Brigade Enterprise announced that the Brigade Group will invest Rs 5 billion in Gujarat International Finance Tec-City (GIFT City), India's first globally benchmarked International Financial Services Centre (IFSC) over next few years. Allotment of 1.1 million sq. ft. of BUA has been made to Brigade Group for development of Commercial, Residential, Retail Mall and Hotel projects in SEZ & Non-SEZ Area in GIFT City.

The Group has also submitted their interest for taking additional 1.7 million sq. ft. of BUA to be developed at an estimated investment of Rs 6 billion, showing their intention to take a long position in development of India’s first Global Financial Hub at GIFT City.

Brigade Group has significant presence in southern India, including cities like Bangalore, Chennai, Hyderabad, Kochi etc. and is known for their high standards and quality of development across various facilities.

Saurabhbhai Patel, Minister (Finance & EPD), GoG during the road show of Vibrant Gujarat in Bangalore said, "We are happy that Brigade Enterprises., Bangalore for the first time participated in Gujarat, and has taken up large development in GIFT City, Gujarat to provide facilities like offices for Financial Services & IT, Residential, Retail Mall & Hotels with an estimated investment of around Rs 5 billion."

Shares of the company declined Rs 1.45, or 1.1%, to settle at Rs 130.05. The total volume of shares traded was 10,370 at the BSE (Friday).