Brigade Enterprises Limited has informed the Exchange on disclosure pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015:
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Brigade Enterprises, through its subsidiary Ananthay Properties Private Limited, has acquired a 20.19 acre land parcel in the Whitefield–Hoskote corridor of Bengaluru. The transaction value is ₹588.33 Crores. This is a real estate land acquisition in a fast-growing micro-market of Bengaluru, carried out via a wholly-owned subsidiary. The disclosure has been made under SEBI Listing Regulations, 2015.
This is a significant land bank addition that could support future residential or commercial development, potentially adding to the company's revenue pipeline. For shareholders, it signals continued investment in growth markets, though the capital outlay will also increase leverage and deployment of funds in the near term.