Brigade Group to invest Rs 40,000 cr

New Delhi: Realty firm Brigade Group on Thursday announced an investment of Rs 40,000 crore over the next three years to develop housing, commercial, hospitality and warehousing projects across major cities in South India, as part of its expansion plan to meet rising demand. Bengaluru-based Brigade Group will make the investment to develop a 40 million sq ft area, which has a revenue potential of Rs 65,000-75,000 crore.

The company said it has plans to launch Real Estate Investment Trust (REIT) within the next five years to monetise its rent-yielding commercial assets.

Brigade Group on Thursday marked the completion of 40 years in business, during which it developed more than 110 million sq ft area across 300+ projects. The company has established its presence across 10 cities.

In a regulatory filing, Brigade Enterprises said it will “invest around Rs 40,000 crore over the next three years for a development pipeline of 40 million sq ft across its markets”.

Addressing a press conference in Bengaluru, Brigade Group Executive Chairman M R Jaishankar said the company would fund this massive investments through internal accruals, advances from customers and debt.

Brigade Group has built a diversified portfolio that includes residential communities, office developments, retail destinations, and hotels. It has also ventured into industrial and warehousing parks.

“Brigade was built on the belief that real estate is ultimately about creating places that have enduring value for people, businesses and communities. Over four decades, we have grown with the cities and markets in which we operate, adapting to changing aspirations and economic realities,” Jaishankar said.

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