Brigade Enterprises acquires land in Velachery for premium residential development with GDV of Rs 1,600 crore
By Aman Shukla Published on May 14, 2025, 15:56 IST
Brigade Enterprises Limited, a part of Brigade Group, has acquired a 5.41-acre land parcel on Velachery Road in Chennai through an outright purchase. The land is strategically located next to Phoenix Market City and is positioned to benefit from the area's proximity to both the IT Corridor of OMR and the Central Business District (CBD).
This acquisition aligns with Brigade Group's plans for expansion in the Chennai real estate market. The project, with an estimated gross development value (GDV) of ₹1,600 Crore, is expected to have a development potential of approximately 0.8 million square feet. The total transaction value for the land is INR 441.70 Crores.
The development will aim to provide accessible living spaces with a focus on practical amenities. Brigade Group intends to incorporate design elements that combine aesthetics, functionality, and sustainability into the project. The project is also expected to offer a variety of premium amenities to enhance the living experience for future residents.
Pavitra Shankar, Managing Director, Brigade Enterprises Limited stated, 'Chennai has grown into our second largest market after consistent and strategic investment in business development. This acquisition reinforces our commitment to expanding our footprint in the city with a focus on marquee land parcels in excellent locations. Our aim is to address the strong demand for thoughtfully designed high-quality residential spaces that resonate with the aspirations of modern consumers. Velachery's prime location and connectivity make it an ideal choice for creating a vibrant community, aligning with our vision of delivering exceptional living experiences.'
Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at BusinessUpturn.com
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Upturn
3 hours ago
- Business Upturn
Tata Power subsidiary crosses 4 GW solar module production milestone at Tamil Nadu facility
TP Solar Limited (TP Solar), a wholly owned subsidiary of Tata Power Renewable Energy Limited (TPREL), announced it has surpassed 4 GW in cumulative solar module production at its solar manufacturing facility in Tamil Nadu. The milestone reflects production of 4,049 MW of solar modules and 1,441 MW of solar cells as of May 31, 2025. The Tamil Nadu plant, developed to comply with India's Domestic Content Requirement (DCR) norms, is equipped to produce high-efficiency Mono PERC (Passivated Emitter and Rear Cell) and TopCon (Tunnel Oxide Passivated Contact) modules. These are manufactured using automated and AI-driven technologies aimed at improving efficiency and throughput. Looking ahead, TP Solar has outlined targets for FY26 to produce 3.7 GW of solar cells and 3.725 GW of solar modules, aligning with India's national goal of achieving 500 GW of non-fossil fuel capacity by 2030. The manufacturing facility supplies modules for Tata Power's diverse project pipeline, including utility-scale solar farms, hybrid energy parks, and distributed rooftop systems. It also fulfills requirements for third-party installations across the country. TP Solar's Tamil Nadu facility is part of Tata Power's broader efforts to localize the solar energy supply chain and reduce import dependency. The plant's rated capacity of 4.3 GW is expected to be fully utilized by FY26. In addition to its production capabilities, the plant integrates sustainability measures, including energy-efficient operations and green building standards. A key aspect of the facility is its workforce composition: more than 80% of shop floor employees are women, supporting broader inclusion in the clean energy manufacturing sector. TPREL also operates a 682 MW solar module and a 530 MW solar cell facility in Bengaluru. This plant runs at full capacity and is focused on meeting DCR compliance needs. With vertically integrated operations across manufacturing, engineering, and deployment, TP Solar is positioned to contribute significantly to India's clean energy transition. Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
Yahoo
6 hours ago
- Yahoo
Royal Orchid Hotels Ltd (BOM:532699) Q4 2025 Earnings Call Highlights: Strategic Expansion and ...
