Brigade to launch 10 housing projects in Bengaluru and Chennai
Real Estate

Brigade to launch 10 housing projects in Bengaluru and Chennai

Brigade Enterprises, a real estate developer, will launch 10 housing projects in Bengaluru and Chennai this fiscal year, with an anticipated construction cost of Rs 3,000 crore, as it seeks to capitalize on increased demand for residential properties, according to its MD Pavitra Shankar.

"Overall, the last financial year was very good, primarily driven by our residential and hospitality business. Things in retail were also very good and office was quite stable," Pavitra said.

Brigade Enterprises, situated in Bengaluru, reached a record sales bookings of Rs 4,109 crore, primarily for residential buildings with a tiny share of commercial properties, representing a 36% increase over the fiscal year 2021-22.

"I think it's reflective of general demand by customers," she said, adding that the impact of hike in mortgage rates was not visible at ground level.

She added that the business planned to launch 7.54 million square feet of residential projects across 10 new projects and new phases of current projects.

She stated that the expected gross sales value of these new launches is roughly Rs 6,000 crore in terms of building costs and sales value.

According to Pavitra, it will cost roughly Rs 3,000 crore to build up these 7.54 million square feet over the course of the next 4–5 years.

According to her, Brigade Enterprises opened 5.4 million square feet of residential space in the previous fiscal year. According to Pavitra, the company's leasing segment saw a 26% increase in revenues to Rs 752 crore last fiscal from Rs 596 crore the year before. Revenue from commercial assets and the facility management industry make up the leasing revenue.

From 0.9 million square feet in FY22 to 1.2 million square feet in FY23, office leasing increased by 33%.

She claimed that in shopping centers, foot traffic rose by 106% in the most recent fiscal year, and that the company's retail sales consumption surged by 78% annually in FY23.

Compared to 62% of pre-COVID occupancy, Brigade's hospitality portfolio attained a 69 percent occupancy rate. The company achieved a net profit of Rs 222.17 crore for the most recent fiscal year, compared to a net loss of Rs 64.76 crore for the fiscal year 2021–2022.

In the fiscal year 2022–2023, total income increased to Rs 3,563.21 crore from Rs 3,065.51 crore the previous year.

See also:
Brigade Group to create land plots in Bengaluru and Chennai
Brigade Group to develop 2.1 mn sq ft residential township in Chennai


Brigade Enterprises, a real estate developer, will launch 10 housing projects in Bengaluru and Chennai this fiscal year, with an anticipated construction cost of Rs 3,000 crore, as it seeks to capitalize on increased demand for residential properties, according to its MD Pavitra Shankar. Overall, the last financial year was very good, primarily driven by our residential and hospitality business. Things in retail were also very good and office was quite stable, Pavitra said. Brigade Enterprises, situated in Bengaluru, reached a record sales bookings of Rs 4,109 crore, primarily for residential buildings with a tiny share of commercial properties, representing a 36% increase over the fiscal year 2021-22. I think it's reflective of general demand by customers, she said, adding that the impact of hike in mortgage rates was not visible at ground level. She added that the business planned to launch 7.54 million square feet of residential projects across 10 new projects and new phases of current projects. She stated that the expected gross sales value of these new launches is roughly Rs 6,000 crore in terms of building costs and sales value. According to Pavitra, it will cost roughly Rs 3,000 crore to build up these 7.54 million square feet over the course of the next 4–5 years. According to her, Brigade Enterprises opened 5.4 million square feet of residential space in the previous fiscal year. According to Pavitra, the company's leasing segment saw a 26% increase in revenues to Rs 752 crore last fiscal from Rs 596 crore the year before. Revenue from commercial assets and the facility management industry make up the leasing revenue. From 0.9 million square feet in FY22 to 1.2 million square feet in FY23, office leasing increased by 33%. She claimed that in shopping centers, foot traffic rose by 106% in the most recent fiscal year, and that the company's retail sales consumption surged by 78% annually in FY23. Compared to 62% of pre-COVID occupancy, Brigade's hospitality portfolio attained a 69 percent occupancy rate. The company achieved a net profit of Rs 222.17 crore for the most recent fiscal year, compared to a net loss of Rs 64.76 crore for the fiscal year 2021–2022. In the fiscal year 2022–2023, total income increased to Rs 3,563.21 crore from Rs 3,065.51 crore the previous year. See also: Brigade Group to create land plots in Bengaluru and ChennaiBrigade Group to develop 2.1 mn sq ft residential township in Chennai

Next Story
Real Estate

ED Conducts Searches at 16 Locations Linked to Kalpataru Group in Lucknow

The Directorate of Enforcement (ED), Lucknow zonal office, conducted searches on Thursday at 16 locations linked to the Kalpataru Group of Companies in Agra, Mathura, and Noida concerning a Rs 6.81 billion ponzi scheme. During the searches, ED officials seized over Rs 10 million in unexplained cash, sale deeds and documents for 88 immovable properties, as well as digital and electronic evidence related to hundreds of properties connected to the case. The investigation revealed that the company had launched a scheme through which approximately 1,000 individuals were defrauded with promises of..

Next Story
Real Estate

ITC Acquires 2.44% in EIH and 0.53% in Leela Hospitality Chains

ITC, which plans to demerge its hotels business from January 2025, announced that it has acquired shares in rival hospitality chains Oberoi and Leela through its wholly-owned arm, Russell Credit. The company stated in a regulatory filing that it had acquired 2.44 per cent of the share capital (comprising Rs 10.52 million equity shares of Rs 2 each) of EIH and 0.53 per cent of the share capital (comprising 34.60 lakh equity shares of Rs 2 each) of HLV from RCL. Following the acquisition, ITC's shareholding in EIH and HLV now totals 16.13 per cent and 8.11 per cent of their respective paid-up s..

Next Story
Real Estate

Traders Protest Over Hike in Property Tax and Electricity Tariff in TN

Traders and shopkeepers across the district went on strike to protest the increase in property tax, the 18 per cent GST on commercial properties, and the rise in electricity tariffs. As part of the strike, grocery stores, restaurants, bakeries, textile shops, jewellery stores, cellphone shops, and electrical shops were closed. Approximately 300 shops in the Tirupur cotton market complex and vegetable market also shut down. Protests took place in various areas, including Tirupur city, Avinashi, Perumanallur, Dharapuram, Palladam, and Uthukuli, where demonstrators called on both the Union an..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000