Hot Pursuit     22-Dec-23
Brigade Ent edges higher after signing 10-year lease agreement with Sidvin Core-Tech
Brigade Enterprises rose 1.29% to Rs 876.50 after the company announced the signing of a 10-year agreement with Sidvin Core-Tech India for leasing out 54,300 square feet of Grade A office space at Brigade Deccan Heights in Northwest Bangalore.

Brigade Deccan Heights is located in Yeshwanthpur on the Outer Ring Road in North-West Bengaluru and spans 2.2 acres with a 4.3 lakh square feet development area. The building is designed as per NBC 2016 and Karnataka Fire Force norms. It also comes with a host of amenities and technologies.

Nirupa Shankar, joint managing director, Brigade Enterprises, said: “Northwest Bengaluru is fast becoming a much sought-after area for commercial Grade A office establishments. The region is growing at a phenomenal pace and is emerging as a significant Micro market in the city.

Our agreement with Sidvin Core-Tech is a testament to the significant potential of the area. The discussion around new commercial properties are now being influenced by sustainability and smart building designs and we have taken a forward-thinking approach by creating commercial buildings as a symbol of ecological design.”

Brigade Enterprises is the flagship company of the Brigade group and is one of the largest real estate players in South India. Till date, it has developed over 300 lakh sq. ft, 80% of which has been in the residential segment. Though it mainly focuses on the Bengaluru market, Chennai is emerging as the second large market for the entity. The group has developed projects in Mysuru, Cochin, Chennai, Hyderabad, and Ahmedabad.

The real estate company’s consolidated net profit surged 72.08% to Rs 133.50 crore on 55.43% jump in revenue from operatins to Rs 1,366.58 crore in Q2 FY24 over Q2 FY23.

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