Brigade Enterprises expects over Rs 400 cr revenue from new housing tower in Bengaluru

Bengaluru: Realty firm Brigade Enterprises is expecting more than Rs 400 crore revenue from its newly-launched residential tower in Bengaluru.

The company has launched residential tower 'Cobalt' at its 50-acre township, Brigade El Dorado, located in KIADB Aerospace Park.

"Comprising 948 one-bedroom apartments, the company has pegged the potential revenue value at over Rs 400 crore," Brigade said in a regulatory filing on Thursday.

The overall size of this township is around 6.1 million (61 lakh) square feet including residential, shopping, wellness, and entertainment facilities.

"In the recent past, there has been a surge in the number of multinational companies that have chosen to set up shop in North Bengaluru, creating a demand for skilled talent. This in turn has fuelled the growth and demand for high quality, sustainable real estate in the region," Amar Mysore, Executive Director, Brigade Enterprises said.

Potential home buyers in the region are primarily millennials, who aren’t just looking for houses, but rather accommodations that mirror their accomplishments and match their aspirations, he added.

Established in 1986, Brigade Group is one of India’s leading property developers.

The company has developed projects in Bengaluru, Chennai, Hyderabad, Mysuru, Kochi, Gift City-Gujarat, Thiruvananthapuram, Mangaluru and Chikkamagaluru. It is into development of residential, office, retail and hotel projects.