Brigade Enterprises inks joint development agreement with Agni Estates worth ₹400 crore

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Brigade Enterprises Ltd inked a joint development agreement with Agni Estates & Foundations Pvt Ltd to develop Brigade Tech Boulevard, a Grade A office space in Chennai.

The company informed, with an investment of approximately ₹400 crore, the project will span across two towers and offer a leasable area of 8.36 lakh square feet. This is Brigade Group’s commercial venture following the completion of the ‘World Trade Center’ on OMR.

Nirupa Shankar, Joint Managing Director of Brigade Enterprises, said, “Chennai is a diverse office market with demand from not only IT and ITeS sector but also from several other industry verticals including engineering, automotive and banking, etc. Offices that conform to sustainability, with seamlessly integrated digital connectivity and A Grade office certification are in great demand. Brigade Tech Boulevard will be of world-class quality, with significant focus on sustainability, similar to all our commercial developments across cities. Given the pre-leasing commitments that Radial Road has had in the past, we are confident that the leasing momentum would increase further with this development.”

The shares were down by 1.15 per cent to ₹990.05 at 2:25 pm on the BSE.