Brigade Enterprises Limited has acquired a 4.04-acre land parcel in Neopolis Phase 3, Hyderabad, through an auction by the Hyderabad Metropolitan Development Authority. The acquisition cost was ₹118 crores per acre. This move builds upon Brigade’s existing presence in the same micro-market and underlines the company’s commitment to expanding in high-growth potential areas within Hyderabad.
Strategic Hyderabad Land Acquisition
Brigade Enterprises Limited has expanded its footprint in Hyderabad with the acquisition of a 4.04-acre plot (Plot No. 20) in Neopolis Phase 3. The acquisition was completed through an auction conducted by the Hyderabad Metropolitan Development Authority.
Financial Details
The company secured the land at a price of ₹118 crore per acre. This acquisition complements Brigade’s prior investment in the same area, which is currently being developed as Brigade Gateway (Plot No. 8), Hyderabad, further solidifying its market position.
Expansion Strategy
According to Amar Mysore, Executive Director, Hyderabad is a key market for Brigade’s expansion strategy. The company launched Brigade Gateway in Neopolis around the same time last year, a premium mixed-use development inspired by their Bengaluru project, bringing together key asset classes. This includes Orion Mall, World Trade Center Hyderabad, InterContinental hotel, and high-end residences.
Commitment to Growth
The current acquisition underscores Brigade’s commitment to investing in high-potential locations and developing well-designed, future-ready properties for its customers. The company has a robust pipeline of projects planned for Hyderabad.
Source: BSE