Brigade Enterprises inks Mou with Technopark to develop world trade center in Thiruvananthapuram

Brigade Enterprises informed that it has entered into a memorandum of understanding (MOU) with Technopark to develop a world trade center (WTC) and supporting infrastructure, including a business hotel at Thiruvananthapuram, Kerala.

The said MoU aimed at developing around 1.5 million sq. ft. of infrastructure, spread across a cluster of towers. The WTC is poised to bring in IT MNCs and provide Grade A IT office space to the workforce in the park. The development is expected to generate employment opportunities, both direct and indirect, for over 10,000 people, it added.

The company has already signed and initiated the expansion of WTC in Kochi Infopark with its 3rd Tower, taking its IT infrastructure to over a million sq ft. Overall, Brigade plans to bring in approximately Rs 1,500 crore of investment to the state in the coming years.

M. R. Jaishankar, executive chairman, Brigade Enterprises, said, Encouraged by the success of WTC Kochi, we are happy bringing Keralas second WTC to Thiruvananthapuram. With the overall plan to develop about 1.5 million sq ft of premium office space, including a business-class hotel, this development is set to become an international landmark for the city of Thiruvananthapuram. At Brigade, we strive to bring world-class experiences to our clients, and WTC Thiruvananthapuram is yet another step in this direction.

Brigade Enterprises is one of Indias leading property developers. The company has developed properties in cities like Bengaluru, Mysuru, Hyderabad, Chennai, Kochi, and GIFT City with developments across residential, office, retail, hospitality, and education sectors.

The company's consolidated net profit declined 10.88% to Rs 118.98 crore on a 21.54% fall in revenue to Rs 1,072.16 crore in Q2 FY25 over Q2 FY24.

The scrip tumbled 5.37% to currently trade at Rs 1,087 on the BSE.

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