Brigade Enterprises shares gain on joint development pact with United Oxygen

Shares of Brigade Enterprises gained in the opening trade on April 4 after the company entered into a joint development agreement for an office space in Whitefield, Bengaluru.

At 9:25am, Brigade Enterprises was quoting Rs 949.65, up Rs 6.55, or 0.69 percent, on the BSE.

"The company has signed a joint development agreement (JDA) with United Oxygen Company Private Limited to develop a ‘Grade A’ office space on ITPL Road, Whitefield, in East Bengaluru. The project will have a leasable area of 3 lakh sq ft, and a gross development value (GDV) of around Rs 340 crore," the company said in a press release.

“Bengaluru continues to be the most favoured office leasing market, and demand continues to improve in the Whitefield micro market. Given this property’s prime location, metro connectivity and its innovative and sustainable design at the forefront, we are confident that this project will perfectly align with the growing need of an ideal solution for professionals seeking top-tier work facilities," said Nirupa Shankar, joint managing director of Brigade Enterprises.

In March, the company launched project ‘Dioro’ at Brigade El Dorado at a size of around 6.1 million square feet and is expected to be completed by Q2 FY29.

In February, it signed a joint development agreement with PVP Ventures Ltd to develop a 2.5 million square feet, high-rise residential project in Chennai.