Brigade Enterprises acquires 4.04 acres in Hyderabad for about Rs 477 crores

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AI summary

Brigade Enterprises bought a 4.04-acre land parcel (Plot No. 20) in Neopolis Phase 3, Kokapet, Hyderabad through an auction by the Hyderabad Metropolitan Development Authority. The price was Rs 118 crore per acre, taking the total deal to around Rs 477 crores. This follows their earlier Brigade Gateway project in the same micro-market. The company plans to build a premium mixed-use development here, similar to its Bengaluru project, reinforcing its expansion plans in Hyderabad.

Likely market impact

Expands Brigade's land bank in a high-growth Hyderabad corridor; deploys about Rs 477 crores in capital toward a future mixed-use project.