Brigade Enterprises Limited was incorporated on November 8, 1995 as a real estate development company. Since then, Company primarily engaged in real estate development, leasing and hospitality and related services in South India. It is one of the leading property developers in the cities of Bangalore, Mysore, Kochi, Hyderabad, Mangaluru, Chikmagaluru, Ahmedabad & Chennai.
The company completed the construction of Brigade Gardens in January 1992. In April 1994, they completed the luxury apartments project, Brigade Residency in Mysore, which
Brigade Enterprises Limited was incorporated on November 8, 1995 as a real estate development company. Since then, Company primarily engaged in real estate development, leasing and hospitality and related services in South India. It is one of the leading property developers in the cities of Bangalore, Mysore, Kochi, Hyderabad, Mangaluru, Chikmagaluru, Ahmedabad & Chennai.
The company completed the construction of Brigade Gardens in January 1992. In April 1994, they completed the luxury apartments project, Brigade Residency in Mysore, which is first one outside Bangalore. In June 2000, they launched 'Homestead I' range of luxury service apartments in Bangalore and in December 2001, they completed the project namely Komarla Brigade Residency, which is an eco-friendly building.
In August 2002, Brigade Developers Pvt. Ltd and Brigade Investments and Projects Pvt. Ltd merged with company with effect from April 1, 2001. In June 1, 2004, the company incorporated Brigade Hospitality Services Pvt. Ltd as a 100% subsidiary company. In October 2005, Brigade Constructions Pvt. Ltd merged with company with effect from April 1, 2004. In June 2006, they completed the project, Brigade Millennium, which is an integrated lifestyle enclave in Bangalore.
The company incorporated Brigade Estates and Projects Pvt. Ltd and Brigade Properties Ltd on December 7, 2006 and May 16, 2007 respectively. The company completed the projects, Brigade Gateway at Malleswaram and Brigade Metropolis at Whitefield during the years, which are a part of integrated lifestyle enclaves developed by the company.
In July 2008, the company won a bid for the property of 10.5 acres on Old Madras Road, Bangalore. Also, they launched their IT SEZ project, Kochi. The company had recently bagged the tender to co-develop five acres of land in Kochi to develop about 6 lakh sq ft IT SEZ space. The project is expected to be completed in about 2 years.
Brigade Enterprises Ltd has secured a spot in the latest annual 'Best Under a Billion' list for the Asia-Pacific region in the US magazine Forbes.During the year under review, BCV Developers Private limited became a subsidiary of the Company with effect from 21st January 2015. BCV Developers Private Limited owns the land wherein the Brigade Orchards, the first smart township project in Bangalore is being developed by the Company on 130 plus acres of land.
Brigade (Gujarat) Projects Private Limited was incorporated on 26th March 2015 as a wholly owned subsidiary of the Company, which would undertake the development of 1.1 mn. sq. ft. development at Gujarat International Finance Tec-city (GIFT City), Ahmedabad.
Brigade Properties Private Limited, subsidiary of the Company had acquired the entire shareholding in Brooke Bond Real Estates Private Limited on 23rd March 2015. Due to this acquisition, Brooke Bond Real Estates became a wholly owned subsidiary of Brigade Properties Private Limited and a step down subsidiary of the Company. Brooke Bond Real Estates Private Limited owns a landmark SEZ property admeasuring 26.5 acres known as 'Brookefields'.
During the year 2015, the Company has entered into a framework agreement with GIC, Singapore for jointly investing upto Rs 1,500 crores within a time frame of 3 years for acquiring properties for mixed-use development in the major cities in South India. The Partnership with GIC got further strengthened with the acquisition of Brooke Bond Real Estates Private Limited, which holds a prime SEZ land popularly known as 'Brookefields.'In FY 2015, BCV Developers Private Limited, a subsidiary company had filed a scheme of amalgamation with two joint venture companies {BCV Estates Private Limited and CV Properties (Bangalore) Private Limited} with the appointed date for the scheme being 1st October 2013. The scheme has been sanctioned by the Hon'ble High Court of Karnataka and the process of amalgamation is currently pending for filing with the Registrar of Companies.
