Brigade Enterprises Limited has informed the Exchange regarding a press release dated April 07, 2025, titled "Brigade Group Signs JDA for Premium Residential Development in Mysuru with GDV of Rs.225 crores".
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Brigade Enterprises has signed a Joint Development Agreement (JDA) for a premium residential project in Mysuru. The project has a Gross Development Value (GDV) of Rs. 225 crores, which represents the total expected revenue value once the development is completed. Under a JDA, Brigade partners with a landowner, sharing revenue or area, which is a capital-efficient way to expand its project pipeline without buying land outright. This adds to Brigade's portfolio of residential developments, particularly extending its footprint beyond its core markets of Bengaluru into growing Tier-2 cities like Mysuru.
Adds a new mid-sized project to Brigade's residential pipeline, supporting future revenue visibility. JDA model keeps capital outlay low, which is positive for cash flows, though the Rs. 225 crore size is relatively small compared to Brigade's overall portfolio.