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
Time of India
24 minutes ago
- Time of India
FIR against HDFC Bank MD-CEO by loan defaulter
FIR against HDFC Bank MD-CEO by loan defaulter An FIR has been filed against HDFC Bank's MD and CEO by a certain Mehta family that defaulted on a bank loan provided back in 1995. The private lender informed stock exchanges on Sunday evening, as it vowed to continue all lawful remedies to recover the dues from the defaulter. In 2001, Splendour Gems Limited, owned by the Mehta family, defaulted on loan facilities granted in 1995 by HDFC Bank along with the other consortium banks, the HDFC Bank informed stock exchanges. Despite a recovery certificate issued by the Debt Recovery Tribunal in 2004 and subsequent enforcement actions, the dues remain substantially unpaid, the bank said. The outstanding dues towards HDFC Bank, including interest, amount to approximately Rs 65.22 crore as on May 31, 2025. "In response to ongoing recovery proceedings, members of the Mehta family have initiated multiple legal actions and complaints against HDFC Bank and its senior officials. These include criminal complaints, minority rights petitions, and representations to regulatory authorities--all of which have been dismissed or are under legal challenge. HDFC Bank firmly believes that these allegations are retaliatory in nature and have mala fide intention solely at evading repayment of long-standing dues," the bank said in its statement. Mehta Family, once again, through Lilavati Kirtilal Medical Trust, has filed a complaint against HDFC Bank's MD and CEO. HDFC Bank unequivocally "rejects and strongly condemns the malicious and baseless allegations levelled and maintains that these allegations are completely false, outrageous and constitute a gross misuse of the legal process." HDFC Bank firmly believes that "these actions (by Mehta family) are a deliberate attempt to obstruct and undermine legitimate recovery proceedings related to substantial long-outstanding dues owed by Splendour Gems Limited." "Having exhausted all legal avenues without success, these individuals have now resorted to launching personal attacks against HDFC Bank and its MD and CEO in a clear attempt to malign their reputation and intimidate HDFC Bank into halting its recovery actions. These actions appear to be a calculated distraction from their own failures and liabilities," the bank added. In the statement, HDFC Bank reiterates its commitment to the highest standards of corporate governance. HDFC Bank said it has robust internal controls and compliance mechanisms to ensure adherence to legal and regulatory requirements. "HDFC Bank's governance framework is designed to uphold transparency, accountability, and ethical conduct in all its operations. HDFC Bank believes in fostering a culture of ethics and integrity ensuring that the highest standards of corporate governance are maintained. HDFC Bank's commitment to ethical conduct is reflected in its policies, procedures and actions," HDFC Bank said. "HDFC Bank will continue to pursue all lawful remedies to recover public funds and address the retaliatory actions taken by the Mehta family as well as to defend the reputation and integrity of the Bank, its Directors and other employees. HDFC Bank remains dedicated to upholding its reputation for corporate governance and ethical conduct," HDFC Bank concluded its statement. 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
24 minutes ago
- Time of India
RBI repo cut effect: HDFC slashes lending rates by 10 bps; new rates already in effect
Private sector lender HDFC Bank has reduced its benchmark lending rates following the Reserve Bank of India 's (RBI) unexpected decision on Friday to cut the repo rate by 50 basis points in a bid to revive the slowing economy. The bank revised its marginal cost of funds-based lending rates (MCLR) downward by 10 basis points across all loan tenures. According to its website, the new rates came into effect on 7 June. The overnight and one-month MCLR now stands at 8.90%, the three-month at 8.95%, and the six-month and one-year tenures are down to 9.05%. The two- and three-year rates have been trimmed from 9.20% to 9.10%. The changes follow the RBI's latest policy review, in which the central bank not only delivered a sharper-than-expected 50 basis point repo rate cut to 5.5% but also surprised markets by reducing the cash reserve ratio (CRR) by 100 basis points to 3%. The CRR cut is expected to infuse an additional Rs 2.5 lakh crore into the banking system. The RBI's monetary policy committee, led by Governor Sanjay Malhotra, voted 5-1 in favour of the rate cut, signalling a stronger push to support lending and spur economic activity. This latest move brings the total rate cuts for 2025 to 100 basis points, following earlier reductions in February and April. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
NDTV
28 minutes ago
- NDTV
Man Uncovers Father's 1990s JSW Shares Worth Rs 1 Lakh, It's Now Valued At...
A man recently stumbled upon a life-changing fortune after discovering old JSW Steel share certificates his father purchased in the 1990s for just Rs 1 lakh. After holding onto the shares for 30 years, they're now valued in crores, creating "generational wealth" and sparking widespread amazement on social media. This incredible turn of events highlights the power of long-term investing, proving that patience can indeed yield extraordinary returns. In a post on X, investor Sourav Dutta shared a story about a Reddit user who inherited JSW Steel shares from his father, who bought them in 1990 for Rs 1 lakh. Today, those shares are valued at approximately Rs 80 crore. "Guy on Reddit discovered JSW shares bought by his dad in the 1990s for ₹1L. Worth ₹80Cr today. Power of buy right sell after 30yrs," investor Sourav Dutta wrote on X. See the tweet here: Guy on Reddit discovered JSW shares bought by his dad in the 1990s for ₹1L. Worth ₹80Cr today. Power of buy right sell after 30yrs. — Sourav Dutta (@Dutta_Souravd) June 7, 2025 The post resonated with many on X, who shared their views on the benefits of long-term investing. Many also congratulated the Reddit user and shared their own stories of successful buy-and-hold strategies, highlighting the potential for significant gains with patience and persistence. One user wrote, "Now, he can retire and live his life peacefully. Can even make a good business from it, a huge congratulations to him." Another commented, "People don't realise how stock splits, bonuses and dividends add up over time, it's magical." A third said, "Don't be in a rush to sell good businesses. If fundamentals are intact, let time do the heavy lifting. This is not just investing, this is legacy creation." A fourth added, 'Bro, but if someone had 1 lac to dump in the 1990s and forget about it, then probably the family was insanely rich irrespective of today's share value." Notably, JSW Steel Ltd is a leading steel manufacturer in India, with a strong market presence and a growing global footprint. As of now, the company's share price is around Rs 1004.90, with a market capitalisation of RS 2.37 trillion. JSW Steel's shares have shown significant growth over the years, rewarding long-term investors handsomely.
