06-06-2025
- Business
- Business Standard
Brigade Ent rises after subsidiary sets up Auraterra Developers LLP
Brigade Enterprises rose 1.02% to Rs 1,275.45 after the company's wholly owned subsidiary, Brigade Tetrarch has announced the incorporation of a Limited Liability Partnership (LLP) named Auraterra Developers LLP.
The newly formed LLP has an initial capital contribution of Rs 99,990 and will be engaged in the development of real estate projects, the company said in a regulatory filing.
This move is part of Brigade Groups continued expansion into the real estate development space through its subsidiaries and associated entities.
The incorporation of a new Limited Liability Partnership (LLP), Auraterra Developers LLP, with a total capital contribution of Rs 1,00,000. The LLP is newly incorporated and currently has no turnover.
The acquisition of interest in Auraterra Developers LLP falls under related party transactions, as Brigade Tetrarch Private Limited, a wholly owned subsidiary of Brigade Enterprises, is a designated partner in the LLP.
Brigade Tetrarch holds a 99.99% stake in Auraterra Developers LLP through capital contribution. This strategic step is part of Brigades broader plans to expand its footprint in the real estate sector through new development partnerships and entities.
Brigade Enterprises is one of Indias leading property developers. The company has developed properties in cities like Bengaluru, Chennai, Hyderabad, Mysuru, Kochi, Gift City-Gujarat, Thiruvananthapuram, Mangaluru and Chikkamagaluru with developments across residential, office, retail and hotels.
Brigade Enterprises reported 19.76% jump in consolidated net profit to Rs 246.82 crore in Q4 FY25 as against Rs 206.09 crore reported in Q4 FY24. However, revenue from operations fell 14.21% year-on-year (YoY) to Rs 1,460.39 crore in the quarter ended 31 March 2025.
