Buys 4.04 acres in Hyderabad Neopolis for about Rs 477 Cr
BRIGADE · price
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Brigade Enterprises bought a 4.04-acre land parcel (Plot 20) in Neopolis Phase 3, Kokapet, Hyderabad, through an auction by the Hyderabad Metropolitan Development Authority. Price was Rs 118 crore per acre, taking the total deal value to about Rs 477 crore. This is the company's second acquisition in the same micro-market; the earlier one is being developed as Brigade Gateway, a mixed-use project covering a mall, World Trade Center, hotel, and residences. Management called Hyderabad a key market in its expansion strategy, with a robust project pipeline planned.
Expands land bank in a growing Hyderabad corridor; cash outflow of about Rs 477 Cr but supports future residential and commercial pipeline. Neutral to mildly positive.