Bengaluru-based realtor Brigade Enterprises has launched India's first net-zero residential project with an estimated Gross Development Value (GDV) of about Rs 500 crore, with project size of 4.3 acre, having 420 residential units, the company said on December 18.
Brigade Citrine, in Bengaluru, is high-rise township in Budigere Cross, Whitefield with 1,2,3 and 4 BHK homes, which claims to save around 8,900 tankers of water annually, and use renewable energy for the entire common area lighting. "The project is in line with Brigade Group’s journey of achieving net zero emissions by 2045," Pavitra Shankar, Managing Director, Brigade Enterprises said.
Brigade has been seeing as much as 50% of sales coming in from about 5-6 new launches during the first half of the fiscal, and has seen strong performance by ongoing and under-construction projects. "...while there are delays on the approval side, we will still see the launches. It's a question of the time that we would have had to sell," Pavitra Shankar had said recently.
During the September quarter earnings call, the company had said that it is looking at launches in Hyderabad, Chennai and a couple of projects in Bengaluru during H2FY25. The builder has has around 4.7 million square feet of existing inventory as of September.
In Chennai, Brigade has additional 12 million square feet of upcoming launch pipeline with focus on the mid-segment. The realtor expects a 'substantial portion' of H2FY25 booking numbers to come from new launches.
On a YTD basis, shares of Brigade Enterprises are higher by 42%, and the company has a market capitalisation of over Rs 31,100 crore.
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