Brigade Enterprises signs joint development agreement for ₹2,500 crore residential project in east Bengaluru

Realty firm Brigade Enterprises Limited on Monday (September 8) announced the signing of a joint development agreement for a luxury residential project in East Bengaluru. The project spans approximately 10.75 acres and offers a saleable area potential of 2.5 million square feet, with an estimated gross development value (GDV) of ₹2,500 crore.The residential development aims to cater to the evolving aspirations of modern homeowners and investors. Strategically located near key commercial hubs and social infrastructure, the project is designed to offer premium living spaces that align with urban lifestyles and investment opportunities.

Pavitra Shankar, Managing Director, Brigade Enterprises Ltd, said, “Bengaluru is our primary market, and this new development reflects our strategic commitment to focus on high-quality developments in premium micro markets that combine connectivity, infrastructure, and lifestyle appeal.”

Also Read: Brigade Enterprises announces new residential project with revenue potential of ₹950 crore in Bengaluru“The location is rapidly evolving as a premium residential corridor, and we believe that this project will play a pivotal role in attracting a new generation of aspirational homebuyers,” he added.

First quarter resultsBrigade Enterprises reported a 79% year-on-year jump in net profit at ₹150 crore for the first quarter of this fiscal, up from ₹83.7 crore in Q1FY25. Revenue increased 18.9% to ₹1,281 crore against ₹1,077 crore year-on-year. EBITDA for the April-July quarter rose 11% to ₹323.9 crore compared to ₹291.9 crore a year ago.

However, the EBITDA margin for this quarter narrowed to 25.3% from 27.1% in the corresponding period of the previous fiscal.

The company reported net bookings in its real estate segment at 0.95 million square feet for Q1FY26, with a sales value of ₹1,118 crore. The average realisation stood at ₹11,782 per square foot, reflecting a 24% growth over Q1FY25.

Also Read: Brigade Enterprises buys Bengaluru land for ₹588 crore, plans ₹5,200 crore mixed-use project

Shares of Brigade Enterprises Limited ended at ₹910.70, up by ₹0.35 or 0.038%, on the BSE today, September 8.