Brigade Enterprises gains on launch of residential project in Bengaluru

The project spread across 14 acres on the Whitefield-Sarjapur Road.

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Shares of Brigade Enterprises traded up 1.5 percent at Rs 850.20 early on December 4 after the company launched the Brigade Sanctuary residential project in Bengaluru.

The project is spread across 14 acres on the Whitefield-Sarjapur Road.

Brigade Sanctuary is a joint development project comprising 1,275 units with 1, 3 and 4 bedroom homes and has a gross revenue potential of Rs 2,000 crore and the total development area will be around 2 million sq. ft.

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“There has been a notable surge in demand for premium residences in Bengaluru. The appeal of homes and community living has risen significantly, especially among millennials. Brigade Sanctuary with its innovative design, commitment to sustainability, and a host of amenities, promises a living experience that blends the comforts of contemporary living with the tranquility of natural surroundings,” said Pavitra Shankar, MD Brigade Group.

In November, Brigade Group partnered with Krishna Priya Estates and Micro Labs to develop more than 2 million square feet (msf) of land in Yelahanka with gross development value of Rs 2,100 crore.

Brigade Group had posted 72 percent jump in its September quarter net profit at Rs 133.50 crore.