Brigade Group to Develop ₹750-Crore Commercial Space on Old Airport Road, Bengaluru

Bengaluru-based real estate developer Brigade Group, through its subsidiary Brigade Tetrarch Private Limited, has entered into a Limited Liability Partnership (LLP) to develop a ₹750-crore commercial space on Old Airport Road. The project will feature 1.4 million square feet of leasable area, expected to generate an annual lease income of ₹100 crore.

Nirupa Shankar, Joint Managing Director of Brigade Group, stated, “This project reflects our commitment to develop world-class tech-enabled commercial spaces, with adequate amenities that will cater to the dynamic needs of businesses. We are confident that this development will set new benchmarks in the commercial segment and contribute significantly to the economic growth of the city.”

Strategically located on Airport Road, a prime commercial hub, the project promises excellent connectivity and accessibility. This new venture aligns with Brigade Group’s broader growth strategy, coming on the heels of their announcement to develop an 8-acre housing project worth ₹1,100 crore in Bengaluru.

This development follows Brigade Enterprises Limited’s impressive financial performance, reporting a nearly four-fold year-on-year increase in net profit for the April-June quarter of FY 2024-25, reaching ₹81 crore, compared to ₹22 crore in the same period last year. Consolidated revenue from operations grew to ₹1,113 crore from ₹685.43 crore year-on-year. Brigade Enterprises also recorded presales of ₹1,086 crore and a sales volume of 1.15 million square feet during the quarter ended June 30, with an average realization of ₹9,483 per square foot.

Established in 1986, Brigade Enterprises Ltd has developed several landmark buildings across Bengaluru, Chennai, Hyderabad, Gift City-Gujarat, and Thiruvananthapuram, covering residential, office, retail, and hotel developments.