- 20 Jun 2024
- ICICI Securities
BRIGADE GROUP HAVE ANNOUNCED THE DEVELOPMENT OF A THIRD TOWER OF THE WORLD TRADE CENTER
BRIGADE - 1049 Change: 14.95 (1.45 %)News: Brigade group have announced the development of a third tower of the World Trade Center (WTC) at Infopark Kochi. The projects cost is ₹150 crore and the tower will stand 16 storeys high with a car park of 6 decks. It will come up on the non SEZ plot and will have a built up space of 2.6 lakh square feet. The new tower is said to create around 2700 direct jobs and the project is expected to be complete in 3 years.
Views: The company expressed their commitment to increase their footprint in Kerala with the new tower and having already launched 2 WTC towers with a built up area of 7.7 lakh square feet. the company had earlier launched the brigade Icon Residences in Chennai with revenue potential of ₹1800 crore. The new launch at Kochi will further bolster the strong launch pipeline for FY25 and ensure robust sales volumes going forward. With lean balance sheet and healthy business development, Brigade is well placed for growth ahead.
Impact: Positive