During the year 2015, Prosperita Hotel Ventures Limited, a wholly owned subsidiary of the Company (transferee company) along with Subramanian Engineering Company Limited (transferor company) had filed a scheme of demerger with the appointed date for the scheme being 1st October 2013. The scheme of demerger has been sanctioned by the Honourable High Court of Madras recently. The effect of the demerger would be given in the books of Prosperita Hotel Ventures Limited after the Court Order is filed with the Registrar of Companies.
During the year 2015, Brigade Group entered into partnerships with online real estate portals for online offers on its luxury projects. The Company launched an online booking platform for customers to book a Brigade apartment online in a few easy steps. It also rolled out a customer portal, which is the first by a Bangalore Developer. This portal allows residential buyers to access details of the home they purchased.
During the year 2016, the Company entered into joint venture with Reco Caspia Private Limited an investment arm of GIC, Singapore& sovereign wealth fund for acquisition of 16-acre prime property in Chennai from M/s. Kansai Nerolac Paints Limited. The acquisition was done through JV - M/s Perungudi Real Estates Private Limited.
During the year 2017, two wholly owned subsidiaries namely Brigade Hotel Ventures Limited and Augusta Club Private Limited were incorporated to facilitate a Scheme of Arrangement for hiving-off of the hotels' business, integrated clubs and convention centres business of the Company. Further investment in Mysore Projects Private Limited (MPPL) was made by way of subscription to shares and acquiring shares from the existing shareholders thereby making MPPL a wholly owned subsidiary of the Company. The Company incorporated Brigade Innovations LLP, a wholly owned subsidiary for undertaking real estate accelerator programme.
During the year 2017, the Board of Directors of the Company approved the hiving off of the hospitality business in to wholly owned subsidiaries. The Scheme of arrangement was filed with both Stock Exchanges i.e. National Stock Exchange of India Limited on January 25, 2017 and BSE Limited on January 24, 2017 pursuant to Regulation 37 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 and the Company has received the observation letters from the stock exchanges. The implementation of the Scheme will be completed in the next financial year.
During the year the Board of Directors of the Company approved raising of capital of upto Rs. 500 crores on private placement basis through various means viz. Qualified Institutional Placement, Rights Issue, Preferential Issue etc. in its meeting held on May 16, 2016 and the same was approved by the Shareholders in the 21st Annual General Meeting held on August 31, 2016.
During the year 2018, the Scheme of Arrangement between the Company and its three wholly owned subsidiaries namely Brigade Hotel Ventures Limited, Brigade Hospitality Services Limited and Augusta Club Private Limited for transfer of the hotel business undertaking, integrated clubs and convention centres business undertaking and Augusta Club business undertaking respectively to the said subsidiaries were approved by the Secured Creditors, Unsecured Creditors and Shareholders of the Company in their respective meetings. The appointed date for the Scheme of Arrangement was October 01, 2016. The Hon'ble National Company Law Tribunal Bengaluru passed the Order approving the Scheme of Arrangement on March 13, 2018. The Order was filed with the Ministry of Corporate Affairs on April 01, 2018. The Scheme of Arrangement will enable focused approach for the respective business undertakings for growth and to unlock the intrinsic value at the appropriate time.
During the year 2018, the Company has successfully completed a Qualified Institutional Placement (QIP) raising Rs. 500 crores from Qualified Institutional Buyers by issue of 2,19,78,021 equity shares of Rs. 10/- each at an issue price of Rs. 227.50 per equity share including premium of Rs. 217.50 per share. The monies raised has been utilised in line with the objects to the issue mentioned in the Placement Document.
The Company had 13 direct subsidiaries, 2 step down subsidiaries, 2 limited liability partnerships and 1 associate company as at March 31, 2019. In FY'19-20, the Company launched Bricklane in North Bengaluru, which has 750 units. During the financial year 2018-19, the Company completed construction work aggregating a total of 4.81 mn. sqft. It launched total area of 5.8 mn. Sqft in the residential space including, Brigade Woods, Brigade Bricklane, Brigade Plumeria lifestyle, Brigade Parkside at Mysore Road, Sarjapur, Jalahalli and Pre-launch of Brigade Cornerstone Utopia Phase -1. Real Estate space aggregating to 2.96 mn. sqft. with total value of Rs. 1,644 crores was sold during FY 2018-19. . In the Hospitality business, Four Points by Sheraton, Kochi opened in January, 2019 with 218 keys, taking the total operational keys to 1194 across 6 hotels. During the year 2019, a Memorandum of Understanding with Technopark, Government of Kerala was entered, for developing the iconic World Trade Center (WTC) at Technocity, Thiruvananthapuram with a potential to build over 2 mn. sqft. It launched BuzzWorks,
a new co-working space business an initial plan of adding 2,500+ seats across Bengaluru, Kochi and GIFT City (Gujarat) in March, 2019.
