Brigade Enterprises Made an Investment of Rs. 660.28 Crore for a Land Acquisition in Hyderabad

Brigade Enterprises Made an Investment of Rs. 660.28 Crore for a Land Acquisition in Hyderabad

Brigade Enterprises buys 9.71 acres in Hyderabad for Rs. 660.28 crore, marking a big milestone in real estate.

Brigade Enterprises has secured a significant acquisition, adding to its growing portfolio. The real estate giant successfully made a deal in an e-auction hosted by the Hyderabad Metropolitan Development Authority (HMDA) for a 9.71-acre plot of land in Neopolis, Kokapet, Hyderabad. This acquisition, valued at a huge Rs. 660.28 crore, amounts to approximately Rs. 68 crore per acre, as officially reported by the company in a BSE filing.

Brigade Enterprises has been making strategic moves in the real estate market. In September 2023, its subsidiary, Brigade Tetrarch, completed a sale deed for a 5-acre and 35.25-gunta land parcel in Venkatala Village, Yelahanka Hobli, Bengaluru. This acquisition, costing Rs. 123.50 crore, demonstrates their commitment to expansion.

Brigade Enterprises have big plans for the Hyderabad acquisition. They have revealed intentions to start on a residential project of over one million square feet, with an estimated revenue potential of about Rs. 800 crore.

In August 2023, Brigade Enterprises secured 6.54 acres of land on Rajiv Gandhi Salai (Old Mahabalipuram Road), Sholinganallur, Chennai, from Pfizer Healthcare India. This acquisition, valued at Rs. 138.83 crore, was another milestone in their expansion strategy.