Brigade Enterprises Limited (BEL) has announced the launch of its latest high-end residential project, Brigade Avalon, in the bustling Whitefield area of Bengaluru. The company expects this ambitious venture to generate revenue exceeding ₹1000 crore, marking a significant milestone in its strategic growth plan.

Project Details

Brigade Avalon, spread across 4.36 acres on Whitefield Main Road, boasts a development area of approximately 6.4 lakh square feet. The project comprises 206 thoughtfully crafted homes, designed to redefine upscale urban living in one of Bengaluru's most sought-after localities.

Luxury Living

The residential complex offers a mix of spacious 3 BHK homes with a study and powder room, as well as expansive 4 BHK residences. Key features of Brigade Avalon include:

• Bold architectural identity
• Expansive private decks
• Light-filled interiors
• Flexible home-office spaces catering to modern hybrid lifestyles
• A grand clubhouse with premium amenities for all age groups

Strategic Importance

Pavitra Shankar, Managing Director of Brigade Enterprises Limited, emphasized the strategic importance of this launch, stating, "The launch of Brigade Avalon marks a significant step in our strategic growth roadmap for Bengaluru and reinforces our commitment to be a key player that shapes the future of urban living across South India."

Location Advantages

Brigade Avalon's location in Whitefield offers residents seamless access to:

• Corporate hubs
• Shopping malls
• Schools
• Hospitals
• Vibrant retail zones

Company's Premium Strategy

This project aligns with Brigade Group's premiumisation strategy, focusing on:

• Thoughtful design
• Premium amenities
• Long-term value creation
• Sustainability
• Enhanced site experience

Financial Outlook

The launch of Brigade Avalon comes at a time when Brigade Enterprises is experiencing positive financial momentum. In a recent development, ICRA Limited has upgraded the company's long-term credit rating:

This credit rating upgrade reflects the company's strong financial position and positive outlook in the real estate sector.

With the launch of Brigade Avalon and the recent credit rating upgrade, Brigade Enterprises Limited continues to strengthen its position in the premium real estate market, setting new benchmarks for luxury living in Bengaluru.

Brigade Enterprises Limited , a prominent real estate developer, has received a significant boost to its credit profile as ICRA Limited upgraded its long-term credit rating. This upgrade marks a positive shift in the company's financial standing and creditworthiness in the real estate sector.

Credit Rating Upgrade

ICRA Limited has upgraded Brigade Enterprises' long-term credit rating from [ICRA]AA-(Stable) to [ICRA]AA(Stable) for its term loan and unallocated facilities totaling Rs. 2,750.00 crores. The short-term credit rating for cash credit/overdraft facilities worth Rs. 250.00 crores has been reaffirmed at [ICRA]A1+. The total rated amount across all instruments stands at Rs. 3,000.00 crores.

Breakdown of Rated Facilities

The upgraded rating applies to the following facilities:

Term Loan Distribution

Brigade Enterprises' term loans are spread across multiple banks, including:

• State Bank of India: Rs. 490.00 crores
• Indian Bank: Rs. 1,010.00 crores
• Federal Bank: Rs. 227.00 crores (across three facilities)
• Jammu & Kashmir Bank: Rs. 163.00 crores (across three facilities)
• HSBC: Rs. 250.00 crores
• RBL Bank: Rs. 5.00 crores
• Axis Bank: Rs. 260.00 crores

Implications of the Upgrade

The rating upgrade reflects an improvement in Brigade Enterprises' creditworthiness. This enhancement in credit rating can potentially lead to several benefits for the company:

1. Lower borrowing costs: A higher credit rating often translates to more favorable interest rates on loans and debt instruments.
2. Increased investor confidence: The upgrade may attract more investors, potentially improving the company's ability to raise capital.
3. Enhanced market reputation: A stronger credit rating reflects positively on the company's financial health and management capabilities.

Regulatory Compliance

In compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Brigade Enterprises has duly informed the National Stock Exchange of India Limited and BSE Limited about this credit rating upgrade.

The upgrade in Brigade Enterprises' credit rating signifies a positive outlook for the company's financial stability and growth prospects in the competitive real estate market. Investors and stakeholders may view this development as an encouraging sign of the company's improving financial position and operational performance.