Brigade Group to invest ₹ 8,000 crore in Chennai by 2030, launches new project

The company said it has planned an investment of over ₹8,000 crore by 2030 in Chennai to expand its business in the city, with a strong pipeline of projects across the spectrum of residential, office, retail and hospitality for over 15 million square feet (sqft). Brigade said the gross development value (GDV) of the residential projects alone is estimated to be over ₹13,000 crore.

The Brigade Icon Residences project has been designed by SOG Design based out of Singapore. The residences will be ground plus 38 floors (G +38 floors), featuring three, four and five-bed apartments from 2,500 sqft onwards with a GDV of over ₹1,800 crore.

Pavitra Shankar, Managing Director, Brigade Enterprises said the company’s aim is to double its growth in the city by expanding all four verticals of residential, commercial, retail and hospitality. “All sectors are witnessing strong demand, and we believe that our contribution to each of these sectors will make a difference not only to the city but also to the lifestyle of people in the city. We have already signed MoUs with the state government for four projects as part of their global investors meet, approvals for which are in process,” Shankar said.

In Chennai, Brigade Group has completed over 5 million sqft across residential, office, hospitality and retail real estate. Its flagship project, the World Trade Center Chennai in Perungudi, OMR is over 90% leased. The firm pointed out that it has a pipeline of over 15 mn sqft across all the segments, with the residential segment comprising over 12 million sqft. In FY25, Brigade plans to launch over 3 million sqft of residential projects and about 1 million sqft of commercial development in Chennai.

Shares of the company have gained over 50% since the beginning of the year. The stock has gained over 138% in the last one year.