Revenue (Q4 FY25): ?92.34 crore, up 12% year-on-year. EBITDA (Q4 FY25): ?25.52 crore, up 7% year-on-year. Profit After Tax (Q4 FY25): ?13.15 crore, decline due to lease renewal and deferred tax credit adjustments. Full Year Revenue (FY25): ?343 crore, growth of 10% over the previous year. Full Year EBITDA (FY25): ?96.8 crore, growth of 2% compared to ?95.16 crore in the previous year. Profit Before Tax (FY25): Increased by 5.5% year-on-year. EPS (FY25): ?17.23. Hotel Expansion (FY25): Added 14 hotels with 963 rooms; total 115 hotels with 9,583 keys. Vision 2030: Targeting 345 hotels and 20,000+ keys. Return on Capital Employed (ROCE): Sustained at 25%+. Release Date: June 06, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Royal Orchid Hotels Ltd (BOM:532699) reported a 12% year-on-year increase in Q4 FY25 revenues, reaching INR 92.34 crore. The company successfully launched Iconica, a new upscale lifestyle hotel near Mumbai International Airport, featuring innovative amenities like a dry cleaning and steam iron closet in every room. Royal Orchid Hotels Ltd (BOM:532699) has a clear growth strategy with a vision to expand to 345 hotels and over 20,000 keys by 2030. The company has invested in AI-driven technologies to enhance operational efficiency and customer experience, including AI-based guest chatbots and revenue management systems. The introduction of the Regenta Rewards loyalty program aims to increase repeat business and customer engagement, with nearly half a million members already enrolled. Despite revenue growth, the company's EBITDA only increased by 7%, indicating potential margin pressures. The year-on-year decline in profit before tax was attributed to lease renewal costs and deferred tax credits from previous acquisitions. The company faces challenges in brand recognition, as highlighted by concerns over the unfamiliarity of new brand names like Iconica compared to the established Royal Orchid brand. There are concerns about the costs associated with promoting multiple new brands, which could impact profitability. The company's margins have been volatile over the past few years, with recent investments in hotel upgrades impacting short-term profitability. Q: How does Royal Orchid plan to promote its new brand categories, given that the parent brand is more recognized? A: Arjun Baljee, President, explained that while Royal Orchid is the parent company, the focus is on promoting individual brands like Regenta and Iconica. The strategy is to add value through branding, similar to how Marriott uses its brand hierarchy. The aim is to create distinct identities for each brand to cater to specific market segments. Q: What are the expected financial outcomes from the new Iconica hotel in Mumbai? A: The CFO, Amit Jawal, stated that the Iconica hotel is expected to contribute approximately 100 crores to the top line annually. For the current year, it will contribute for nine months, resulting in about 75 crores. The investment is expected to break even in the first quarter, with the refundable deposit being deducted from the rent over time. Q: Can you elaborate on the growth strategy to achieve the Vision 2030 goals? A: Arjun Baljee outlined the plan to triple the number of hotels to 345 and increase keys to 22,000 by focusing on brand architecture, smart execution, and maintaining a high return on invested capital. The strategy includes expanding the Regenta Z brand and leveraging asset-light models to achieve rapid growth. Q: How will the Regenta Rewards program enhance customer loyalty and repeat business? A: Arjun Baljee mentioned that the Regenta Rewards program, launched six months ago, has nearly half a million registered users with a 14-18% repeat usage rate. The program aims to reduce customer acquisition costs and increase repeat bookings by offering seamless integration across all hotels and allowing points to be redeemed for various services. Q: What is the business model distribution across Royal Orchid's hotel portfolio? A: The CFO, Amit Jawal, detailed that the company operates 3 owned hotels, 5 leased hotels, 5 revenue-share hotels, 75 managed hotels, and 26 franchise hotels. The revenue-share model involves a percentage of the top line as lease payment, while managed and franchise hotels earn fees based on revenue and operating profits. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Business Upturn
8 hours ago
- Business Upturn
Nifty 50 top gainers today, June 9: Jio Financial Services, Kotak Mahindra Bank, Bajaj Finance, Trent and more
By Aman Shukla Published on June 9, 2025, 15:38 IST Indian benchmark indices continued their upward momentum for the fourth consecutive session on June 9, 2025. The Nifty 50 closed above the 25,100 mark for the first time, settling at 25,103.20, up 100.15 points (0.40%). The Sensex also ended higher by 256.22 points (0.31%) at 82,445.21. Among the Nifty 50 stocks, several companies recorded significant gains, led by Jio Financial Services, Kotak Mahindra Bank and Bajaj Finance. Below is a detailed look at the top gainers of the Nifty 50 (as per Trendline) for the day. Nifty 50 Top Gainers on June 9 Jio Financial Services closed at ₹305.5, registering a 3.9% gain. Kotak Mahindra Bank ended the day at ₹2140.8, up by 3.3%. Bajaj Finance rose 2.7% to close at ₹9624.0. Trent gained 2.5%, finishing at ₹5922.0. Axis Bank closed at ₹1220.5, marking a 2.2% increase. Adani Enterprises ended at ₹2582.0, up 1.9%. Hero MotoCorp advanced 1.7% to close at ₹4342.0. IndusInd Bank rose 1.6%, settling at ₹836.0. Power Grid Corporation gained 1.6%, closing at ₹300.5. Bajaj Finserv also ended 1.6% higher at ₹2021.0. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Bajaj FinanceJio Financial ServicesKotak Mahindra BankNiftyTrent Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
