The premium residential project — with an estimated gross development value (GDV) of Rs 1,000 crore — will come up along a major arterial corridor that offers strong connectivity to the city’s industrial and commercial hubs. The development, featuring modern apartments, lifestyle amenities and ESG-compliant infrastructure, is targeted for launch in 2026, subject to regulatory approvals.
Managing Director Pavitra Shankar said the expansion fits into Brigade’s broader plan to strengthen its Chennai portfolio, noting that the city’s property market remains buoyed by infrastructure upgrades and healthy end-user demand. “Chennai’s real estate market is on a strong growth trajectory, driven by robust infrastructure and sustained demand from both end-users and investors. This new residential development reinforces our goal of securing marquee land parcels in prime locations to deliver integrated, high-quality projects that meet the demands of Chennai’s discerning homebuyers,” Shankar added.
The Bengaluru-based real estate developer reported a sharp 79% rise in consolidated net profit to Rs 149.88 crore for the quarter ended June, driven by robust residential sales and a strong pipeline of project launches across key cities.
Brigade’s profit in the same quarter a year earlier stood at Rs 83.72 crore. Total income climbed to Rs 1,332.86 crore from Rs 1,113.44 crore, according to a regulatory filing.
The company also outlined a pipeline of about 16 million square feet of new launches in residential and commercial segments and plans to add 1,700 keys to its hotel portfolio. The group’s land bank stands at 60 million square feet, a factor it expects will underpin growth.Shares of the company ended at Rs 891, lower by 0.64% from the last close on the NSE. The Brigade Enterprises stock has corrected nearly 30% on a year-to-date basis.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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