Since inception in 1986, Brigade has completed over 250 buildings, amounting to 66 million sq ft of developed space, in the residential, office, retail and hospitality sectors across seven cities.
MR Jaishankar, Chairman & Managing Director, Brigade Group, shares more...
One decision you consider the biggest contributor to the company’s growth in FY2018-19: Our entry into the affordable housing segment has been a major factor. We have launched nearly 2,000 units in the affordable housing segment and have received approvals to launch another 6,000 apartments in this category. That is a major decision and we have entered this segment at the right time; it is the flavour of the season.
One single factor you avoided that could have otherwise impacted the company’s top-line and bottom-line: We have consciously avoided entry into the NCR and Mumbai markets, despite receiving nearly two dozen proposals. The intention has been to focus on few markets and not to stretch our management bandwidth and resources.
Plans for the company’s growth in FY2019-20: We are formally launching a large integrated township, which will include apartments of various sizes along with offices, retail, mall and multiplex in the IT belt, which can range from 6 to 12 million sq ft. This will be a major project for us.
Also, we are trying to divest equity in our hospitality segment. While we are presently operating 1,200 rooms, we should reach 2,000 rooms by by FY20. So, in order to further grow beyond 2,000 keys, we are planning to dilute our equity in the hospitality company to grow further in the sector.
