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

Serene, Gardencity to Develop Rs 3 Billion Senior Living Project in Bengaluru

Serene Communities, a leading senior living brand, has partnered with Gardencity Realty to develop a premium senior living community in Budigere, one of Bengaluru’s fastest-growing residential micro-markets. The project will span approximately 300,000 sq ft, with a Gross Development Value of about Rs 3 billion, and will add roughly 250 senior-friendly residences to the city’s growing retirement housing segment.The launch forms part of Serene Communities’ national expansion strategy. The company has 11 new projects under development with a planned investment of Rs 25 billion that will add..

Next Story
Real Estate

Alliance City Developers Marks Major 2025 Milestones in Vile Parle

Alliance City Developers Realtors has announced significant project milestones and expansions in 2025, underscoring what the company terms a transformational year. The developer completed multiple residential projects and launched two premium developments in Vile Parle (East), one of Mumbai’s most sought-after neighbourhoods.During the year, Alliance Legacy in Matunga (East) received its Occupancy Certificate (OC), while Alliance Eternis in Borivali (West) and Alliance Vista in Vile Parle (East) were granted Completion Certificates (CC), marking final project delivery. Alliance Abhimanyu is ..

Next Story
Infrastructure Energy

Moro Hub and PwC Middle East Partner to Accelerate Smart City Solutions

Moro Hub, a subsidiary of Digital DEWA, the digital arm of Dubai Electricity and Water Authority (DEWA), has announced a strategic collaboration with PwC Middle East to advance Smart City, Integrated Command Centre (ICC), Critical Infrastructure Monitoring and Internet of Things (IoT) initiatives across the region. The partnership brings together Moro Hub’s digital infrastructure and IoT capabilities with PwC’s global expertise in digital trust, smart city strategy and cybersecurity to support the UAE’s vision for intelligent and sustainable cities.“Our collaboration with PwC Middle Ea..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Open In App