of ₹1,086 crore and an average price of ₹9,483 per square foot.
Pavitra Shankar, Managing Director of Brigade Enterprises, highlighted that the real estate segment was the main growth driver, with other segments also contributing positively. Brigade’s 17th annual event, Brigade Showcase, will take place from August 9-11, 2024, focusing on sustainability. Visitors will learn about eco-friendly practices and energy-efficient designs while exploring over 20 Brigade projects across Bengaluru, Chennai, and Hyderabad, ranging from ₹49 lakhs to ₹21 crore.
For Q1 FY25, real estate revenue was ₹707 crore, leasing revenue was ₹259 crore, and hospitality revenue was ₹118 crore. The company’s EBITDA for the quarter stood at ₹328 crore.
Brigade Group, established in 1986, is a top property developer in India with nearly 40 years of experience. The company has significantly shaped the skylines of South Indian cities like Bengaluru, Mysuru, Hyderabad, Chennai, and Kochi. Brigade has developed many properties, including residential, commercial, retail, hospitality, and educational spaces.
On August 06, 2024, Brigade Enterprises Limited’s share price opened at ₹1,205.35, touching the day’s high at ₹1,247.00 at 10:25 AM on the NSE.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
We're Live on WhatsApp! Join our channel for market insights & updates
Get the link to download the App
