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Brigade Group Plans Rs 40,000 Crore Investment Over Three Years
Brigade Group is a company that builds homes, offices, hotels and other properties.
It says it will invest about Rs 40,000 crore over the next three years.
The projects will cover 40 million square feet across its markets in South India.
The company expects the projects to have a potential revenue of Rs 65,000-75,000 crore.
It plans to pay for the work using its own funds, money paid by customers in advance and borrowing.
Brigade also wants to start a Real Estate Investment Trust within five years.
This could help it make money from commercial properties that earn rent.
The announcement came as the company marked 40 years in business.
Brigade Group plans to invest around Rs 40,000 crore over the next three years.
The investment will support 40 million sq ft of projects across its markets in South India.
The development pipeline spans housing, commercial, hospitality and warehousing projects, with estimated revenue potential of Rs 65,000-75,000 crore.
Executive Chairman M R Jaishankar said funding will come from internal accruals, customer advances and debt.
The company plans to launch a Real Estate Investment Trust within five years to monetise rent-yielding commercial assets.
- Who
- Brigade Group; Executive Chairman M R Jaishankar announced the plans.
- What
- The company plans to invest around Rs 40,000 crore in a 40 million sq ft development pipeline and launch a Real Estate Investment Trust within five years.
- Where
- Across Brigade Group's markets in South India; the press conference was held in Bengaluru.
- When
- The investment is planned over the next three years; the REIT is planned within five years. The announcement was made on Thursday, as Brigade marked 40 years in business.
- Why
- The company says the expansion is intended to meet rising demand and monetise rent-yielding commercial assets through a planned REIT.
Key facts
- Planned investment
- Around Rs 40,000 crore over three years
- Development pipeline
- 40 million sq ft
- Potential revenue
- Rs 65,000-75,000 crore
- Project sectors
- Housing, commercial, hospitality and warehousing
- Funding sources
- Internal accruals, customer advances and debt
- Planned REIT timeline
- Within the next five years
- Company milestone
- 40 years in business; more than 110 million sq ft developed across 300+ projects
Quotes
Brigade Enterprises
The company, which made the investment announcement in a regulatory filing.
“Brigade was built on the belief that real estate is ultimately about creating places that have enduring value for people, businesses and communities. Over four decades, we have grown with the cities and markets in which we operate, adapting to changing aspirations and economic realities”
thehansindia.com
“invest around Rs 40,000 crore over the next three years for a development pipeline of 40 million sq ft across its markets”
thehansindia.com
Sources
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