Brigade to develop ₹2,000-crore Chennai high-rise project with PVP Ventures

"Brigade Hotel Ventures Limited, a Wholly Owned Subsidiary of the company has signed a 45-year lease agreement with the Landowners to build a 250-room resort on East Coast Road (ECR) in Chennai," the company said.

“Bengaluru, Chennai, and Hyderabad are key focus markets for Brigade and this strategic expansion in the residential and hospitality sectors are an integral part of the overall growth plan. We have a land bank of over 12 million square feet of residential projects across Chennai, which will be our second biggest market after Bengaluru," said Pavitra Shankar, Managing Director of Brigade Enterprises.

"We currently have a collective operational room count of around 1,500 rooms across five cities. The ECR property in Chennai will be our first resort and is part of our plan to increase our total room count by another 1,200 keys over the next four years," said Nirupa Shankar, Joint Managing Director of Brigade Enterprises.

Shares of Brigade Enterprises Ltd ended at ₹1,009, up by ₹24.80, or 2.52%, on the BSE.