Brigade Enterprises secures prime land in Hyderabad and Bengaluru

19 Oct 2023 CW Team

Brigade Enterprises has successfully secured a 9.71-acre land parcel in Neopolis, Kokapet, Hyderabad, through a winning bid in an e-auction organised by the Hyderabad Metropolitan Development Authority (HMDA). The acquisition was valued at Rs 680 million per acre, as disclosed in the company's filing with the Bombay Stock Exchange (BSE).

Additionally, in September 2023, Brigade Tetrarch, a wholly owned subsidiary of Brigade Enterprises, finalised a sale deed to acquire a 5-acre 35.25 gunta land parcel in Venkatala Village, Yelahanka Hobli, Bengaluru, for a total consideration of Rs 1.235 billion from Bangalore Ceramics.

Brigade Enterprises outlined its plans for the newly acquired land, stating their intention to develop a residential project covering almost one million square feet. The estimated revenue potential from this venture is approximately Rs 8 billion, as indicated in the regulatory filing.

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