Realty firm Brigade Group has acquired 4.6 acres of land to build a housing project with a revenue potential of Rs 660 crore.
In a statement, the company said it has signed a "definitive agreement for a prime land parcel located on Old Madras Road, Bengaluru".
Spread across 4.6 acres, the total development potential of the residential project will be around 0.69 million square feet with a gross development value of Rs 660 crore.
"We are actively pursuing land acquisition opportunities in our target markets and continue to add high-quality assets to our land bank," Pavitra Shankar, Managing Director of Brigade Enterprises Ltd, said.
This project is strategically located and contributes to its overall residential growth strategy, she said.
"We will develop a residential property that will be executed keeping in mind customer preferences for quality and sustainability," Shankar said.
Brigade Group has a healthy pipeline of new launches of around 12.61 million square feet in residential across Bengaluru, Chennai, and Hyderabad.
Established in 1986, Brigade Enterprises Ltd is one of India's leading property developers.
Brigade has developed many projects across Bengaluru, Chennai, Hyderabad, Mysuru, Kochi, Gift City-Gujarat, Thiruvananthapuram, Mangaluru, and Chikkamagaluru.
