While peers such as Prestige Estates and Puravankara are expanding across India, Bengaluru-based Brigade Enterprises is staying focused on its core markets in South India, including Bengaluru, Chennai, and others. In an interview, the company’s managing director, Pavitra Shankar, shares the company’s plans and market outlook with Raghavendra Kamath.
What does your launch pipeline look like for FY26? Which cities are you targeting for new launches? And what level of bookings growth are you projecting?
Our pipeline for FY26 remains strong, with nearly 15 million square feet of developments spanning residential and commercial segments. Bengaluru, Chennai, and Hyderabad will continue to be our key markets, reinforcing our strategic focus on sustained growth. The market remains resilient with sustained demand across both new launches and ongoing projects, particularly in the premium housing segments. Looking ahead, we are optimistic about maintaining this momentum in the upcoming quarters.
What is your outlook for sales in the coming quarters? Are you seeing any slackness in demand?
Due to administrative bottlenecks, the number of new launches in Q4 was lower, which in turn impacted sales volumes. However, on-ground demand from buyers remains strong despite price increases over the past two years, with a noticeable shift in preference toward mid-sized units. In Q4 FY25, we launched approximately 4 million sq ft of residential projects across both affordable and high-end segments, and we have a robust pipeline of upcoming developments. Our focus remains on deepening our presence in key markets, particularly Chennai and Hyderabad.
Do you plan to expand beyond South India into other regions? If not, what is the rationale behind continuing to focus solely on your home markets?
For now, our focus remains firmly on South India, where we have deep market understanding, established brand trust, and strong execution capabilities. Cities like Bengaluru, Chennai, and Hyderabad are some of the strongest economies in the country with high-quality demographics that can support the scale and depth of our operations across all business domains of residential, office, retail, and hospitality. In Chennai, we have scaled up our presence to be one of the largest players and are uniquely differentiated as a premium integrated township developer. We are working towards the same in Hyderabad
What are your plans for commercial real estate in FY26?
Our commercial real estate strategy is focused on expanding our footprint in key markets, with an emphasis on both traditional office spaces and flexible work environments. We are committed to delivering high-quality, sustainable developments that meet the evolving needs of businesses. We’ve launched landmark commercial projects in Bengaluru, Chennai, and Hyderabad, and have signed several strategic land agreements for future office developments. Our flexible workspace brand, BuzzWorks, is also scaling up, with strong demand for agile, plug-and-play office formats. Currently, we are developing 2 million sq ft of office and retail space, at various stages of construction, and plan to commence another 3 million sq ft in FY26. The year ahead will see us deepen our presence in established markets while selectively exploring new opportunities in commercial development.
You’ve made a couple of land acquisitions in the recent past. How have land prices been behaving lately?
We have indeed undertaken several land acquisitions recently, reflecting our confidence in the sustained growth of the real estate market, particularly in Bengaluru. Land prices have been on an upward trajectory, driven by robust demand, especially in key micro-markets. For instance, our recent acquisition of an 11-acre land parcel near ITPL in Whitefield is part of our commitment to expanding our commercial real estate footprint in Bengaluru’s tech corridor. These strategic acquisitions are in line with our focus on securing prime land in key markets to strengthen our land holdings.
What’s in highest demand right now? Are you planning to tweak unit sizes or pricing to match what buyers are looking for?
We’re seeing a clear trend of premiumisation in the residential real estate market. Properties priced between `2 crore and `5 crore have witnessed strong traction, with a 62% year-on-year growth. This trend is especially pronounced in Bengaluru, where prices have risen by 12% YoY, fueled by a growing demand for high-end developments. In response, we’ve strategically launched several premium projects, such as ‘Brigade Insignia’ in Yelahanka, offering 3, 4, and 5 BHK apartments for the upscale segment. At the same time, we’re closely tracking shifts in the mid-income segment.
Over the past two years, there’s been a clear move toward larger units with better amenities, as customers are increasingly willing to pay more for enhanced living experiences. This aligns with rising construction costs and heightened buyer expectations, and we’re calibrating our offerings accordingly.