Brigade in joint development pact for Chennai land

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Brigade in joint development pact for Chennai land

Real estate developer Brigade Enterprises said on Tuesday its board has approved the joint development agreement for 21 acre of land in Chennai, expected to generate revenues of Rs 550 crore.

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Real estate developer Brigade Enterprises said on Tuesday its board has approved the joint development agreement for 21 acre of land in Chennai, expected to generate revenues of Rs 550 crore.

The firm is also proposing to launch 25 projects of about 9 million square feet in the next 12 months and, it said, it was in the process of winning lease deals for 0.5 million sqaure feet of office space in Bangalore.

Its net profit for the quarter-ended September zoomed more than four times to Rs 20,000 crore while total income rose 45% to Rs 120 crore, it said in a statement.