Brigade Enterprises has acquired 13 acres of land for Rs 218 crore in Bengaluru, the capital city of Karnataka.
It will develop an IT park there. Speaking to CNBC-TV18, Brigade Group’s chief financial officer KP Pradeep, CFO of Brigade Group said thr purchase of Bengaluru land was done through internal accruals.
He stated that they currently have commercial leasing space of 2.4 million square feet.
On rentals, he said rentals are stable and expect them to remain stable going forward. Talking about hospitality business front, he said we expect to find an investor for the business by Q1 of FY19.
Debt is moving in-line with the project pipeline, according to Pradeep.
Image Credit : brigadeprod.s3.amazonaws.com