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Brigade Group inks joint development contracts in Chennai and Bengaluru, eyes Rs 4,000 crore revenue

The reality firm has signed a contract with the TVS Group's Mount Road property in Chennai for a 1 million sq ft of mixed-use development.

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Bengaluru-based reality firm Brigade Group has inked binding contracts for valuable land parcels in Chennai and Bengaluru with a total revenue potential of Rs 4,000 crore over the next 4-5 years, the company said on August 9.

Brigade Group has signed a contract with the TVS Group's Mount Road property in Chennai for a 1 million sq ft of mixed-use development, including office, retail, and residential spaces.

M. R. Jaishankar, CMD, Brigade Group said, "The acquisition of both these properties in Chennai and Bengaluru are part of our growth strategy as we continue to focus on South India with emphasis on Bengaluru, Chennai and Hyderabad.”

The Bengaluru joint development property is strategically located close to international schools near Sarjapur road in south-eastern Bengaluru. The area has the potential of developing over 2 million sq ft of residential apartments.

Last month, the company had signed a Joint Development Agreement (JDA) to develop around 2.1 million square feet in Chennai.

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Additionally, the Brigade Group also has a sizeable pipeline of upcoming projects in Bengaluru, Hyderabad, and Chennai, adding to around 10 million sq ft.
Moneycontrol News
first published: Aug 9, 2022 06:59 pm
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