Overview

• The joint development agreement covers a residential project in Banashankari, 5th Stage in South Bengaluru.
• Regulatory filings peg the project’s gross development value or sales potential at about Rs 1,200 crore.
• Homes are planned on 7.5 acres under the JDA structure, limiting upfront land purchase outlay.
• Company messaging describes high-quality, premium apartments, with MD Pavitra Shankar citing the location’s heritage, connectivity, and supporting infrastructure.
• Brigade shares closed 1.32% lower at Rs 924.6 on the NSE; the stock is down 30.67% over 12 months and 25.62% year-to-date, with most analysts maintaining buy ratings and an average target implying about 40% upside.