Brigade Enterprises gains 2% after the launch of a new residential project in Bengaluru

In a filing to the stock exchanges on Thursday, the company said that its wholly-owned subsidiary Brigade Tetrarch Private Limited has launched ‘Cobalt at Brigade EI Dorado’, a residential tower at its 50-acre township in KIADB Aerospace Park in Bengaluru.

Brigade Enterprise informed the bourses that this project has a revenue potential of over ₹400 crore.

The overall project size of the township development is around 6.1 million square feet. The company said the township includes residential, shopping, wellness, and entertaining facilities comprising 948 single-bedroom apartments.

This project is aimed at catering to the demand for high-quality, sustainable real estate in the region. Cobalt at Brigade El Dorado fits perfectly into the demand, with its innovative design, commitment to sustainability, and a host of amenities; promising a living experience that impeccably blends the comforts of contemporary living with the tranquillity of nature, the company said.

The residential tower is expected to be completed in Q2FY29. This project is located just 15 minutes away from Kempegowda International Airport.

Commenting on the new project, Amar Mysore, Executive Director, Brigade Enterprises, said, "Potential home buyers in the region are primarily millennials, who aren’t just looking for houses, but rather accommodations that mirror their accomplishments and match their aspirations. Cobalt at Brigade El Dorado fits perfectly into that demand, with its innovative design, commitment to sustainability, and a host of amenities; promising a living experience that impeccably blends the comforts of contemporary living with the tranquillity of nature."

On July 3, Brigade Group announced a joint development residential project in west Bengaluru Tumkur Road earlier this month. This project is spread across 8 acres, and this will encompass a total development area of about 1.2 million square feet with an estimated Gross Development value (GDV) of about ₹1,100 crore.

In June, the company signed an agreement to develop a third tower of the World Trade Center (WTC) at Info Park Kochi. The project is expected to be completed in three years.

Brigade Enterprises shares were trading at ₹1,307.05 apiece, up 0.5%, on the NSE at 11:21 am