Brigade Enterprises commits Rs 34 bn investment in Tamil Nadu's Growth
10 Jan 2024
2 Min Read
CW Team
On January 8, Brigade Enterprises inked two Memoranda of Understanding (MoUs) with the Tamil Nadu government, committing to invest more than Rs 34 billion in the state over the next 3-4 years.
These agreements were formalised during the Tamil Nadu Global Investors Meet (GIM) 2024, with Chief Minister MK Stalin in attendance.
The first MoU, in collaboration with the Chennai Metropolitan Development Authority (CMDA), outlines Brigade Group's ambitious expansion plans in Chennai. It includes the construction of two high-rise residential buildings in the IT hub of Sholinganallur, with an investment exceeding Rs 20 billion.
The second MoU was established with the Electronics Corporation of Tamil Nadu (ELCOT), Information Technology and Digital Services Department, Government of Tamil Nadu. This agreement entails an investment of approximately Rs 14 billion for the development of high-rise commercial and residential projects in various micro-markets across Chennai, including Mount Road.
The slated completion for these projects is within the next 3-4 years.
Pradyumna Krishnakumar, Executive Director of Brigade Enterprises, emphasised the strategic significance of Chennai in their business focus, spanning residential, commercial, and hospitality sectors. He noted the city's promising growth in these sectors, especially in the past year, and highlighted Chennai's emergence as a hotspot for IT/ITES and healthcare industries, driving high demand for commercial spaces.
The signing of the MoU with ELCOT involved Pradyumna Krishnakumar and Dr S Aneesh Sekhar, IAS MD, ELCOT. Additionally, the agreement with CMDA was formalised between Hrishikesh Nair, Chief Operating Officer of Brigade Enterprises Ltd, and Anshul Mishra, IAS Member Secretary of Chennai Metropolitan Development Authority, Housing and Urban Development Department, Government of Tamil Nadu.
On January 8, Brigade Enterprises inked two Memoranda of Understanding (MoUs) with the Tamil Nadu government, committing to invest more than Rs 34 billion in the state over the next 3-4 years.
These agreements were formalised during the Tamil Nadu Global Investors Meet (GIM) 2024, with Chief Minister MK Stalin in attendance.
The first MoU, in collaboration with the Chennai Metropolitan Development Authority (CMDA), outlines Brigade Group's ambitious expansion plans in Chennai. It includes the construction of two high-rise residential buildings in the IT hub of Sholinganallur, with an investment exceeding Rs 20 billion.
The second MoU was established with the Electronics Corporation of Tamil Nadu (ELCOT), Information Technology and Digital Services Department, Government of Tamil Nadu. This agreement entails an investment of approximately Rs 14 billion for the development of high-rise commercial and residential projects in various micro-markets across Chennai, including Mount Road.
The slated completion for these projects is within the next 3-4 years.
Pradyumna Krishnakumar, Executive Director of Brigade Enterprises, emphasised the strategic significance of Chennai in their business focus, spanning residential, commercial, and hospitality sectors. He noted the city's promising growth in these sectors, especially in the past year, and highlighted Chennai's emergence as a hotspot for IT/ITES and healthcare industries, driving high demand for commercial spaces.
The signing of the MoU with ELCOT involved Pradyumna Krishnakumar and Dr S Aneesh Sekhar, IAS MD, ELCOT. Additionally, the agreement with CMDA was formalised between Hrishikesh Nair, Chief Operating Officer of Brigade Enterprises Ltd, and Anshul Mishra, IAS Member Secretary of Chennai Metropolitan Development Authority, Housing and Urban Development Department, Government of Tamil Nadu.
Next Story
3i Infotech Reports Rs 7.25 Bn Revenue for FY25
3i Infotech, a leading provider of digital transformation, technology services and technology solutions, announced its consolidated financial results for the fourth quarter and full year FY25, ended on March 31st, 2025. The company maintained its growth momentum, displaying consistent progress for the 3rd consecutive quarter.In Q4 FY25, 3i Infotech reported revenue of Rs 1.87 billion, reflecting steady performance compared to Rs 1.81 billion in Q3 FY25 and Rs 1.97 billion in Q4 FY24. The company delivered strong profitability improvements, with gross margin growing by 14.8 per cent Q-o-Q and 1..
Next Story
Emerald Finance Joins Baya PTE to Boost SME Bill Discounting
Emerald Finance is a dynamic company offering a spectrum of financial products and services including its flagship Earned Wage Access (EWA) in India, has entered into a strategic partnership with Singapore-based Baya PTE through its Indian subsidiary. This collaboration aims to strengthen bill discounting services for Small and Medium Enterprises (SMEs), enabling faster access to working capital and improved cash flow management.The initiative is designed to support SMEs that supply to large corporates such as JSW Steel, Delhivery, and PVR INOX, among others. By facilitating timely invoice dis..
Next Story
BLS E-Services Crosses Rs 5 Bn Revenue Mark in FY25
BLS E-Services, a technology-enabled digital service provider, announced its audited consolidated financial results for the quarter and full year period ended 31 March 2025.Speaking about the performance and recent updates, Shikhar Aggarwal, Chairman, BLS E- Services said, 鈥淲e are delighted to report a remarkable performance in FY25, as we achieved several milestones during the fiscal year. FY25 marked our highest-ever financial performance, as we surpassed Rs 5 billion milestone in Total Income during the year, which was reported at Rs 5.45 billion, a notable YoY growth of 76 per cent. The ..
