Brigade Enterprises Limited has informed the Exchange regarding a press release dated May 14, 2025, titled "Brigade Group Acquires Prime Land Parcel on Velachery Road for Premium Residential Development".
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Brigade Enterprises has acquired a 5.41-acre land parcel on Velachery Road, Chennai through an outright purchase for ₹441.70 Crores. The land will be developed into a premium residential project with about 0.8 million square feet of development potential and an estimated Gross Development Value (GDV) of approximately ₹1,600 Crores. The site is strategically located adjacent to Phoenix Market City, offering connectivity to both the OMR IT Corridor and Chennai's Central Business District. The company's Managing Director noted that Chennai has grown into Brigade's second largest market, and this acquisition is part of its continued expansion in the city. The disclosure was filed under Regulation 30 of SEBI's Listing Obligations and Disclosure Requirements, 2015.
This is a positive signal for shareholders as Brigade adds a sizeable ₹1,600 Crore GDV project to its pipeline in a high-demand Chennai micro-market, strengthening future revenue visibility. However, the ₹441.70 Crore cash outflow for the land may exert short-term pressure on liquidity, and investors will watch execution timelines closely.