Real estate developer Brigade Group plans to invest over ₹8,000 crore by 2030 to expand its business in Chennai.
The company has launched the Brigade Icon Residences project on Mount Road, Chennai, a stock exchange filing disclosed.
The project is designed by Singapore-based SOG Design. The building will have 38 floors, with three-, four-, and five-bed apartments measuring 2,500 sqft onwards. The GDV will be over ₹1,800 crore.
In FY25, the company plans to launch over 3 million sqft of residential projects and about one million sqft of commercial development in Chennai.
Pavitra Shankar, Managing Director, Brigade Enterprises Ltd, said, “Our aim is to double our growth in the city by expanding all four verticals of residential, commercial, retail and hospitality. All sectors are witnessing strong demand. We have already signed MoUs with the State Government for four projects as part of their Global Investors Meet, approvals of which are in process.”
Shares of Brigade Enterprises declined by 3.14 per cent to trade at ₹1,355.50 on the NSE as of 12.32 pm.