Brigade Ent acquires 11-acre land parcel in Bengaluru
Brigade Enterprises has acquired a strategically located 11-acre land parcel opposite ITPL in Whitefield, Bengaluru, with an estimated gross development value of over Rs 2,000 crore.
The land will be developed into a premium commercial project with a gross leasable area of approximately 1.5 million square feet and a GDV of over Rs 2,000 crore.
Nirupa Shankar, joint managing director, Brigade Enterprises, said, This strategic acquisition is a significant step in our journey to create world class commercial spaces that inspired by creating a sustainable and future ready workspace. Whitefield remains a prime destination for office demand due to metro connectivity, and the vibrant corporate ecosystem that exists. With cutting-edge architecture and future-ready, sustainable infrastructure, this project will stand out in Bengalurus commercial landscape while enhancing Brigade Groups leadership in the Grade A office leasing segment. This project will also work towards bringing us closer to achieving our net zero target.
Brigade Group is one of Indias leading property developers. It has developed many landmark buildings and transformed skylines across India in the cities of Bengaluru, Chennai, Hyderabad, Mysuru, Kochi, Trivandrum, and GIFT City with developments across residential, office, retail, hospitality and education sectors.
The companys consolidated net profit surged to Rs 236.24 crore in Q4 FY25 as compared with Rs 73.49 crore in Q4 FY24. Net sales increased 24.7% YoY to Rs 1,463.94 crore in Q4 FY25.
The counter declined 1.74% to end at Rs 998.80 on 8 May 2025.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
India.com
21 minutes ago
- India.com
ICICI-HDFC Merger Almost Happened? Deepak Parekh Shares Surprising Detail
New Delhi: In a surprising revelation, former HDFC chairman Deepak Parekh shared that ex-ICICI Bank CEO Chanda Kochhar had once suggested a merger between ICICI and HDFC—long before HDFC's own reverse merger with HDFC Bank took place. The idea, though never pursued sheds light on what could have been one of the biggest mergers in India's banking history. In a YouTube video, former HDFC chairman Deepak Parekh recalled a conversation with former ICICI Bank MD & CEO Chanda Kochhar. He said, 'I remember you talking to me once…you said that ICICI started HDFC. 'Why don't you come back home?' That was your offer.' Parekh shared that he had politely declined the idea, saying, 'It won't be fair or proper with our name and the bank and all.' He also noted that the HDFC-HDFC Bank reverse merger, which was completed in July 2023, was largely driven by regulatory pressures. Former HDFC chairman Deepak Parekh revealed that the merger with HDFC Bank, completed in July 2023, was largely driven by regulatory pressure. The Reserve Bank of India had classified large NBFCs like HDFC—those with assets exceeding Rs 5 lakh crore as systemically important, crossing the Rs 50,000-crore threshold. Talking about the RBI's role, Parekh said, 'The RBI supported us and they pushed us into it to some extent and they helped us…there were no concessions, no relief, no time, nothing but they helped us to go through the process and get the approval.' Speaking about the process, Parekh said, "RBI supported us and they pushed us into it to some extent and they helped us." However, he made it clear there were "no concessions, no relief, no time, nothing." Reflecting on the day the merger was finalized, Parekh described it as "a sad day and a happy day." He added, "It's good for the institution." Deepak Parekh shared that the RBI played a key role in the HDFC-HDFC Bank merger. "RBI supported us and they pushed us into it to some extent and they helped us," he said. However, he clarified that the process wasn't made easier in any way, adding there were "no concessions, no relief, no time, nothing." Reflecting on the day the merger was completed, Parekh called it "a sad day and a happy day," and added, "It's good for the institution."
Time of India
22 minutes ago
- Time of India
Reducing acute dependence, countering China's near monopoly: India readies Rs 5,000 crore scheme for rare earth minerals
The incentives in India's proposed programme will be distributed through a reverse bidding mechanism. (AI image) India is readying a plan to reduce its acute dependence on China for rare earth minerals. The move comes at a time when China has imposed export curbs on rare earths and Indian industry has raised alarm bells on shortage of magnets and other components. India is looking at a Rs 3,500-Rs 5,000 crore scheme to promote the production of rare earth minerals and derived magnets domestically, with approval expected within two weeks, according to a senior government official. "The priority is to start domestic-critical mineral production in the shortest time period," the official told ET. China dominates global supply of rare earth magnets and has implemented export restrictions. These essential minerals, vital for manufacturing automobiles, electric vehicles (EVs) and renewable energy infrastructure, face supply constraints. The incentives in India's proposed programme will be distributed through a reverse bidding mechanism. This initiative follows an internal ministerial assessment that highlighted the necessity to diversify supply sources, given the substantial reliance on imports from China. Also Read | India bleeds Pakistan dry: Water at 'dead' levels in Pakistan's dams; bigger Indus river plans in the works - top points to know "Fresh steps are being taken to boost domestic availability of critical minerals," the official said, noting that a minimum of five major Indian companies have informally shown interest in manufacturing these materials during discussions with government authorities. India's Rare Earth Requirements The automotive sector has highlighted concerns about Chinese restrictions and requested governmental assistance. In April, Beijing introduced mandatory special export licences for seven rare earth elements and associated magnets. In India, manufacturers of EVs and wind turbines represent the primary consumers of rare earth elements, accounting for more than 50% of the projected domestic demand of 4010 metric tonnes in 2025. The overall requirement is anticipated to reach 8220 metric tonnes by 2030. Also Read | 'Dramatic decline…watch out…': China's exports to US dip sharply amid Trump trade war; why India needs to be on the guard Additionally, the government intends to modify the Mines and Minerals (Development and Regulation) Act to bolster the critical mineral initiative. Beyond regulatory adjustments, the Centre anticipates limited but commercially viable domestic production of rare earth permanent magnets to commence later this year. Financial support has been allocated to Midwest Advanced Materials Private Ltd, Hyderabad, by the ministry of science and technology. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
39 minutes ago
- Time of India
India Cements to sell its subsidiary Industrial Chemicals
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel New Delhi: India Cements Ltd (ICL), owned by the Aditya Birla group , on Saturday said it will sell its subsidiary Industrial Chemicals and Monomers to Mirai Sensing The board of the company has approved the sale with a consideration of Rs 97.68 crore, ICL said in a regulatory filing "Upon completion of the said sale, ICML would cease to be a subsidiary," ICL company shall enter into an agreement with Mirai Sensing Pvt Ltd, the proposed buyer, upon finalisation of terms, it expects the sale to be completed within six months from the date of the the country's leading cement maker, in December last year acquired the promoter's stake in the south-based cement ICL had become a subsidiary of UltraTech Cement with effect from December 24, 2024.