During financial year 2019-20, Company launched five new residential projects including Brigade Topaz, Brigade El Dorado- Gallium and Helio and Brigade Cornerstone Utopia- Halycon. It launched around 12 projects including 9 projects in Bengaluru, 2 in Chennai and 1 in Mysuru. The projects launched aggregated to a total of 5.28 msf of which 4.16 msf was for residential including 2 projects in the affordable housing segment of 1.4 msf. Further, it launched commercial projects of 1.12 msf and added 151 keys to the hospitality portfolio. It completed the construction project of of 5.82 mn. sq. ft.
During financial year 2020-21, the Company completed construction project aggregated to 4.44 mn. sq. ft. It launched around 11 projects including 6 projects in Bengaluru, 2 in Chennai and 3 in Hyderabad, which aggregated to a total of 6.03 million square feet (msf), of which 4.51 msf was for residential space and 1.52 msf was for commercial space. During the third quarter of FY21, it operationalised another property in Bengaluru - Holiday Inn Express & Suites - with 129 keys and achieved 26% occupancy level.
On June 21, 2021, the Company launched the offering of its equity shares through a Qualified Institutions Placement (QIP) in accordance with the provisions of Chapter VIII of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009. Pursuant to QIP, the Company received an amount of Rs 50,000 Lakhs against the issue of 1,86,56,716 equity shares of face value of Rs 10 each to Qualified Institutional Buyers and the same were allotted and listed for trading on the National Stock Exchange of India Limited and Bombay Stock Exchange Limited from June 25,2021.
In FY'22, the Company ventured into plotted development, Industrial Parks and Logistic segment.
During the year 2023, the Company completed Phase I Brigade Atmosphere, Brigade Bricklane, Residences at Brigade Tech Gardens, Brigade Northridge Neo, Brigade Orchards - Kino, Brigade Parkside East, Brigade 7 Gardens and Brigade Parkside North. It launched 14 projects totaling 5.46 Million sq. ft, of which 0.19 Million sq. ft was for commercial space and the balance was for residential and plotted space, which included Brigade Orchards, Neem Grove, Brigade Eldorado, Iridium Block, Brigade Atmosphere, Pearl Block, Brigade Nanda Heights, Brigade Horizon, Brigade Eldorado, Emerald Block, Brigade Oasis, Phase 1, Brigade Oasis, Phase 2, Brigade Calista, Phase 1, Brigade Eldorado, Luminaire Block, Brigade Valencia, Cielo Block, Residences@ Brigade Tech Gardens located in Bengaluru; Brigade Oak Tree Place in Mysore and Brigade Square in Trivandrum for Commercial purpose.
During the year 2022-23, BCV Real Estates Private Limited was incorporated as a wholly owned subsidiary of BCV Developers Private Limited, subsidiary of the Company on May 4, 2022; Tandem Allied Services Private Limited, an associate company became a step down subsidiary with effect from June 30, 2022; Tetrarch Real Estates Private Limited became a wholly owned subsidiary of the Company with effect from January 13, 2023; Mysore Projects Private Limited, a wholly owned subsidiary of the Company has ceased to be Designated Partner of Prestige OMR Ventures LLP with effect from September 30, 2022. Due to this Prestige OMR Ventures LLP ceased to be an Associate of Brigade Enterprises Limited with effect from September 30, 2022.
The Company established Ramaiah Memorial Hospital at Brigade Orchards, its 135-acre integrated smart township in 2024. It launched Brigade Icon on Mount Road, Chennai. It opened 108-bed St. John's Medical College Hospital at Brigade Meadows in FY24.
The Company launched Brigade Citrine, India's first net-zero Carbon residential development in FY 2025. It opened Venkatappa Art Gallery in Bengaluru. It launched premium residences as InterContinental Hotel and Orion Mall in Hyderabad in FY 2025.
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