Bengaluru-based Brigade Enterprises Ltd on Friday (January 3) said it has finalised a definitive agreement to acquire a prime 20-acre land parcel on Whitefield-Hoskote Road, Bengaluru.
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“We would like to inform you that the Company has signed a definitive agreement for a prime land parcel located on Whitefield-Hoskote Road, Bengaluru for developing a residential project spanning about 20 acres,” Brigade Enterprises said in a regulatory filing.
The company, through its subsidiary Ananthay Properties Private Limited, plans to develop a residential project with a total saleable area of approximately 2.5 million square feet.
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“The project is estimated to have a Gross Development Value (GDV) of around ₹2,700 crore. The total land acquisition cost is pegged at ₹630 crore,” Brigade Enterprises stated.
The project will be designed in line with Brigade’s commitment to delivering high-quality, sustainable spaces that align with Bengaluru’s dynamic urban landscape. Whitefield, Bengaluru’s largest and most prominent IT hub, has evolved into one of the city’s most desirable neighbourhoods.
Pavitra Shankar, Managing Director of Brigade Enterprises Ltd, said, “We remain focused on acquiring prime land in key markets to strengthen our land holdings. This project plays a significant role in supporting our long-term residential expansion strategy. We are committed to developing a property that upholds the highest standards of quality and sustainability while meeting the evolving needs and preferences of our future residents.”
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Brigade Group also has a healthy pipeline of upcoming residential projects, with approximately 12.61 million square feet of new developments across Bengaluru, Chennai, and Hyderabad.
Shares of Brigade Enterprises Ltd ended at ₹1,293.30, up by ₹16.35, or 1.28%, on the BSE.
(Edited by : Shoma Bhattacharjee)
