Brigade Group invests to develop 1.4 million sqft Commercial Space in Bengaluru

Bengaluru headquartered Real estate developer Brigade Group has recently entered into Limited Liability Partnership (LLP) agreement through its fully owned subsidiary Brigade Tetrarch Private Limited in order to construct a Rs.750-crore commercial space on Old Airport Road in Bengaluru.

The official statement stated, the area of the proposed construction will be done over 1.4 million square feet of leasable area which is expected to generate an annual lease income of Rs.100 crore. 

The Joint Managing Director, Brigade Group, Nirupa Shankar told, “This project reflects our commitment to develop world-class tech-enabled commercial spaces, with adequate amenities that will cater to the dynamic needs of businesses. We are confident that this development will set new benchmarks in the commercial segment and contribute significantly to the economic growth of the city.”

According to the statement of the company, the strategic location of the project is on Airport Road which is a prime commercial hub in Bengaluru, ensuring excellent connectivity and accessibility.

This news of this newly launched development came up after Brigade Enterprises Limited reported nearly four-fold year-on-year jump in its net profit for the April-June quarter of financial year 2024-25 at Rs.81 crore.

In a regulatory filing the company informed, the company’s consolidated revenue from operations grew to Rs.1,113 crore during June quarter from Rs.685.43 crore in the year-ago period.

Brigade Enterprises achieved presales totaling Rs.1,086 crore in the three-month period ending June 30. They also sold 1.15 million square feet of property, with an average selling price of Rs.9,483 per square foot for the quarter.

Since its establishment in 1986, Brigade Enterprises Ltd has constructed numerous notable buildings in Bengaluru, Chennai, Hyderabad, Gift City-Gujarat, and Thiruvananthapuram, among other locations. Their projects encompass residential, office, retail, and hotel developments.